Shopify (NASDAQ:SHOP) Upgraded at Sanford C. Bernstein

Shopify (NASDAQ:SHOP) (TSE:SHOP) was upgraded by research analysts at Sanford C. Bernstein to a “strong-buy” rating in a research note issued on Thursday, Zacks reports.

A number of other research firms also recently weighed in on SHOP. DA Davidson set a $200.00 target price on Shopify and gave the company a “buy” rating in a research report on Thursday, August 6th. BTIG Research assumed coverage on shares of Shopify in a research report on Friday, July 10th. They issued a “buy” rating on the stock. Stifel Nicolaus set a $150.00 price target on Shopify and gave the stock a “buy” rating in a report on Thursday, July 9th. Evercore reissued an “outperform” rating and issued a $175.00 price objective (up from $135.00) on shares of Shopify in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group raised their price target on shares of Shopify from $170.00 to $194.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $171.34.

Shopify Stock Performance

Shares of SHOP opened at $128.79 on Thursday. Shopify has a one year low of $94.00 and a one year high of $182.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.35 and a quick ratio of 5.35. The company has a market cap of $165.71 billion, a PE ratio of 87.02, a price-to-earnings-growth ratio of 2.58 and a beta of 2.61. The firm has a 50-day moving average of $135.65 and a 200-day moving average of $123.14.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $3.58 billion for the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. Shopify’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. As a group, equities analysts forecast that Shopify will post 1.45 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Van Hulzen Asset Management LLC raised its holdings in shares of Shopify by 42.0% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 4,190 shares of the software maker’s stock worth $478,000 after acquiring an additional 1,240 shares during the last quarter. IPG Investment Advisors LLC acquired a new position in Shopify during the 2nd quarter valued at about $534,000. MCF Advisors LLC increased its holdings in Shopify by 43.8% during the 2nd quarter. MCF Advisors LLC now owns 6,224 shares of the software maker’s stock worth $711,000 after purchasing an additional 1,895 shares in the last quarter. NorthRock Partners LLC increased its holdings in Shopify by 2.0% during the 2nd quarter. NorthRock Partners LLC now owns 5,673 shares of the software maker’s stock worth $648,000 after purchasing an additional 112 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its stake in shares of Shopify by 14.2% in the second quarter. Integrated Wealth Concepts LLC now owns 53,470 shares of the software maker’s stock worth $6,105,000 after purchasing an additional 6,635 shares during the last quarter. 69.27% of the stock is owned by institutional investors.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Bernstein starts coverage at Outperform: Bernstein initiated coverage with a $160 price target, implying more than 26% upside from Thursday’s close. The firm said Shopify is well positioned to lead innovation in commerce, supporting the stock’s premarket strength. Shopify Shares Rise 2.5% as Bernstein Starts Coverage at Outperform
• Positive Sentiment: Operating leverage and AI-commerce potential: StoneX highlighted that Shopify’s headcount has remained flat for more than eight quarters while revenue grew roughly 34%, suggesting improving efficiency. Analysts also view Shopify’s AI commerce initiatives as a potential growth driver rather than an immediate threat. StoneX Backs Shopify on Agent Commerce Data
• Positive Sentiment: Expansion of merchant services: Analysts remain constructive after Shopify’s reported 34% revenue growth, strong gross merchandise volume and $654 million in free cash flow. The planned expansion of Shop Pay Installments into Australia and the addition of Tailwind Labs’ team could strengthen Shopify’s merchant ecosystem and custom-storefront capabilities. Shopify: Buy The Affirm Australia Expansion, But Do Not Chase Blindly
• Neutral Sentiment: Recent selloff leaves technical and valuation questions: SHOP recently fell below a key technical level and remains below its 50-day moving average, although it is above its 200-day average. With a price-to-earnings ratio near 87, investors may be reluctant to chase the rebound despite the bullish $160 target. Turn Shopify Stock Sell-Off Into A Profit Opportunity With This Spread Strategy
• Negative Sentiment: AI-agent competition remains a concern: The launch of consumer AI agents from companies including Meta has weighed on confidence in Shopify, contributing to a sharp recent decline. The bullish view is that these agents may ultimately drive more commerce through Shopify’s infrastructure, but that thesis is not yet proven. Why Meta’s Consumer AI Agent Is Good News for Shopify Stock

About Shopify

Shopify Inc (NASDAQ:SHOP) is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow retail operations. Its platform enables merchants to create and manage online stores, sell through social media and other digital channels, and support in-person sales through Shopify’s point-of-sale solutions.

Shopify’s products and services include online storefront and website-building tools, payment processing through Shopify Payments, point-of-sale hardware and software, inventory and order management, shipping and fulfillment tools, marketing features, analytics, and financing services for eligible merchants.