On September 22, Shopify rose 5.28% in regular trading, trading at $146.96/share, with turnover of $277 million. The stock had already gained over 3% in pre-market trading earlier in the session before extending its advance.
On the news front, Shopify CEO Tobias Lutke announced on social media platform X that the company is partnering deeply with Meta Platforms to integrate its Muse agentic AI into Shopify's checkout system. The collaboration will enable agentic checkout via Shop Pay — Shopify's one-tap checkout service — across all Shopify stores. The AI agent, Muse, is designed to scan product catalogs in real time and automate the end-to-end shopping and payment process, effectively upgrading the e-commerce platform into a comprehensive hub integrating search, transactions, payments, and financial services.
On the ratings front, Bernstein recently initiated coverage on Shopify with an Outperform rating, while Rosenblatt also initiated with a Buy rating and a $175 price target, noting that the company's B2B and international business potential remains undervalued. Notably, Shopify reported strong Q2 results in August, with revenue of $3.58 billion, up 33.7% year-over-year, and EPS of $1.16 significantly beating analyst estimates of $0.30.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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