On August 7, Shopify rose 3.11% in regular trading, trading at approximately $152.10 per share, with turnover of $4.15 billion. The stock continued its post-earnings momentum as multiple Wall Street institutions raised their price targets following the company's strong Q2 results.

On the news front, Shopify reported Q2 revenue of $3.58 billion, up 33.7% year-over-year, beating the consensus estimate of $3.45 billion. GMV reached $115.57 billion, up 32% YoY. Operating margin expanded to 13.6%, while adjusted EPS of $0.42 topped the $0.40 estimate. The company guided Q3 revenue growth at a low-thirties percentage rate, above the market expectation of 27%.

Following the earnings release, several firms raised price targets: Wedbush to $176 from $155 citing Shopify's growing role in global commerce and agentic AI strategy; RBC Capital Markets to $180 from $170 maintaining Outperform; Truist Securities to $180 from $150 with a Buy rating; and National Bank Financial to CA$180 from CA$155. The average analyst price target stands at $167.10 with an overweight consensus rating.

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