Analyst Terry Tillman of Truist Financial maintained a Hold rating on Shopify (SHOP – Research Report), reducing the price target to $100.00.
Terry Tillman has given his Hold rating due to a combination of factors that reflect a cautious outlook on Shopify’s future performance. Ahead of Shopify’s upcoming quarterly results, Tillman has adjusted his growth assumptions for the company’s gross merchandise volume (GMV) and related revenues for the years 2025 and 2026. This adjustment is influenced by potential macroeconomic uncertainties and tariff impacts that could affect Shopify’s merchants and consumer spending.
Despite expecting some strength in the upcoming quarterly results, Tillman has lowered the price target for Shopify’s stock from $120 to $100. This decision is based on the revised, more conservative revenue estimates, which now fall slightly below consensus expectations. The adjustments in GMV and revenue growth estimates reflect a cautious stance, leading to the Hold rating as Tillman anticipates operational efficiency but remains wary of broader economic factors impacting Shopify’s financial performance.
In another report released yesterday, ATB Capital Markets also maintained a Hold rating on the stock with a C$155.00 price target.
Based on the recent corporate insider activity of 216 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHOP in relation to earlier this year.