Benchmark Reiterates Buy Rating on Shopify (SHOP)

Benchmark analyst Mark Zgutowicz reiterated a Buy rating and $195.00 price target on Shopify (NASDAQ: SHOP).

The analyst commented, "Shopify delivered another boringly impressive print, accelerating GMV a second consecutive quarter to +32% y/y, up from ~31% in 2Q. We continue to point to SHOP’s still low relative ecommerce share in the U.S., Canada, and Europe as the driving factors behind its growth reacceleration, as it continued to lead online, offline, enterprise, and B2B commerce into its next agentic evolution. SHOP’s OpenAI partnership validates a rapidly evolving AI commerce/infrastructure thesis and industry standardization around Anthropic’s MCP server will establish SHOP as the standard for AI-commerce interactions, in our view. While details were light on the new partnership, incremental monetization should come from both net new purchases and higher purchase frequency, as well as revenue share from (our) anticipated promoted/sponsored ad listings on ChatGPT."

For an analyst ratings summary and ratings history on Shopify click here. For more ratings news on Shopify click here.

Shares of Shopify closed at $160.94 yesterday.

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