Shopify stock price target raised to $179 from $115 at JPMorgan

Investing.com - JPMorgan raised its price target on Shopify (NASDAQ:SHOP) to $179.00 from $115.00 on Thursday, while maintaining an Overweight rating on the e-commerce platform provider. The stock, currently trading at $152.14, appears overvalued according to InvestingPro Fair Value metrics.

The price target increase follows Shopify’s shares rallying approximately 22% on Wednesday, significantly outperforming the S&P 500’s gain of about 0.7% during the same period.

JPMorgan noted that Shopify’s Gross Merchandise Volume (GMV) and Gross Payment Volume (GPV) growth reached their highest levels since the pandemic, while notional volume growth hit a record high, driving strong performance across all major metrics.

The firm highlighted that tariffs have not negatively impacted consumer demand, though some Shopify merchants have increased pricing, which likely contributed to volume growth in the quarter.

Third-quarter revenue and gross profit growth guidance from Shopify exceeded prior Street estimates, suggesting another quarter with over 20% gross profit growth and free cash flow margin expansion, according to JPMorgan.

In other recent news, Shopify has reported strong second-quarter 2025 results, leading to multiple analyst firms raising their price targets for the company. BMO Capital highlighted Shopify’s impressive Gross Merchandise Volume (GMV) growth across North America, Europe, and Asia-Pacific, raising their price target to $180 while maintaining an Outperform rating. Mizuho (NYSE:MFG) also noted Shopify’s 31% year-over-year GMV increase, which exceeded expectations, and raised their price target to $150, although they maintained a Neutral rating. Loop Capital described Shopify’s revenue growth as "very impressive" and increased their price target to $155, maintaining a Hold rating. DA Davidson and BofA Securities both raised their price targets to $185, citing Shopify’s strong execution of its growth strategy and increased confidence in its market position, respectively. These developments reflect a positive outlook from analysts following Shopify’s latest financial performance.

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