Zacks Research Upgrades Shopify (NASDAQ:SHOP) to “Strong-Buy”

Shopify (NASDAQ:SHOP) (TSE:SHOP) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research analysts also recently weighed in on SHOP. Canaccord Genuity Group cut their price target on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Bank of America began coverage on Shopify in a research note on Tuesday. They set a “buy” rating and a $150.00 price objective for the company. Jefferies Financial Group reissued a “hold” rating and issued a $140.00 target price (down from $150.00) on shares of Shopify in a research note on Tuesday, May 5th. BMO Capital Markets reduced their target price on Shopify from $160.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, May 6th. Finally, Weiss Ratings lowered Shopify from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, May 6th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.06.

Shopify Price Performance

Shares of NASDAQ SHOP opened at $119.22 on Tuesday. Shopify has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm has a market capitalization of $154.71 billion, a P/E ratio of 118.04, a P/E/G ratio of 2.53 and a beta of 2.58. The company’s 50 day simple moving average is $111.07 and its 200 day simple moving average is $125.59.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker’s stock valued at $2,252,000 after purchasing an additional 584 shares during the period. AQR Capital Management LLC boosted its position in shares of Shopify by 107.3% during the first quarter. AQR Capital Management LLC now owns 14,576 shares of the software maker’s stock worth $1,392,000 after buying an additional 7,544 shares during the period. Sivia Capital Partners LLC boosted its position in shares of Shopify by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 8,190 shares of the software maker’s stock worth $945,000 after buying an additional 506 shares during the period. Osterweis Capital Management Inc. bought a new position in shares of Shopify during the second quarter worth about $53,000. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Shopify by 15.3% during the second quarter. Main Street Financial Solutions LLC now owns 11,131 shares of the software maker’s stock worth $1,284,000 after buying an additional 1,479 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

Key Shopify News

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Bank of America reinstated coverage on Shopify with a Buy rating and a $150 price target, citing upside from AI-driven “agentic commerce,” international expansion, and stronger enterprise adoption. Shopify reinstated at Bank of America with ‘Buy’ rating on agentic commerce growth outlook
• Positive Sentiment: Shopify also announced it will report second-quarter 2026 results on August 5, which keeps attention on upcoming execution and could act as a near-term catalyst if results or guidance are strong. Shopify to Announce Second-Quarter 2026 Financial Results
• Neutral Sentiment: Shopify said it will ban vape sales on its platform, a policy move that may reduce regulatory and reputational risk, but is unlikely to be a major earnings driver by itself. Shopify to ban vape sales as experts warn illegal online market still puts youth at risk
• Neutral Sentiment: Analysts continue to view Shopify as a high-growth software name, with recent commentary highlighting its long-term appeal, but the stock still trades at a premium valuation, which can amplify volatility. Shopify (SHOP) Among the Best Software Stocks to Buy in 2026
• Negative Sentiment: The main drag appears to be a broader selloff in richly valued tech stocks, along with concern about governance changes and valuation ahead of earnings, which pressured Shopify shares intraday. HubSpot, Q2 Holdings, and Shopify Shares Plummet, What You Need To Know

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.