BMO Sees 33.9% Upside with $150 Price Target on Shopify
BMO Capital Markets set a $150 price target on Shopify, implying 33.9% upside from current levels. The firm forecasts Q4 revenue of $3.58 billion (up 27.3% year-over-year) and EPS of $0.50 (up 13.6%).
1. Analyst Increases Price Target to $150
Thanos Moschopoulos at BMO Capital Markets raised Shopify’s price target to $150, reflecting confidence in the company’s long-term growth trajectory. This new target represents a 33.9% potential gain from recent trading levels.
2. Q4 Revenue and EPS Projections
BMO forecasts Q4 revenue of $3.58 billion, up 27.3% year-over-year, alongside earnings of $0.50 per share, a 13.6% increase. These estimates suggest continued merchant adoption and higher average order values during the holiday quarter.
3. Stability in Analyst Estimates
The revenue and EPS forecasts have not been revised over the past 30 days, indicating steady analyst conviction. Historical correlations between estimate revisions and share performance may boost investor confidence ahead of the release.
4. Current Valuation and Trading Metrics
Shopify shares recently traded around $112, within a $109.78–$115.04 intraday range. The stock’s market capitalization stands near $146 billion with average daily volume exceeding 14 million shares, underscoring high liquidity.