Agentic commerce is a new AI-driven approach to shopping that could significantly change how people discover and buy products, and it may put e-commerce platform Shopify (SHOP) in a strong position to benefit, according to Scotiabank (BNS). The technology focuses on making shopping more personalized, faster, and easier by automating steps like product discovery and payments. As a result, Scotiabank believes that this shift could add about 300 basis points to Shopify’s gross merchandise value (GMV) growth.
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Because of this potential, analyst Kevin Krishnaratne upgraded Shopify from Hold to Buy and raised his price target by 21% to a street-high $200. He said that agentic commerce could reshape retail in a way similar to how e-commerce once disrupted traditional brick-and-mortar shopping. In his view, Shopify is well-positioned to capitalize on this change as AI becomes more deeply integrated into how consumers shop online.
Looking ahead, Krishnaratne expects 2026 to be the year when AI-powered shopping and GMV growth begin to accelerate more noticeably, following the adoption of consumer AI in 2025. He believes that agentic commerce saves consumers time by automating key parts of the shopping process. At the same time, it can help smaller businesses compete more effectively by reducing their reliance on large advertising budgets, which is an advantage that fits closely with Shopify’s core strengths and merchant base.
Is SHOP Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on SHOP stock based on 17 Buys, 14 Holds, and two Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average SHOP price target of $179.27 per share implies 8.1% upside potential.
