On August 25, Shopify rose 3.05% in regular trading, trading at $154.215/share, with turnover of $152 million. The stock gained momentum following a fresh bullish initiation from a prominent Wall Street firm.

Rosenblatt recently initiated coverage on Shopify with a Buy rating and a $175 price target. The firm highlighted that Shopify's B2B business and international market expansion are the two most underestimated growth segments with significant upside potential. Rosenblatt noted that Shopify's free cash flow generation capability and pronounced operating leverage are highly attractive to bulls from a valuation perspective. The firm also emphasized that Shopify, as the core e-commerce ecosystem for long-tail merchants and major enterprise brands, is deeply integrating into agentic AI workflows.

This initiation follows a string of analyst upgrades after Shopify's strong Q2 results reported on August 5, which showed revenue of $3.58 billion (up 33.7% YoY), EPS of $1.16 versus the $0.30 consensus estimate, and GMV of $115.57 billion (up 32% YoY). Multiple firms including RBC, Truist Securities, and Wedbush raised their price targets to the $176-$180 range following the earnings beat.

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