Stifel raises Shopify stock price target on growth expectations

Shopify (NASDAQ:SHOP) raised prices for its Grow and Advanced plans by 13% and 20%, respectively. JPMorgan expects this to generate over $40M in incremental annual revenue, with minimal churn risk. The firm maintains an Overweight rating and $200 price target, citing Shopify's pricing power and AI-related growth. Q3 earnings are expected at 46 cents per share on $3.75B revenue. Shares fell 4.51% to $170.11 on Friday.

RBC Capital Markets increased its price target for Shopify to $200 from $180, citing strong growth momentum and potential for exceeding market expectations. The bank expects Shopify to sustain growth above 30%, supported by merchant sales, pricing increases, and AI-driven commerce opportunities. Shopify recently expanded access to its product catalogue for AI agents. The company is set to report Q3 results on November 3, with Q2 revenue growth at 34% and Q3 guidance in the low 30% range.

RBC Capital maintained an 'Outperform' rating on Shopify (SHOP) and raised its price target from $180 to $200. The company's stock is currently trading at $177.02, which GuruFocus estimates as 12.6% overvalued. Shopify has a GF Score of 84/100, indicating strong performance but with some valuation concerns.

RBC Capital kept an Outperform rating and $200 price target on Shopify, implying 12.3% upside from the Oct 15 close. The firm cited strong merchant growth, including a 15% YoY increase in total merchants and a 24% rise in Shopify Plus merchants, along with a positive financial outlook due to GMV growth and AI cost management.

Brazil's antitrust authority cleared a stablecoin venture involving Visa, Mastercard, Coinbase, Stripe, and Shopify without conditions. The decision, signed on October 14, was published on October 15. Open USD, the stablecoin, is already operational in over 100 countries. The ruling does not immediately impact Brazilian users or sales, as the coin is not yet offered in Brazil.

Shopify (SHOP) shares rose nearly 5% after Cantor Fitzgerald raised its price target to $158 from $145, citing expected Q3 revenue growth of around 30%. The firm maintained a neutral rating, noting concerns about AI costs and margin pressures from merchant solutions.