Shopify SHOP Soars 4.38% on Goldman Buy Rating

On April 23, 2025, Shopify's stock price surged by 4.38% in pre-market trading, reflecting a strong start to the day's trading session.

Goldman Sachs recently maintained its buy rating for Shopify, setting a new target price of $130.00 per share. This positive outlook from a major financial institution is likely to have contributed to the stock's recent gains.

Shopify's latest annual report, released on February 11, 2025, showcased impressive financial performance. The company reported revenue of $88.80 billion for the year ending December 31, 2024, marking a 25.78% year-over-year increase. Net income for the period was $20.19 billion, with earnings per share (EPS) coming in at $1.57. These strong financial results underscore Shopify's robust growth and profitability, which are key drivers of investor confidence.

Shopify, founded in 2004, has established itself as a leading global commerce company, providing essential internet infrastructure for businesses. The company's platform and services enable entrepreneurs and enterprises of all sizes to start, grow, market, and manage their businesses effectively, while also enhancing the shopping experience for consumers worldwide.