Shopify (NASDAQ:SHOP) Price Target Lowered to $150.00 at Citizens Jmp

Key Points

• Citizens Jmp lowered its price target on Shopify from $160 to $150 while maintaining a "market outperform" rating, implying roughly a 41.5% upside from the stock's previous close.
• Shopify reported strong Q1 results — revenue rose about 34% to $3.17B, GMV topped $100B and AI-driven orders jumped ~13x — but management's cautious guidance and margin concerns sparked a sharp selloff.
• Analyst sentiment is mixed (consensus "Moderate Buy" with a $160 average target) while shares traded near $105.98 and the stock carries a high P/E (~114), underscoring continued valuation and sentiment volatility.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP had its target price lowered by equities researchers at Citizens Jmp from $160.00 to $150.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the software maker's stock. Citizens Jmp's target price points to a potential upside of 41.54% from the stock's previous close.

Several other equities analysts also recently weighed in on SHOP. Wedbush dropped their target price on shares of Shopify from $185.00 to $160.00 and set an "outperform" rating for the company in a report on Thursday, February 12th. Canaccord Genuity Group set a $165.00 price target on shares of Shopify and gave the stock a "buy" rating in a report on Thursday, February 12th. Piper Sandler reiterated an "overweight" rating and set a $150.00 price target on shares of Shopify in a report on Tuesday. Scotiabank upgraded shares of Shopify from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $165.00 to $200.00 in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Shopify in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.00.

Shopify Stock Performance

NASDAQ:SHOP traded down $1.65 during mid-day trading on Wednesday, hitting $105.98. 9,424,622 shares of the company's stock traded hands, compared to its average volume of 10,892,531. The firm's 50 day simple moving average is $122.10 and its 200 day simple moving average is $141.64. Shopify has a 1 year low of $88.14 and a 1 year high of $182.19. The company has a market cap of $138.21 billion, a PE ratio of 113.96, a price-to-earnings-growth ratio of 4.53 and a beta of 2.64.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last posted its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a net margin of 10.65% and a return on equity of 11.52%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. On average, research analysts expect that Shopify will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Hedge funds have recently modified their holdings of the stock. PeakShares LLC acquired a new position in shares of Shopify during the first quarter worth $119,000. Main Street Group LTD acquired a new stake in Shopify in the 1st quarter valued at about $101,000. Angeles Wealth Management LLC increased its holdings in shares of Shopify by 182.0% in the 1st quarter. Angeles Wealth Management LLC now owns 3,582 shares of the software maker's stock valued at $425,000 after purchasing an additional 2,312 shares during the period. Bessemer Group Inc. increased its holdings in shares of Shopify by 0.9% in the 1st quarter. Bessemer Group Inc. now owns 803,189 shares of the software maker's stock valued at $95,274,000 after purchasing an additional 7,108 shares during the period. Finally, Gerald Baker Financial Group LLC acquired a new position in shares of Shopify in the 1st quarter valued at about $391,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify News Roundup

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Q1 revenue and GMV strength — Shopify reported Q1 revenue up ~34% to $3.17B and merchants cleared >$100B in GMV, topping revenue estimates and showing healthy demand growth. Shopify Q1 revenue rises 34% as GMV tops $100bn
• Positive Sentiment: AI momentum — Shopify said AI drove a large increase in orders/traffic (orders up ~13x in Q1, AI traffic up ~8x), which supports longer‑term merchant monetization and product differentiation. AI Drove Orders on Shopify Up 13 Times in Q1
• Positive Sentiment: Top analyst reaffirmation — Needham reiterated a "buy" with a $180 target, signaling some bullish conviction about Shopify’s longer‑term growth despite recent volatility. Benzinga
• Neutral Sentiment: Q2 revenue guide roughly in line — Shopify issued Q2 revenue guidance in the ~$3.4B–$3.5B range, which largely tracked Street expectations (limits upside surprise potential). Shopify press release
• Negative Sentiment: Cautious outlook and profit miss reaction — Despite the beats, management’s forward commentary and operating profit/margin concerns prompted a sharp selloff as investors focused on slowing growth and near‑term cost pressure. Globe and Mail
• Negative Sentiment: Analyst price‑target cuts — Wells Fargo trimmed its target to $144 (still "overweight") and DA Davidson cut to $140 (still "buy"), reducing some street upside expectations and contributing to selling pressure. Benzinga The Fly
• Negative Sentiment: Market narrative and coverage — Multiple outlets and commentators highlighted the same story: strong Q1 numbers paired with a softer near‑term outlook (including coverage that the AI pitch didn't offset cautious guidance), amplifying downside moves. Yahoo Finance

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.

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