Shopify (NASDAQ:SHOP) Rating Increased to Strong-Buy at Zacks Research

Shopify (NASDAQ:SHOP) (TSE:SHOP) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on SHOP. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Shopify in a report on Wednesday, May 6th. Jefferies Financial Group restated a “hold” rating and issued a $140.00 price target (down from $150.00) on shares of Shopify in a research report on Tuesday, May 5th. Wells Fargo & Company decreased their price objective on shares of Shopify from $166.00 to $144.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Shopify in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group reduced their price objective on Shopify from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.06.

Shopify Price Performance

SHOP opened at $119.22 on Tuesday. The firm’s fifty day moving average price is $111.07 and its two-hundred day moving average price is $125.59. The company has a market capitalization of $154.71 billion, a P/E ratio of 118.04, a P/E/G ratio of 2.53 and a beta of 2.58. Shopify has a fifty-two week low of $94.00 and a fifty-two week high of $182.19.

Institutional Trading of Shopify

A number of institutional investors have recently bought and sold shares of SHOP. Kingdom Financial Group LLC. bought a new position in shares of Shopify in the 4th quarter worth $26,000. Curio Wealth LLC acquired a new stake in shares of Shopify during the fourth quarter worth $27,000. Evolution Wealth Management Inc. increased its holdings in Shopify by 203.9% in the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after purchasing an additional 155 shares during the last quarter. Graney & King LLC bought a new stake in Shopify in the first quarter valued at about $27,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify News Roundup

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Bank of America reinstated coverage on Shopify with a Buy rating and a $150 price target, citing upside from AI-driven “agentic commerce,” international expansion, and stronger enterprise adoption. Shopify reinstated at Bank of America with ‘Buy’ rating on agentic commerce growth outlook
• Positive Sentiment: Shopify also announced it will report second-quarter 2026 results on August 5, which keeps attention on upcoming execution and could act as a near-term catalyst if results or guidance are strong. Shopify to Announce Second-Quarter 2026 Financial Results
• Neutral Sentiment: Shopify said it will ban vape sales on its platform, a policy move that may reduce regulatory and reputational risk, but is unlikely to be a major earnings driver by itself. Shopify to ban vape sales as experts warn illegal online market still puts youth at risk
• Neutral Sentiment: Analysts continue to view Shopify as a high-growth software name, with recent commentary highlighting its long-term appeal, but the stock still trades at a premium valuation, which can amplify volatility. Shopify (SHOP) Among the Best Software Stocks to Buy in 2026
• Negative Sentiment: The main drag appears to be a broader selloff in richly valued tech stocks, along with concern about governance changes and valuation ahead of earnings, which pressured Shopify shares intraday. HubSpot, Q2 Holdings, and Shopify Shares Plummet, What You Need To Know

About Shopify

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.