Shopify (SHOP) PT Raised to $156 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan raised the price target on Shopify (NASDAQ: SHOP) to $156.00 (from $91.00) while maintaining a Neutral rating.

The analyst commented, "SHOP reported monster 2Q results with GMV and GP beating street by MSD-% and accelerating sharply y/y. The company’s 3Q guide implies another strong quarter for GMV growth, but some incremental investments in marketing in 3Q capped the NT profit revisions. The anticipated impact of tariff-driven volatilities did not manifest in 2Q, and trends remain healthy through July. Clearly, SHOP’s GMV growth is not only showing resiliency to macro uncertainties but is also seeing nice benefits from product initiatives (Offline, Enterprise, B2B, etc.) and geo expansion (Europe). Given this dynamic, we expect growth to remain strong in 2H. We have revised our FY26E EBIT higher by 9% after a strong 2Q. Admittedly, after the rally earlier today, shares are now trading at 100x our FY26E GAAP EBIT, so we will wait on the sidelines."

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