7/103 sources · 3 publishersUpdated Oct 8, 21:27 UTC
Piper Sandler Maintains Bullish Shopify View on AI Shopping Demand
Piper Sandler retained its Overweight rating and $180 price target for Shopify after discussions indicated that more merchants are moving to its platform as AI shopping agents gain traction. Analyst James Callahan said the company’s underlying operating momentum had improved, excluding added gross merchandise volume from agents. Piper forecasts 32% year-over-year revenue growth by 2027, compared with market consensus of 26%.
Why it matters
Piper Sandler says AI agents could help Shopify take market share as merchant migration demand increases. Its 32% revenue-growth forecast for 2027 is above the 26% market consensus.
Key facts
- 1Piper Sandler kept an Overweight rating and a $180 price target on Shopify. investing.com
- 2Piper Sandler said demand for migrations to Shopify has risen materially as AI shopping agents have become more popular. investing.com
- 3An expert consulted by Piper Sandler estimated that agents drive less than 2% of gross merchandise volume, while large language model traffic accounts for 3% to 5%. benzinga.com
- 4Piper Sandler projected 32% year-over-year revenue growth by 2027, versus market consensus of 26%. benzinga.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.