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Home/News Feed/Evercore ISI raises Shopify price target after strong Q2 and AI-driven growth

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Evercore ISI raises Shopify price target after strong Q2 and AI-driven growth

Analyst Insights

05 Aug 2026

Alex Lavoie

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Bullish

Evercore ISI increased its price target for Shopify to $175, reflecting an 18.51% potential upside following the company's strong Q2 results. Shopify reported a 34% revenue increase to $3.6 billion and an EPS of $0.42, beating estimates. Key growth drivers include a strategic shift away from logistics and heavy integration of artificial intelligence, which has tripled AI-driven traffic and orders. The company projects continued revenue growth in Q3, supported by its AI-focused strategy and improved operating income.

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