Shopify IncStifel upgraded Shopify to Buy with a $150 price target, citing growth outlook and agentic commerce opportunity.

Stifel upgraded Shopify to Buy from Hold, raising its price target to $150 from $110, implying about 22% upside from the last close of $123.17. The brokerage sees a realistic path to more than 30% revenue growth in 2026 and sustained mid-20% growth beyond, supported by expansion across enterprise, B2B, international markets, and payments. Shopify's gross merchandise value rose 35% year-on-year in the first quarter to $101 billion, outpacing broader U.S. e-commerce growth of 9.8%, indicating ongoing market share gains. The note also highlighted Shopify's early positioning in agentic commerce, noting AI-driven traffic to its stores grew eightfold year-on-year, while orders from AI-powered searches increased 13 times. Disciplined cost management, including lower headcount and reduced stock-based compensation, along with a $5 billion buyback authorization, was seen supporting operating leverage.
Shopify IncStifel upgraded Shopify to Buy with a $150 price target, citing growth outlook and agentic commerce opportunity.