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On Friday, Truist Securities recalibrated its outlook on Shopify stock (NASDAQ:SHOP), reducing the price target to $95 from the previous $100, while sustaining a Hold rating on the shares. The adjustment follows Shopify’s first-quarter performance, which surpassed Truist’s estimates for both revenue and earnings. According to InvestingPro data, analyst targets for Shopify currently range from $80 to $151, with the stock trading at $92.36.
Shopify’s first-quarter results demonstrated a robust execution, with Gross Merchandise Volume (GMV) expanding by 23% year-over-year. This marks the seventh successive quarter where the company has achieved over 20% growth. The company’s revenue grew 26.52% in the last twelve months, and InvestingPro analysis shows an impressive overall financial health score of "GREAT." The analysts at Truist noted that despite ongoing macroeconomic uncertainties and tariff concerns, Shopify’s business has not observed a significant impact, which they found somewhat surprising.
The research firm expressed a cautiously optimistic view on Shopify’s ability to withstand macroeconomic headwinds. However, they also indicated that it might be premature to fully understand the effects of global trade modifications and tariffs on Shopify, its merchants, and overall consumer spending patterns.
Despite the positive aspects of Shopify’s recent performance, Truist’s analysts decided to maintain their Hold rating. They acknowledged Shopify’s resilience in the face of uncertain economic conditions but also conveyed a sense of caution due to the potential for future impacts that are not yet fully measurable. The revised price target of $95 reflects this balanced stance, acknowledging Shopify’s strong quarter while considering the broader economic landscape.
In other recent news, Shopify is gearing up to release its first-quarter 2025 earnings, with several analysts adjusting their price targets ahead of the announcement. Benchmark analysts lowered their price target for Shopify to $125 from $150, maintaining a Buy rating, citing cautious optimism about Shopify’s market share growth despite challenges in new customer growth and retail media softness. Truist Securities also reduced its price target from $120 to $100, keeping a Hold rating, due to modest reductions in Gross Merchandise Volume and revenue growth assumptions for 2025 and 2026.
BMO Capital Markets initiated coverage on Shopify with an Outperform rating and a $120 price target, highlighting the company’s improved growth and operating leverage since divesting its logistics operations. KeyBanc Capital Markets adjusted its price target to $105 from $140, maintaining an Overweight rating, while expressing concerns about potential tariff headwinds affecting results starting in the second quarter of 2025. Additionally, Shopify announced details of its upcoming 2025 Annual General Meeting of Shareholders, scheduled to take place at its executive offices in Ottawa, Canada. These developments provide insights into the current landscape for Shopify as it navigates both opportunities and challenges in the e-commerce sector.
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