New York, Feb 10, 2026, 12:57 ET — Session ongoing as scheduled.
- Shares of Shopify jumped roughly 8.5% in U.S. trading following an analyst upgrade
- A day ahead of Shopify’s earnings report, MoffettNathanson shifts to a bullish stance
- Investors grapple with mixed software outlook amid a packed U.S. data schedule
Shares of Shopify Inc (SHOP) climbed roughly 8.5% on Tuesday following an upgrade from research firm MoffettNathanson. By midday, the stock had jumped $10.06, reaching $128.46.
Shopify climbed roughly 6% in Toronto, pushing Canadian tech shares higher. Michael Dehal, senior portfolio manager at Dehal Investment Partners at Raymond James, noted, “Whether this rotation continues out of tech depends on this week’s macro data.” Reuters
The upgrade arrives amid ongoing jitters about how rapidly evolving AI might squeeze software margins and pricing power. JPMorgan strategists, led by Dubravko Lakos-Bujas, noted that “the market is pricing in worst-case AI disruption scenarios” which probably won’t materialize within the next three to six months. This follows a steep drop in the S&P 500 software and services index, followed by a modest recovery. Reuters
U.S. stocks showed a mixed picture by midday, with the Dow hitting a record high despite December retail sales holding steady. “The economy wasn’t as strong as people expected,” noted Charlie Ripley from Allianz Investment Management, as investors turn their attention to the data scheduled for later this week. Reuters
MoffettNathanson upgraded Shopify from neutral to buy, boosting its price target to $150 from $122. The firm described the recent selloff as an “unusually attractive entry point.” It highlighted Shopify’s edge with new chat-based shopping tools and noted that direct commerce is steadily grabbing market share from giants like Amazon. TipRanks
Shopify will release its fourth-quarter and full-year 2025 earnings before the market opens on Wednesday, followed by a conference call at 8:30 a.m. ET.
Based in Ottawa, the company offers software and services that enable merchants to create online stores, handle inventory, and process payments. Its revenue streams come from subscriptions and merchant services like payment processing and shipping solutions.
Investors will zero in on gross merchandise volume, or GMV — the total value of goods sold via Shopify’s platform — to gauge whether demand stayed strong during the holiday quarter. Operating income will also be under scrutiny, along with the company’s “take rate,” which roughly indicates how much revenue Shopify pockets per dollar of merchandise processed.
The danger is that Wednesday’s results won’t live up to the fresh optimism. Shopify is priced higher than many competitors, so even a slight warning on growth or margins could sting. That’s doubly true if bond yields rise sharply after hotter-than-expected inflation figures.
The next checkpoint is coming soon: Shopify’s earnings drop before the bell on Feb. 11, then management’s outlook and Q&A during the 8:30 a.m. ET call.
