---
title: "Analyst Reiterates Buy on Shopify, Citing Agentic AI Initiatives and Enterprise/B2B Momentum as Key Upside Drivers"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284335021.md"
description: "TD Cowen analyst John Shao reiterated a Buy rating on Shopify with a price target of $159, citing Agentic AI initiatives and enterprise/B2B momentum as key growth drivers. He expects first-quarter results to meet expectations despite seasonal softness and believes clearer guidance on cash flow margins could enhance valuation. Shao views Shopify's Agentic plan as a strategic move to increase GMV and sees potential in the Sidekick tool for boosting recurring revenue. RBC Capital also maintains a Buy rating with a $170 target. Shopify's stock has dropped 30.87% over the past six months."
datetime: "2026-04-28T07:35:28.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284335021.md)
  - [en](https://longbridge.com/en/news/284335021.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284335021.md)
---

# Analyst Reiterates Buy on Shopify, Citing Agentic AI Initiatives and Enterprise/B2B Momentum as Key Upside Drivers

TD Cowen analyst John Shao maintained a Buy rating on Shopify yesterday and set a price target of $159.00.

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John Shao has given his Buy rating due to a combination of factors tied to Shopify’s execution and emerging growth drivers. He anticipates first-quarter results to align with expectations despite seasonal softness, while emphasizing that clearer guidance on free cash flow margins and progress in enterprise and B2B segments could support a recovery in the valuation multiple.

Shao also highlights Shopify’s Agentic initiatives and AI tools as important, early-stage catalysts. He views the Agentic plan as a strategic way to capture additional GMV by acting as a neutral commerce channel, and sees Sidekick as a tool that can push merchants toward higher-tier subscriptions, lifting recurring revenue. Although monetization of Agentic commerce is still nascent, he expects more disclosure and momentum, which underpins his constructive stance on the shares.

In another report released on April 22, RBC Capital also maintained a Buy rating on the stock with a $170.00 price target.

SHOP’s price has also changed moderately for the past six months – from C$245.170 to C$169.490, which is a -30.87% drop .

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