Shopify rises after Stifel upgrades stock to buy

SHOP•2026-07-10

Stifel turns bullish on Shopify

Stifel upgraded Shopify to "buy" from "hold" and raised its price target to $150 from $110. The new target implies about 21.8% upside from the stock's last close.

Brokerage sees stronger growth ahead

The brokerage said it sees a "realistic path to 30%-plus revenue growth" in 2026 and sustained mid-20% growth beyond that, citing continued market-share gains. Stifel added that Shopify's strong GMV growth is evidence of those gains and said they could accelerate as agentic commerce expands.

Shares edge higher after the upgrade

Shopify shares were up 1.3% at $124.80 in response to the note. Even after the move, the stock was still down 22.6% year to date based on the prior close.