RBC raises Shopify price target to $200 and keeps Outperform rating
RBC Capital Markets lifted its price target for Shopify to $200 from $180 while maintaining an Outperform rating. The bank highlighted strong merchant growth, including a 15% year‑over‑year rise in total merchants and a 24% increase in Shopify Plus merchants, and expects revenue growth above 30% in the coming quarters. It also noted the company's Q2 revenue grew 34% and forecasts low‑30% revenue growth for Q3. The stock was trading around $177‑$178 at the time of the updates.
Why it matters
RBC says the higher target reflects confidence that Shopify can sustain >30% revenue growth, implying roughly a 12% upside from the current price (the bank’s target versus the $177‑$178 price). The rating and target raise may attract buying interest ahead of the Q3 earnings release on November 3.
Key facts
- 1RBC raised its price target for Shopify to $200 from $180. marketscreener.com
- 2RBC kept an Outperform rating on Shopify. marketscreener.com
- 3Total merchants grew 15% year‑over‑year and Shopify Plus merchants grew 24% year‑over‑year. tradingview.com
- 4Shopify's Q2 revenue grew 34%. investing.com
- 5RBC forecasts low‑30% revenue growth for Q3. investing.com
- 6Shopify was trading at $177.02. gurufocus.com
Open questions
- Current price is reported as $177.02, $178.14 and $178.28, creating a conflict on the exact trading level.
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.