Shopify (SHOP) PT Raised to $91 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan raised the price target on Shopify (NASDAQ: SHOP) to $91.00 (from $80.00) while maintaining a Neutral rating.

The analyst commented, "SHOP reported 1Q results with GMV and GP relatively in-line with Street estimates (Visible Alpha). The company guided 2Q25E revenue to mid-20% y/y vs. the Street +22% y/y. On GMs, SHOP expects GP dollars to grow high-teens y/y in 2Q, implying ~3-pts margin compression driven largely by Payments mix-shift, PayPal (PYPL, NC) integration, and one-time partnership roll-off. On the call, SHOP noted that GMV showed continued strength in Apr/May. While some merchants seem to be adjusting pricing for tariffs, these actions are not broad-based and SHOP's end-consumer base skews more toward higher-income, which should minimize demand swings due to tariffs. Elsewhere, SHOP continues to see success on key product and strategic initiatives like payments, Shop App, international, and Enterprise. We reiterate our Neutral rating and our 12- month PT is now $91 (vs. $80 previously)."

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