Wolfe Research this week lowered its rating on Shopify to peer perform from outperform as part of an Internet stock analytical rebalancing. Analyst Rick Ducat noted that while Shopify’s shares outperformed broader e-commerce peers over the past 12 months—delivering total returns above 40%—the stock has repeatedly hit a descending resistance line since September. The downgrade reflects concerns about decelerating revenue growth, with net new merchant additions slipping to 140,000 in Q4 2025 versus 185,000 a year earlier, and an expectation that gross merchandise volume growth will moderate to mid-teens in 2026. Investors should watch Wolfe’s revised 12-month target for signs of renewed upside momentum or further technical pressure.

ReturnPro has introduced its Returns Portal App on the Shopify App Store, offering merchants a fully integrated returns management and reverse logistics solution. Key features include a centralized dashboard for returns across Shopify and other channels, a network of over 10,000 drop-off locations, and 12 processing facilities in the United States, Canada and Mexico. Returned items can be inspected, graded, cleaned and refurbished before being relisted through merchants’ own stores or via ReturnPro’s 20+ integrated resale marketplaces. There is no monthly subscription fee; merchants pay only when items are received. This launch could expand Shopify’s ecosystem revenue by capturing a growing share of returns-related service fees, estimated at $8 billion in North America last year, and strengthen merchant retention through enhanced post-purchase capabilities.