• Jefferies has maintained a Buy rating on Shopify, with shares recently trading at $172.50.
  • The stock has experienced a sharp rise, closing at a new record of $179.22, reflecting an approximately 88% gain since mid-May.
  • Investor views on AI shopping agents are evolving, with Shopify integrating its Shop Pay service with Meta's Muse agent to facilitate purchases.

Shopify (NYSE: SHOP) is a commerce platform that helps businesses run online stores and process payments through services such as Shop Pay. Jefferies maintained its Buy rating on October 14, 2026, with shares trading at $172.50. A Buy rating means the firm expects the stock to perform well, though it does not guarantee a gain.

The rating follows a sharp rise in the shares. As highlighted by The Motley Fool, Shopify closed at $179.22 on Monday, above its previous record close of $179.01 on October 29, 2025. The stock had gained about 88% since a close near $95 in mid-May, including an approximately 18% climb over six trading days.

Investor views on AI shopping agents are changing. As highlighted by Zacks Investment Research, shares ended August down 8% for the year, while the S&P 500 was up nearly 12%, despite Shopify’s revenue growth above 30%. Investors had worried that agents could bypass merchant websites. In September, Shopify said Meta’s Muse agent could complete purchases through its merchant network using Shop Pay.

Shopify has not reported results since August 5, so the recent rise does not reflect a new earnings release. Its trailing-12-month free cash flow—cash left after operating and capital spending—is about 29% higher than at its previous record close. The next report is scheduled for November 3, when investors can assess whether growth supports the stock’s rise.

Other analysts remain more cautious. As highlighted by The Motley Fool, Cantor Fitzgerald raised its price target to $158 from $145 but kept a neutral rating, citing possible AI-related costs. It expects Shopify to beat forecasts for sales through its merchants and for revenue, with revenue growth in the low-30% range.