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Investing.com - Stifel has raised its price target on Shopify (NASDAQ:SHOP) to $110.00 from $100.00 while maintaining a Hold rating on the e-commerce platform provider. The stock currently trades at $116.74, having delivered an impressive 81.81% return over the past year, according to InvestingPro data.
The research firm cited Shopify’s continued momentum across several key areas including Enterprise/Plus, Offline, B2B, and International markets, noting that SHOP shares have outperformed the IGV index by approximately 1 percentage point despite significant volatility year-to-date related to tariffs and macroeconomic concerns. This momentum is supported by robust revenue growth of 26.52% and an overall financial health score of "GREAT" from InvestingPro, which offers 15+ additional insights about Shopify’s performance.
Stifel’s analysis included conversations with four Shopify Plus merchants to gather insights on the platform’s competitive advantages, innovation capabilities, the impact of AI on e-commerce, and potential relationship expansion opportunities.
The firm expressed confidence that Shopify remains well-positioned for market share gains in the e-commerce ecosystem and highlighted the potential for an inflection in enterprise momentum in the midterm.
Despite the positive outlook, Stifel maintained its Hold rating, indicating it awaits a more favorable risk/reward scenario, with the current multiple sitting at 11.4x EV/Revenue based on Stifel’s 2026 estimates.
In other recent news, Shopify has announced a partnership with Coinbase (NASDAQ:COIN), allowing consumers to use the USDC stablecoin for payments on its platform. This integration is available to merchants in the United States and over 30 other countries, providing faster settlement times and lower fees. Cantor Fitzgerald has reiterated its Neutral rating on Shopify, maintaining a $91.00 price target, while acknowledging the potential impact of this cryptocurrency payment expansion. Meanwhile, Benchmark has reiterated its Buy rating and set a $125.00 price target, citing benefits from Shopify’s payment processing transitions, such as improved conversion visibility and increased monetization through Shop Pay.
DA Davidson has also raised its price target for Shopify to $125.00 from $115.00, maintaining a Buy rating. This decision follows Shopify’s better-than-expected first-quarter 2025 results, with DA Davidson highlighting the company’s resilience and growth potential. The firm also noted artificial intelligence as a potential driver for deepening customer relationships and accelerating merchant growth. These developments reflect Shopify’s ongoing efforts to expand its merchant services and platform capabilities amid growing competition in the e-commerce sector.
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