Truist upgraded Shopify (SHOP) to Buy from Hold with a price target of $150, up from $110. Shopify is one of the few software companies to show strong accelerating growth recently, says the analyst, who views the recent large drawdown in software valuations related to AI fears as having created an attractive buying opportunity for long-term investors in Shopify. Shopify can materially benefit from agentic commerce and continue to grow its share beyond the current 14%-plus of U.S. e-commerce going forward, the analyst contends.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SHOP:
- Shopify price target lowered to $125 from $160 at Jefferies
- Shopify Inc. Earnings Call Highlights AI, Payments Push
- Shopify, TSMC, Pinterest, NCLH, Zscaler Trending With Analysts
- Cathie Wood Goes Bargain Hunting on These Beaten-Down Tech Stocks
- Mixed options sentiment in Shopify with shares down 0.43%