Shopify’s reinstated Buy rating and $150 target reflect expectations of AI-driven commerce and international expansion driving long-term growth.
Bank of America reinstated coverage of Shopify Inc (TSX:SH., NYSE:SHOP) with a Buy rating and a $150 price target, citing the company’s potential to lead in AI-powered “agentic commerce.” The target is based on a 22x multiple of estimated 2027 enterprise value to gross profit.
The firm argued that Shopify’s payments and checkout infrastructure position it to benefit from AI-driven transactions, countering concerns about disruption. International gross merchandise volume grew 45% year over year in Q1, while enterprise adoption and global expansion remain key growth drivers.
Analysts expect agentic commerce to become a significant e-commerce segment, with value concentrating in transaction and infrastructure layers where Shopify operates.