10 Best Software Stocks to Buy in 2026

8. ​Shopify Inc. (NASDAQ:SHOP)

Number of Hedge Fund Holders: 88

Shopify Inc. (NASDAQ:SHOP) is one of the Best Software Stocks to Buy in 2026. The stock gained slightly, around 3% over the past month, after declining around 28% over the past 6 months.

​The recent gains are due to some stabilizing market sentiment, and analysts project this recovery trend to continue through the next quarter, driven by capital returns and AI product integration. Analysts’ 12-month average price target suggests more than 25.5% upside from the current level.

​Recently, on June 18, Citizens reiterated a Buy rating on Shopify Inc. (NASDAQ:SHOP) with a $150 price target. The firm noted that the rating is based on the company’s Spring 2026 Editions release, which included key updates such as upgrades to Catalog and the Universal Commerce Protocol, both aimed at building out agentic commerce infrastructure.

​Citizens noted that the company is executing on its shopping everywhere strategy, which lets merchants reach customers across any surface, with standardized data built for both human and AI-agent interactions. The firm noted commerce’s end state remains uncertain, but Shopify is positioning its roadmap to serve consumers however they choose to shop.

​The firm also sees Shopify as the de facto starting point for new merchants, with fresh tools helping retain and grow existing ones. It flagged rising software competition as coding assistants improved, but didn’t see that as a major threat.

Shopify Inc. (NASDAQ:SHOP) operates as a commerce technology company. The company offers tools to run, start, market, and scale businesses of different sizes globally. It is also involved in the sale of themes and apps, advertising on the Shopify App Store, point-of-sale hardware, shipping labels through Shopify Shipping, and Shop Campaigns for buyer acquisitions.