These Analysts Increase Their Forecasts On Shopify Following Q3 Results

Core Insights - Shopify Inc. reported a fiscal third-quarter revenue growth of 32% year-over-year, reaching $2.84 billion, surpassing analyst expectations of $2.76 billion [1] - The company announced an adjusted EPS of 34 cents, aligning with analyst consensus [1] Revenue Projections - For the fourth quarter, Shopify anticipates revenue growth in the mid-to-high twenties percentage range year-over-year, estimating between $3.51 billion and $3.59 billion, compared to the analyst consensus of $3.48 billion [2] - The company expects a free cash flow margin slightly above that of the third quarter of 2025 and gross profit dollars to grow in the low to mid-20s percentage year-over-year [2] Analyst Ratings and Price Targets - Following the earnings announcement, BMO Capital analyst Thanos Moschopoulos maintained an Outperform rating on Shopify and raised the price target from $180 to $190 [5] - Morgan Stanley analyst Keith Weiss also maintained an Overweight rating, increasing the price target from $165 to $192 [5]