RBC Capital keeps an Outperform rating and $100 price target on Shopify, but notes that the company’s potential upside surprises to growth, profitability and new product innovations should allow the stock to sustain its premium valuation. Shopify’s embrace of AI will strengthen its value proposition to merchants, resulting in a resurgence of merchant growth and monetization of commerce, the analyst tells investors in a research note. Shopify’s AI pivot should also yield a deeper competitive moat and improved economics for the company, the firm added.
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