6. Shopify Inc (NASDAQ:SHOP)
Number of Hedge Fund Holders: 98
Stock’s Upside Potential: 26.72%
Shopify Inc (NASDAQ:SHOP) is among the best NFT stocks to invest in according to analysts. The company’s e-commerce platform allows creators to mint and sell NFTs like regular digital items. The company’s payment solutions allow NFT trades without the need for crypto wallets.
On March 12, Piper Sandler initiated coverage of Shopify Inc (NASDAQ:SHOP) with an Overweight rating and a price target of $165. The firm believes that Shopify is well-positioned to benefit from the continued growth of the global e-commerce market.
According to Piper, Shopify’s revenue growth could outpace expectations. While Wall Street is projecting Shopify revenue growth of 24% in 2027, Piper believes the growth could be stronger at 28%. The firm notes that the money that Shopify has been making from its new merchants in the first year has been increasing rapidly. As an example, it said Shopify’s revenue from first-year merchants soared from about $370 million in 2022 to $980 million in 2024.
Piper also highlighted Shopify’s large international growth opportunity, noting that some financial services have been rolled out in only a limited number of countries. Additionally, the firm sees more room for Shopify to grow its base of large merchants.
When Shopify reported its Q4 2025 results last month, the management highlighted a strong finish to 2025 and an even more promising 2026.
“2025 was Shopify at full throttle – driving compounding growth, while laying the rails for the new era of AI commerce…2026 will be the year of the builders, and we’ll be powering them – from first sale to full scale,” remarked Harley Finkelstein, Shopify’s president.
Shopify’s revenue rose 31% in Q4, and the company achieved a free cash flow margin of 19%. Shopify finished the year with $1.55 billion in cash and cash equivalents. The company’s board approved a $2 billion share repurchase program.
Canada-based Shopify Inc. (NASDAQ:SHOP) operates an e-commerce platform where merchants can set up and manage digital stores. On this platform, creators can mint NFTs and sell them like any other digital product. Shopify also offers payment solutions, which allows NFT trades on the platform without the need for a regular crypto wallet.
While we acknowledge the potential of SHOP to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SHOP and that has 100x upside potential, check out our report about the cheapest AI stock.
Click to continue reading and see the 5 Best NFT Stocks to Invest in According to Analysts.
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