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Shopify Inc.

SHOP · NASDAQ

Market closed$123.56$-1.50 (-1.20%)After hours $123.60 · +0.03%

Key statistics

Previous close$125.06
Open$123.37
Day high$124.60
Day low$121.11
52-week high$182.19
52-week low$94.00
Market cap160.34B
Volume6.22M
Average volume10.14M
P/E ratio81.83
Forward P/E—
EPS1.51
Dividend yield0.00%

Market context

Why it moved

SHOP shares declined as a global tech sell-off, driven by a deepening chip stock rout and concerns over AI spending sustainability, weighed broadly on technology equities, while Netflix's weak guidance further dampened investor sentiment across the sector.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Shopify shares closed modestly lower, pressured by a broad software sector selloff stemming from IBM's shock earnings warning earlier in the week, which revealed corporate IT budgets shifting away from software toward AI hardware infrastructure. The headwinds were compounded by ongoing semiconductor weakness tied to the Moonshot AI Kimi K3 launch, which rattled AI-related technology stocks broadly. Despite the near-term turbulence, Jefferies recently upgraded Shopify to Buy with a $160 price target, citing agentic AI commerce potential, a coming partner program overhaul, and possible price increases — with Q2 earnings due August 5 as the next key catalyst.

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July 17, 2026Shopify edged higher, outperforming a broadly pressured tech sector weighed down by a sharp semiconductor selloff, as investors increasingly view the stock as a differentiated play on agentic commerce ahead of its July 20 earnings. The stock has received back-to-back analyst upgrades from Stifel and Jefferies — both raising targets to $150–$160 — citing Shopify's positioning as foundational infrastructure for AI-driven shopping, potential pricing increases, and partner program reforms, even as the broader software sector grapples with IBM's Q2 earnings warning and concerns over AI capex reprioritization away from software.

1.2222

July 16, 2026Shopify shares declined amid a broad software sector selloff triggered by IBM's historic earnings warning, which cited enterprise clients shifting capex away from software toward AI hardware and memory infrastructure. Despite the sector headwinds, Shopify enters next week's July 20 earnings report with fresh momentum from dual analyst upgrades — Jefferies (Buy, $160 PT) and Stifel (Buy, $150 PT) — both highlighting the company's positioning as a foundational platform for agentic commerce and expectations for 30%+ revenue growth in 2026.

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July 15, 2026Shopify closed modestly higher, edging up 0.75% despite a broad software sector selloff triggered by IBM's catastrophic earnings warning — its worst single-day drop since 1968. IBM's miss, driven by corporate clients redirecting capex toward AI hardware, sparked fears of a 'K-shaped divergence' in software spending, pulling down peers like Salesforce and Microsoft. Shopify's relative resilience came as Wall Street rallied behind the stock ahead of its July 20 earnings, with Jefferies upgrading to Buy ($160 target) citing agentic commerce potential and pricing power, while Citi named Shopify a top application software pick with a $156 target.

0.7536

July 14, 2026Shopify shares rose nearly 2%, buoyed by a wave of bullish analyst upgrades centered on the company's agentic commerce potential. Jefferies upgraded the stock to Buy with a Street-high $160 price target, calling Shopify the 'AI agent enablement toolkit for merchants,' while Stifel similarly upgraded to Buy with a $150 target, citing market share gains and 30%+ revenue growth expectations for 2026. Citi also highlighted Shopify as a top application software pick with a $156 target ahead of Q2 earnings on July 20, viewing it as a key beneficiary of AI-driven commerce trends alongside peers like Palantir and Figma.

1.7953

July 11, 2026Shopify closed modestly lower despite a wave of fresh analyst optimism, as Stifel upgraded the stock to Buy with a $150 price target and Bank of America reinstated coverage with a Buy rating and a $150 target — adding to a median analyst price target of ~$160. The positive analyst activity was offset by lingering valuation concerns, with two Seeking Alpha pieces published Thursday questioning whether Shopify's premium multiple is justified. With Q2 2026 earnings scheduled for August 5, investors are also weighing a recent board governance change — the audit committee chair resigned to join the U.S. Department of Commerce — alongside expectations for revenue growth to decelerate into the 'high-twenties' range from 30%+ in recent quarters.

-0.5115

July 10, 2026Shopify shares rallied after Bank of America reinstated coverage with a Buy rating and a $150 price target on July 7, providing a bullish catalyst that helped the stock recover from a 4.4% decline the prior session tied to a board governance change and pre-earnings caution. The rebound comes as software stocks broadly regained investor favor amid a sector rotation away from chip stocks, with Shopify's Q2 results scheduled for August 5 keeping near-term execution in focus despite the stock trading well below analyst median targets near $150.

3.3132

July 9, 2026Shopify shares fell over 2% Wednesday, underperforming against a backdrop of broad risk-off selling triggered by President Trump declaring the U.S.-Iran interim deal 'over,' sending oil prices surging 5%+ and rattling growth stocks. Company-specific headwinds compounded the macro pressure: a board governance change — audit committee chair Prashanth Mahendra-Rajah resigned after taking a U.S. Commerce Department role — raised investor concerns, while the announcement of Q2 results on August 5 sharpened focus on near-term execution. On the positive side, Bank of America reinstated coverage with a Buy rating and a $150 price target the prior day.

-2.1825

TipRanks · July 17, 2026Shopify Stock (SHOP) Gets a New ‘Buy’ Rating. Here’s WhySimply Wall Street · July 17, 2026DoorDash’s Shopify and Hungry Howie’s Integrations Might Change The Case For Investing In DoorDash (DASH)New York Post · July 16, 2026Ex-NFL players say they lost $1M in alleged fake Shopify store scheme: reportChain Store Age · July 14, 2026DoorDash integrates delivery services with ShopifyDoorDash · July 14, 2026DoorDash Integrates Directly with Shopify to Connect Brick-and-Mortar Retailers with On-Demand DeliveryTradingView · May 18, 2026Shopify Stock Slips 26% in a Month: Should You Buy, Sell or Hold?Investor's Business Daily · May 5, 2026Shopify Operating Profit Light As Revenue Edges By EstimatesStocktwits · February 11, 2026Shopify Stock Soars Ahead Of Q4 Earnings: Wall Street, Retail Traders Eye Signs Of AI Boost
Benzinga · July 15, 2026If You Invested $1000 In Shopify Stock 10 Years Ago, You Would Have This Much Today
Benzinga · July 13, 2026Jefferies Upgrades Shopify to Buy, Raises Price Target to $160
Mt Newswire · July 10, 2026Stifel Nicolaus Upgrades Shopify to Buy From Hold
Benzinga · July 10, 2026Stifel Upgrades Shopify to Buy, Raises Price Target to $150
Benzinga · July 7, 2026What Is Going on with Shopify Stock on Tuesday?
Benzinga · July 2, 2026$1000 Invested In Shopify 10 Years Ago Would Be Worth This Much Today
Mt Newswire · June 30, 2026Visa, Stripe, Mastercard Among 140+ Firms Launching Open USD Stablecoin
Mt Newswire · June 23, 2026Update: Shopify to Ban Vape Sales on Platform Amid US Regulatory Pressure

Peers

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