Bernstein initiates coverage of Shopify with Outperform rating
Fintel reports that on September 11, 2026, Bernstein initiated coverage of Shopify (NASDAQGS:SHOP) with a Outperform recommendation.
Shopify Inc., based in Canada, operates globally as an e-commerce platform that enables businesses of all sizes to design, set up, and manage their stores across multiple sales channels. The company oversees a suite of services including payments, marketing, and customer engagement tools, underpinning its operations with cloud-based, multi-channel commerce technology. Key initiatives include the launch of Shopify Plus for high-volume merchants and the development of its own payment gateway, Shopify Payments.
Prior to Bernstein's coverage initiation, Shopify's stock closed at $126.60 on September 10, 2026. This latest close reflects a one-week price change of -13.22% from a baseline close of $145.88 on September 3, 2026, and a one-month price change of -18.42% from a baseline close of $155.18 on August 10, 2026. In its latest earnings report on August 5, 2026, Shopify reported an actual EPS of 0.42, exceeding the estimate of 0.4099 by a surprise of +2.46%. The company's actual revenue reached $3,583,000,000,000,000.00, compared to the estimated $3,514,127,041,000,000.00.
As of August 28, 2026, the current consensus target mean for Shopify was $174.57, with a median of $178.50, representing an implied change of +37.89%. This is an increase from the prior consensus target mean of $152.79 recorded on August 4, 2026, which represents a revision of +14.25%. In the recommendation period of September 1, 2026, the aggregate analyst sentiment showed 56 total recommendations, with 11 strong buy, 32 buy, 12 hold, 0 sell, and 1 strong sell ratings. This breakdown represents 76.8% positive, 21.4% hold, and 1.8% negative recommendations. In the prior period of August 1, 2026, there were 53 total recommendations, consisting of 11 strong buy, 31 buy, 10 hold, 0 sell, and 1 strong sell, representing 79.2% positive, 18.9% hold, and 1.9% negative ratings. Other recent analyst actions include Piper Sandler reiterating its Overweight rating on September 8, 2026, and Rosenblatt initiating coverage with a Buy rating on August 20, 2026.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| September 11, 2026 | Bernstein | Outperform | initiated coverage | |
| September 8, 2026 | Piper Sandler | Overweight | Overweight | reiterated |
| August 20, 2026 | Rosenblatt | Buy | initiated coverage |
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