Key Takeaways
- Shopify stock has gained 42% since mid-July to close at $177 on October 13, after a Q2 report with GMV up 32% YoY to $116B.
- Under a deal announced September 21, Shopify and Meta plan to let Meta’s Muse AI agent complete purchases across Shopify’s store network, and US-listed shares closed 7.3% higher that day.
- Analysts rate the stock with 31 Buys, 11 Outperforms, 11 Holds, and 1 Sell, and the $174 mean target sits ~1% below the price.
- Q3 results arrive before the market opens on November 3.
Shopify Stock Is Up 42% Since Mid-July After Q2 Results and a Meta Deal
Shopify (SHOP) stock has gained 42% since mid-July, closing at $177 on October 13. Shopify reported its second quarter on August 5. Gross merchandise volume (GMV, the total value of orders on its platform) rose 32% to $116 billion, and revenue rose 34% to $3.6 billion. Shopify stock went from near $117 before the report to the mid-$140s in the days after it.
On the Q2 earnings call, an analyst asked how Shopify makes money from AI-driven sales. President Harley Finkelstein answered: “the agentic transactions carry the exact economics as an online store transaction. There’s no new fees.” On the same call, Shopify guided for third-quarter revenue growth in the low 30s year-over-year.
The stock swung sharply both ways in September:
- On September 8, Shopify’s Toronto-listed shares fell 7.8% to their lowest close since July 29.
- Shopify and Meta Platforms said on September 21 that they plan to let Meta’s Muse AI agent complete purchases on behalf of users across Shopify’s store network. US-listed Shopify shares closed 7.3% higher that day.
- On September 23, a former Meta employee posted an image of a Muse checkout that listed Meta Pay alongside Link by Stripe and Shop Pay. The stock then fell 5.8% to $139 in morning trading. Rosenblatt said Meta Pay did not seem disruptive to Shopify Payments or Shop Pay in its current form.
- From $148 at the September 30 close, the stock climbed to $177 by October 13.
Over the full chart, the stock went from about $125 in mid-July to $177 on October 13. The Q2 report came in early August and the Meta deal in late September. Shopify reports its third quarter before the market opens on November 3.
Shopify and Meta plan to let the Muse AI agent complete purchases across Shopify stores. Compare Shopify’s quarterly GMV and revenue trends before Q3 results on November 3. Explore SHOP on TIKR for free →
Shopify Stock Now Trades Above Its $174 Mean Street Target
Shopify stock has 31 Buy, 11 Outperform, 11 Hold, and 1 Sell ratings, up from 28 Buys at the end of June. The mean price target rose from $148 on June 30 to $174, while the share price went from $114 to $177. That puts the mean 1% below the October 13 close. The highest of 48 price targets is $220, 25% above the price.
The Street’s $174 mean target sits 1% below Shopify’s $177 close, and the top target is $220. Build your own price target for SHOP on TIKR for free →
So what is Shopify stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any of the stocks mentioned. Thank you for reading, and happy investing!
