Shopify’s (SHOP) Outperform Rating Reiterated at Wedbush

Shopify (NASDAQ:SHOP) (TSE:SHOP)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a research report issued to clients and investors on Wednesday, September 23rd, Benzinga reports. They presently have a $176.00 price target on the software maker’s stock. Wedbush’s price objective indicates a potential upside of 17.66% from the company’s previous close.

Several other analysts also recently weighed in on SHOP. Truist Financial set a $180.00 price target on Shopify and gave the stock a “buy” rating in a research note on Wednesday, August 5th. DZ Bank cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. BTIG Research started coverage on shares of Shopify in a research report on Friday, July 10th. They set a “buy” rating on the stock. BMO Capital Markets set a $165.00 price target on shares of Shopify and gave the company an “outperform” rating in a research report on Thursday, August 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Shopify from $155.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-six have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.00.

Shopify Stock Up 0.9%

Shares of NASDAQ SHOP traded up $1.32 during mid-day trading on Wednesday, hitting $149.58. 2,477,010 shares of the stock traded hands, compared to its average volume of 10,461,883. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. Shopify has a 52 week low of $94.00 and a 52 week high of $182.19. The company has a market cap of $192.46 billion, a price-to-earnings ratio of 101.07, a PEG ratio of 2.92 and a beta of 2.61. The stock has a fifty day moving average price of $139.28 and a 200-day moving average price of $124.21.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The business had revenue of $3.58 billion during the quarter. Shopify had a return on equity of 12.58% and a net margin of 14.53%.Shopify’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. Research analysts anticipate that Shopify will post 1.46 EPS for the current year.

Hedge Funds Weigh In On Shopify

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norris Financial Group LLC purchased a new stake in Shopify in the 1st quarter worth about $1,586,000. Infusive Asset Management Inc. raised its holdings in shares of Shopify by 27.4% in the first quarter. Infusive Asset Management Inc. now owns 43,611 shares of the software maker’s stock worth $5,173,000 after buying an additional 9,374 shares during the period. OMERS ADMINISTRATION Corp lifted its stake in shares of Shopify by 18.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 58,044 shares of the software maker’s stock worth $6,876,000 after acquiring an additional 9,096 shares during the last quarter. Ninepoint Partners LP bought a new stake in shares of Shopify during the 2nd quarter worth approximately $29,027,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Shopify by 8.5% during the first quarter. The Manufacturers Life Insurance Company now owns 8,418,903 shares of the software maker’s stock worth $998,137,000 after purchasing an additional 660,198 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Merchant Solutions growth is accelerating: Revenue from payments and transaction-related services rose 37%, supported by higher gross merchandise volume, greater payments penetration and international expansion. This strengthens Shopify’s recurring transaction base and provides a key catalyst for future revenue growth. Shopify’s Merchant Solutions Growth Accelerates: More Upside Ahead?
• Positive Sentiment: AI commerce integration could expand Shopify’s reach: Shopify has opened its checkout system to browser-based AI agents, positioning the platform to process purchases initiated by automated assistants rather than limiting sales to traditional websites and apps. Shopify opens checkout to browser-based AI agents
• Positive Sentiment: Analyst sentiment remains favorable: Sell-side analysts have moved to a “Moderate Buy” consensus, while broader coverage includes substantially more buy and outperform ratings than sell ratings. A reported average price target of $173 suggests additional potential upside from recent levels. Shopify Inc. Stock Now Rated Moderate Buy
• Positive Sentiment: Subscription revenue and earnings momentum support the case: Subscription revenue increased 22% in the second quarter, helped by merchant additions, plan upgrades and AI tools. Recent earnings also exceeded expectations, reinforcing confidence in the company’s operating trajectory. Shopify’s Subscription Growth Accelerates
• Neutral Sentiment: New SHOP.COM domain ownership could improve Shopify’s branding and digital presence, although the immediate financial impact is unclear. Market America completes sale of SHOP.COM domain name
• Negative Sentiment: Meta remains a competitive risk: Reports of a Meta Pay wallet for Meta’s Muse AI assistant raised concerns that Meta could capture more of the payment relationship. Mizuho nevertheless maintained an Outperform rating and argued the pullback created a buying opportunity. Is Shopify’s AI Opportunity Bigger Than it Looks?

About Shopify

Shopify Inc is a commerce technology company that provides tools for businesses to start, operate and grow online and in physical retail environments. Its platform enables merchants to create and manage online stores, sell through multiple channels, process orders and payments, manage inventory and engage with customers.

Shopify’s products and services include its core commerce platform, Shopify Plus for larger businesses, Shopify Payments, Shop Pay, point-of-sale solutions and tools for marketing, shipping, analytics and customer management.