Stock Track | Shopify Soars 9.81% Intraday After Truist Upgrade on AI-Fear Buying Opportunity

Stock Track02-19

Shopify's stock surged 9.81% intraday on Wednesday, marking a significant upward movement for the e-commerce platform provider.

The rally followed an analyst upgrade from Truist, which shifted its rating on Shopify to buy from hold and raised its price target to $150 from $110. Analysts noted that recent AI-related jitters that sent software stocks lower have created an attractive buying opportunity for long-term investors in Shopify.

Truist highlighted the company's growth drivers, including international expansion, payments, enterprise solutions, B2B operations, and its move into agentic commerce and AI, as factors that can sustain one of the best profitable growth profiles at scale in the software sector.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment