Citigroup Issues Positive Forecast for Shopify (NASDAQ:SHOP) Stock Price

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price target hoisted by Citigroup from $150.00 to $196.00 in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a “buy” rating on the software maker’s stock. Citigroup’s price target indicates a potential upside of 33.51% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Susquehanna began coverage on Shopify in a report on Friday, July 10th. They set a “neutral” rating on the stock. Barclays set a $145.00 target price on Shopify and gave the company an “equal weight” rating in a research note on Thursday. Citizens Jmp increased their price target on shares of Shopify from $150.00 to $185.00 and gave the stock a “market outperform” rating in a research report on Thursday. Jefferies Financial Group reaffirmed a “buy” rating and set a $175.00 price objective on shares of Shopify in a research report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $150.00 target price (down from $165.00) on shares of Shopify in a research report on Tuesday, May 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.72.

Shopify Stock Up 1.8%

Shares of SHOP stock traded up $2.56 during trading hours on Thursday, reaching $146.80. 10,717,904 shares of the stock traded hands, compared to its average volume of 10,830,533. Shopify has a 1-year low of $94.00 and a 1-year high of $182.19. The business has a fifty day moving average price of $117.98 and a 200 day moving average price of $119.65. The firm has a market capitalization of $190.50 billion, a PE ratio of 145.35, a PEG ratio of 2.66 and a beta of 2.58.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. Shopify had a net margin of 10.77% and a return on equity of 12.07%. The firm had revenue of $3.58 billion during the quarter. During the same period in the prior year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 33.7% on a year-over-year basis. Research analysts expect that Shopify will post 1.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of large investors have recently bought and sold shares of the business. M&T Bank Corp grew its position in shares of Shopify by 37.1% in the 4th quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock valued at $13,051,000 after purchasing an additional 21,945 shares during the period. Triasima Portfolio Management inc. lifted its stake in Shopify by 11.0% in the fourth quarter. Triasima Portfolio Management inc. now owns 182,338 shares of the software maker’s stock valued at $29,398,000 after buying an additional 18,028 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Shopify by 6.7% in the fourth quarter. Assetmark Inc. now owns 213,583 shares of the software maker’s stock valued at $34,380,000 after buying an additional 13,415 shares during the period. Norris Financial Group LLC acquired a new stake in Shopify in the 1st quarter valued at approximately $1,586,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Shopify by 12.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 526,114 shares of the software maker’s stock valued at $84,689,000 after buying an additional 59,745 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported second-quarter revenue of $3.58 billion, up 33.7% year over year, while adjusted earnings of $0.42 per share exceeded the $0.40 consensus estimate. The company also delivered more than 30% growth in gross merchandise volume, gross profit, and free cash flow, with an 18% free-cash-flow margin. Shopify Delivers Big: 30%+ Growth Across GMV, Revenue, Gross Profit and Free Cash Flow
• Positive Sentiment: Third-quarter revenue is forecast at $3.7 billion to $3.8 billion, above the approximately $3.6 billion analyst consensus, implying low-30% growth and signaling continued momentum. Shopify Expects Q3 Revenue Growth in the Low 30s
• Positive Sentiment: AI-related traffic and orders to Shopify merchants tripled year over year, while the company is expanding “agentic commerce” tools and integrating AI across its platform. Investors viewed AI platforms such as ChatGPT and Gemini as potential partners that can send customers to Shopify stores rather than as direct threats. Shopify’s AI Traffic Triples
• Positive Sentiment: Analysts raised their targets following the report: Goldman Sachs to $194, Citizens JMP to $185, Wedbush to $176, and Benchmark to $170. Each maintained a bullish rating, reinforcing expectations for further upside. Shopify Analysts Increase Their Forecasts
• Neutral Sentiment: Cantor Fitzgerald raised its target to $145 but retained a neutral rating, indicating that some analysts remain cautious after the sharp move and Shopify’s premium valuation.

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.