Oppenheimer reiterated an Outperform rating and $149 price target on Shopify (SHOP), saying investor feedback on the partnership with ChatGPT centered largely on the uncertainty around the payment processor. The firm initially interpreted the partnership announcement as Shopify merchant transactions processed through Instant Checkout would most likely be facilitated by ChatGPT, potentially limiting direct monetization by Shopify. However, the firm has since clarified that ChatGPT provides the user interface, and thus views this arrangement as more favorable relative to the initial assumption.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHOP:
- Unusually active option classes on open September 30th
- OpenAI First-Half Revenue Jumps to $4.3 Billion, Targeting $13 Billion for 2025
- OpenAI Introduces Instant Checkout for Etsy and Shopify (SHOP) Through ChatGPT
- AI Daily: OpenAI announces Instant Checkout in ChatGPT
- OpenAI announces Instant Checkout in ChatGPT with Etsy and Shopify