Shopify Stock Moves Lower as Tariffs Dent Forecast

Core Insights - Shopify Inc (NASDAQ:SHOP) has experienced a 3.5% decline, trading at $91.20, following disappointing guidance attributed to tariff uncertainty [1] - The company reported first-quarter profits of 25 cents per share, which met estimates, alongside a revenue beat [1] Analyst Sentiment - Analysts remain predominantly bullish, with 28 out of 45 covering analysts rating Shopify stock as a "buy" or better [2] - The 12-month consensus target price for Shopify is $117.87, indicating a 28.5% discount to current trading levels, suggesting potential for downward adjustments [2] Technical Analysis - Shopify is currently testing support at $90, a level it previously conquered in late March [3] - The stock has seen a 15% decline year-to-date in 2025, but maintains a 44.1% year-over-year gain [3] - The most active options are the weekly 5/23 92-strike calls, with significant new positions being opened [3] Options Market Activity - The equity's 50-day put/call volume ratio is higher than 89% of readings from the past year, indicating bearish sentiment among long-term options traders [4]