Analysts’ Weekly Ratings Changes for Shopify (SHOP)

A number of firms have modified their ratings and price targets on shares of Shopify (NASDAQ: SHOP) recently:

• 2/10/2026 – Shopify was upgraded by analysts at ATB Capital from a “sector perform” rating to an “outperform” rating.
• 2/10/2026 – Shopify had its price target lowered by analysts at Benchmark Co. from $195.00 to $145.00. They now have a “buy” rating on the stock.
• 2/9/2026 – Shopify was upgraded by analysts at Moffett Nathanson from a “neutral” rating to a “buy” rating. They now have a $150.00 price target on the stock.
• 2/9/2026 – Shopify was given a new $150.00 price target on by analysts at Moffett Nathanson. They now have a “buy” rating on the stock.
• 2/9/2026 – Shopify had its price target lowered by analysts at BMO Capital Markets from $190.00 to $150.00. They now have an “outperform” rating on the stock.
• 2/3/2026 – Shopify had its “hold” rating reaffirmed by analysts at Jefferies Financial Group Inc..
• 2/2/2026 – Shopify was given a new $175.00 price target on by analysts at Arete Research.
• 2/2/2026 – Shopify was upgraded by analysts at Arete Research from a “neutral” rating to a “buy” rating.
• 1/26/2026 – Shopify was given a new $200.00 price target on by analysts at Royal Bank Of Canada. They now have an “outperform” rating on the stock.
• 1/8/2026 – Shopify was upgraded by analysts at Scotiabank from a “sector perform” rating to an “outperform” rating. They now have a $200.00 price target on the stock, up previously from $165.00.
• 1/7/2026 – Shopify had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $200.00 price target on the stock.
• 1/6/2026 – Shopify was upgraded by analysts at Wolfe Research from a “hold” rating to an “outperform” rating.
• 1/5/2026 – Shopify was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating. They now have a $185.00 price target on the stock.
• 12/29/2025 – Shopify had its “hold (c)” rating reaffirmed by analysts at Weiss Ratings.
• 12/22/2025 – Shopify had its “hold (c)” rating reaffirmed by analysts at Weiss Ratings.
• 12/17/2025 – Shopify had its “overweight” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $198.00 price target on the stock, up previously from $125.00.
• 12/17/2025 – Shopify had its price target raised by analysts at Bank of America Corporation from $185.00 to $190.00. They now have a “buy” rating on the stock.
• 12/15/2025 – Shopify had its “hold (c)” rating reaffirmed by analysts at Weiss Ratings.

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.