Investment Analysts’ Recent Ratings Changes for Shopify (SHOP)

A number of research firms have changed their ratings and price targets for Shopify (NASDAQ: SHOP):

• 7/29/2026 – Shopify had its “buy” rating reaffirmed by Benchmark Co..
• 7/24/2026 – Shopify had its price target lowered by Citigroup Inc. from $156.00 to $150.00. They now have a “buy” rating on the stock.
• 7/21/2026 – Shopify was given a new $130.00 price target by Rothschild & Co Redburn. They now have a “neutral” rating on the stock.
• 7/21/2026 – Shopify was downgraded by Rothschild & Co Redburn from “buy” to “hold”. They now have a $130.00 price target on the stock.
• 7/20/2026 – Shopify had its “outperform” rating reaffirmed by Royal Bank Of Canada.
• 7/20/2026 – Shopify was given a new $155.00 price target by National Bank Financial. They now have an “outperform” rating on the stock.
• 7/13/2026 – Shopify was downgraded by Morgan Stanley from “overweight” to “buy”.
• 7/12/2026 – Shopify was upgraded by Jefferies Financial Group Inc. from “hold” to “buy”. They now have a $160.00 price target on the stock, up from $140.00.
• 7/10/2026 – Shopify is now covered by BTIG Research. They set a “buy” rating on the stock.
• 7/10/2026 – Shopify is now covered by Susquehanna. They set a “neutral” rating on the stock.
• 7/10/2026 – Shopify is now covered by BMO Capital Markets. They set a “market perform” rating on the stock.
• 7/10/2026 – Shopify was downgraded by Citigroup Inc. from “market outperform” to “neutral”.
• 7/9/2026 – Shopify was given a new $150.00 price target by Stifel Nicolaus. They now have a “buy” rating on the stock.
• 7/7/2026 – Shopify was upgraded by Zacks Research from “hold” to “strong-buy”.
• 7/7/2026 – Shopify is now covered by Bank of America Corporation. They set a “buy” rating and a $150.00 price target on the stock.
• 6/18/2026 – Shopify had its “market outperform” rating reaffirmed by Citigroup Inc..

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.