New York, Feb 10, 2026, 17:01 (EST) — Trading continues after hours
- Shopify shares climbed roughly 7.6%, closing at $127.24 in after-hours trading
- MoffettNathanson raised its rating to buy and bumped the price target up to $150
- Traders are gearing up for Shopify’s earnings and forecast on Feb. 11
Shares of Shopify Inc jumped roughly 7.6% to $127.24 in after-hours trading Tuesday following an upgrade from MoffettNathanson, which also lifted its price target to $150 from $122. During the session, the stock fluctuated between $121.81 and $128.82. (Investing)
The move comes as traders remain jittery following last week’s sell-off in software and internet stocks, sparked by worries that emerging AI tools might disrupt established players. “The market is sharply oversold, so even a small piece of good news can have a big impact,” Keith Lerner, chief investment officer at Truist Advisory Services, said Monday. (Reuters)
Shopify’s surge came amid mixed U.S. stock results after retail sales unexpectedly stalled in December, signaling shaky consumer demand as the year begins. The S&P 500 dropped 0.33%, the Nasdaq slipped 0.59%, while the Dow hit a record high. Janney Montgomery Scott’s Mark Luschini noted, “nobody wants to get too far above their risk budget” ahead of Wednesday’s delayed jobs report. (Reuters)
In a separate note, Investing.com described the brokerage’s upgrade as a long-term play on “conversational commerce”—shopping that begins and ends within a chat—believing it will transform how consumers purchase online. (Investing)
Other analysts offered a more nuanced view. BMO Capital cut its price target from $190 down to $150 but held onto an outperform rating, calling the move a “software-sector de-rating.” They still expect “a solid quarter” from Shopify and pointed to “agentic commerce” — AI assistants that can shop and complete purchases — as a possible advantage. (Investing)
Options traders are gearing up for a sharp move when earnings drop. According to Barchart, the market expects a swing of about 9.68% either way by the end of the week. The buzz centers on Shopify’s AI-driven shopping initiatives, thanks to new partnerships with Google and OpenAI. Amazon and eBay remain the go-to comparisons for gauging traffic and conversion trends. (Barchart)
Analysts monitored by TradingView’s Stock Story are forecasting Wednesday’s revenue to hit around $3.60 billion, with adjusted earnings near $0.51 per share. (TradingView)
The bar remains high. Shopify’s valuation is still steep, and even a slight sign that merchant demand is weakening—or that AI-driven shopping tools aren’t boosting sales as quickly as hoped—could quickly reverse the rally.
Investors will focus closely on gross merchandise volume (GMV), which tracks the value of goods sold on Shopify’s platform, alongside operating margin. They’re hunting for signs that growth remains steady amid wider market debates over consumer momentum and upcoming rate changes.
Shopify plans to announce its fourth-quarter and full-year results before the market opens on Wednesday, Feb. 11. The company’s management will follow up with a conference call at 8:30 a.m. ET. (Shopify)
