Bank of America Securities Raised the Firm’s PT on Shopify Inc (SHOP), Kept a Buy Rating

Shopify Inc. (NASDAQ:SHOP) is one of the Best Performing Canadian Stocks So Far in 2025. On August 8, Bradley Sills from Bank of America Securities raised the firm’s price target on Shopify Inc. (NASDAQ:SHOP) from $110 to $185, while maintaining a Buy rating on the stock.

The analyst noted that the company’s key growth initiatives are showing significant results. The company, in its latest fiscal second quarter 2025 earnings release, exceeded revenue and EPS estimates. The company posted $2.68 billion in revenue, up 31% year-over-year and ahead of expectations by $132.64 million. The EPS of $0.35 also surpassed estimates by $0.06.

Bank of America Securities Raised the Firm’s PT on Shopify Inc (SHOP), Kept a Buy Rating

An enthusiastic customer completing a purchase and receiving an order confirmation via one of the companies online sales channels.

The analyst noted that the company’s merchant solutions contributed significantly to revenue growth, and the company is also winning new enterprise clients, which is good for its long-term growth.

Shopify Inc. (NASDAQ:SHOP) is a global commerce company that provides tools and software for businesses to sell products online, in stores, and through social media or marketplaces.

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 this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.