Why Shopify Was Climbing Today

Group 1 - Shopify received a buy rating from Needham with a price target of $135, indicating positive sentiment from Wall Street [3] - Baird raised its price target from $110 to $120 while maintaining an outperform rating, highlighting the health of Shopify's merchant business despite challenges [4] - The company is in a durable growth cycle, benefiting from ongoing consumer spending growth and the recent U.S. tax bill [3] Group 2 - Shopify's exposure to the business cycle and consumer demand remains significant, with continued growth despite trade war concerns [5] - The company is innovating and investing in AI, which presents substantial opportunities for attracting new merchants [5] - Analysts expect Shopify's revenue to increase by 24.5% to $2.55 billion in the upcoming second-quarter earnings report, with adjusted earnings per share projected to rise from $0.26 to $0.29 [6]