Truist Securities Raises PT on Shopify Inc. (SHOP) to $150 Following Strong Q2 Results

With strong year-to-date gains and significant hedge fund interest, Shopify Inc. (NASDAQ:SHOP) secures a spot on our list of the 10 Unstoppable Canadian Stocks to Buy Now.

On August 7, 2025, Truist Securities increased its price target on Shopify Inc. (NASDAQ:SHOP) from $95 to $150, keeping a ‘Hold’ rating. This price revision follows the company’s strong Q2 results.

In the second quarter, Shopify Inc. (NASDAQ:SHOP) reported 31% growth year-over-year in both GMV and revenue, driven by strong international momentum, particularly in European GMV, which grew 49%. The investment firm also highlighted the company’s AI-driven product innovation, including Universal Cart and Checkout Kit. This innovation enhanced merchant adoption and performance.

Thanks to Shopify Inc. (NASDAQ:SHOP)’s solid financial health and higher discounted cash flow assumptions, Truist expressed its growing confidence in the company’s long-term resilience and growth in a challenging macro environment.

Shopify Inc. (NASDAQ:SHOP) helps merchants manage sales, payments, fulfillment, analytics, and financing with its commerce technology. It is one of the unstoppable stocks.

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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