Movement Alert｜Shopify After-Hours Rise 3.01%, RBC Raises Target Price and Says Q3 Could Beat Expectations

Market Focus10-22 04:51

On October 22, Shopify rose 3.01% in After-Hours Trading, trading at $178.72/share, with turnover of $11.70 million.

The move followed a recent analyst catalyst: RBC raised its price target on Shopify to $200 from $180 and maintained an outperform rating, while saying the company is likely to deliver a third-quarter beat and stronger-than-expected fourth-quarter guidance.

RBC said channel checks pointed to sustained merchant growth and market share gains in the third quarter, with recent price increases implying roughly 110 basis points of incremental annualized growth. The report also highlighted higher gross merchandise value, improving adoption of Shopify's AI offerings, and potential margin expansion from lower hiring intensity and AI token cost controls. Shopify is scheduled to report third-quarter results on November 3.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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