Shopify Surges on Q2 Earnings, Barclays and 24/7 Wall St. Set $145–$146 Price Targets

Earnings

โดย 24/7 Wall St.·

Summary · why it matters

Shopify shares jumped nearly 17% after reporting second-quarter results that beat expectations, prompting Barclays to raise its price target to $145 from $126. 24/7 Wall St. issued a $145.91 target, implying roughly 1% upside from the current $144.24, and rates the stock a hold with 90% confidence. Revenue rose 33.7% year-over-year to $3.58 billion, gross merchandise volume climbed 32% to $115.57 billion, and operating income surged 67.7% to $488 million. The company also repurchased $1.42 billion of stock during the quarter. Despite the strong quarter, the forward price-to-earnings ratio of 62 times remains well above Amazon's 32 times and Etsy's 15 times, which underpins the hold rating.