Canadian e-commerce giant Shopify (TSE:SHOP) might be one of a few bright spots in the Canadian technology sector. That sector has been suffering in the doldrums for the last several months, but Shopify may help turn it around, at least somewhat. Though a new push into artificial intelligence (AI) is helping, investors are still very skeptical. Shares of Shopify were down nearly 3.5% in Tuesday morning’s trading.
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National Bank analyst Richard Tse, who has a five-star rating on TipRanks, spelled it out: “So far, 2025 has not been a banner year for Canadian technology.” This is, sadly, true; tech stocks dominate the headlines these days, but Shopify is little more than an afterthought. That may change, though, as Tse points out that Shopify’s growth in AI is giving it some real help.
Tse noted, “The most notable broad driver of growth and innovation for Shopify is from AI – its application both internally and for its merchants. In our view, this is by far the biggest potential driver of profitability for Shopify care of operating leverage.” Given that Shopify has been pushing aggressively into AI for months—the company will not hire new people without first asking if the job for which they are intended can be done by AI instead—it is clear that Shopify is going all in therein.
Rattling the Conference Cage
Business conferences are a fairly familiar part of life for many business figures, but Shopify—in a fashion ultimately true to its brand ethos—is shaking up the conference scene, using some unconventional tools to make its conferences more effective.
Shopify took its Shopify Summit 2025 event to the Enercare Center in Toronto, and delivered a conference that had a lot more of a vacation to it than an actual conference. For instance, Shopify set up a “vinyl-listening lounge,” as well as a “hidden speakeasy.” With spaces set up like garages and shipping materials, Shopify strove to exemplify the “builder-first culture” while also providing space for connection and collaboration throughout its global employee base.
Is Shopify Stock a Buy or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSE:SHOP stock based on 21 Buys and 10 Holds assigned in the past three months, as indicated by the graphic below. After a 103.53% rally in its share price over the past year, the average SHOP price target of C$160.81 per share implies 5.21% downside risk.
