Shopify Maintains Hold Rating from Scotiabank, Analyst Sees $150 Price Target

Scotiabank maintains a Hold rating for Shopify with a price target of $150. Kevin Krishnaratne, a Scotiabank analyst, covers the Technology sector and has a 46.67% success rate on recommended stocks. Shopify has a one-year high of $156.85 and a one-year low of $65.86, with an average volume of 10.63M. Corporate insider sentiment is negative, with an increase in insiders selling their shares over the past quarter.

Shopify, Inc. (NYSE: SHOP), a leading cloud-based commerce platform, has seen significant interest from analysts following its strong second-quarter 2025 results. The company's stock has experienced a notable rise, with analysts setting new price targets and institutional investors adjusting their positions.

Analyst Ratings and Price Targets

Scotia Capital Inc. recently reduced its stake in Shopify by 3.0%, now holding 1,084,224 shares valued at approximately $102.95 million [3]. Despite this reduction, Scotia Capital maintains a Hold rating for Shopify with a price target of $150. Kevin Krishnaratne, a Scotiabank analyst covering the Technology sector, has a 46.67% success rate on recommended stocks [3]. Other analysts have also raised their price targets, reflecting a positive outlook on the company's future prospects.

Truist Securities raised its price target on Shopify to $150.00 from $95.00, maintaining a Hold rating [2]. The stock has delivered an impressive 142.45% return over the past year, with gross merchandise volume (GMV) increasing by 31% year-over-year and revenue growing by 31% compared to the same period last year [2]. Shopify's strong international performance, particularly in Europe, has been a key driver of this growth.

BMO Capital has raised its price target on Shopify to $180, maintaining an Outperform rating, citing accelerated GMV growth across North America, Europe, and Asia-Pacific [2]. Mizuho also raised its price target to $150, noting a 31% year-over-year increase in GMV and revenue, both surpassing consensus expectations [2]. Loop Capital increased its price target to $155, acknowledging impressive sequential revenue growth and healthy expansion in operating and free cash flow margins [2]. DA Davidson set a new price target of $185, attributing the increase to Shopify’s strong execution of its long-term growth strategy [2]. JPMorgan raised its price target to $179, maintaining an Overweight rating [2].

Corporate Insider Sentiment and Stock Performance

Corporate insider sentiment for Shopify is negative, with an increase in insiders selling their shares over the past quarter [3]. Despite this, the stock has reached its one-year high of $156.85, suggesting that market sentiment remains bullish. The stock has a one-year low of $65.86 and an average volume of 10.63M shares traded per day [3].

Conclusion

Shopify's strong second-quarter results and subsequent analyst upgrades have driven a positive sentiment around the stock. While insider selling has been a concern, the stock's performance and analyst ratings suggest that investors remain optimistic about Shopify's future prospects. As the company continues to innovate and expand its global presence, it will be essential to monitor its progress and the evolving analyst consensus.

References

[1] https://www.cnn.com/markets/stocks/SHOP
[2] https://au.investing.com/news/analyst-ratings/truist-securities-raises-shopify-stock-price-target-to-150-on-strong-q2-results-93CH-3965955
[3] https://www.marketbeat.com/instant-alerts/filing-scotia-capital-inc-lowers-stock-holdings-in-shopify-inc-nyseshop-2025-08-03/