NEW YORK, February 18, 2026, 19:25 (EST) — After-hours
Shopify Inc. shares trading in the U.S. jumped roughly 7% Wednesday, staying around that gain after hours following a new bullish note from Truist Securities. The stock was recently up $8.12 to $121.64.
This shift is important: Shopify’s been tangled up in the market debate about which software stocks stand to gain from artificial intelligence—and which could lose out. Lately, traders haven’t hesitated to hit anything that even hints at “platform risk,” even if the company just posted a solid quarter.
This comes right as Shopify’s latest share buyback program starts moving from talk to execution. According to a filing, the plan kicked in on Feb. 17 without a set end date.
Truist bumped Shopify up to Buy from Hold and raised its price target to $150, up from $110. Analyst Terry Tillman flagged the recent “large drawdown in software valuations related to AI fears,” calling it an appealing entry for long-term investors in Shopify. He cited the company’s scale and fresh growth numbers in the note. Investing
TheFly cited a Truist note outlining the upgrade, pitching Shopify as a play on “agentic commerce”—AI capable of shopping on a customer’s behalf—and arguing the company could push its U.S. e-commerce share past the present 14%-plus mark. TipRanks
Shopify plans to carry out the buyback through pre-set algorithmic trading, with no fixed targets for any quarter or year. “We are launching this share repurchase program from a position of financial and operating strength,” Chief Financial Officer Jeff Hoffmeister said in the earnings press release. Securities and Exchange Commission
Shopify announced a buyback and picked up a fresh upgrade after last week’s earnings, which paired a strong revenue forecast with new concerns over cash flow. “This was an excellent result for Shopify,” said Gil Luria at D.A. Davidson. President Harley Finkelstein, speaking to investors, summed it up: “The AI era has now reached commerce.” Reuters
Shopify shares moved in a range from $112.56 to $124.71 on Wednesday, with trading volume hitting roughly 18.2 million shares, Investing.com data showed. Stocks pushed higher across the board, as the S&P 500 added 0.6% and the Nasdaq closed 0.8% higher.
Still, things could turn south fast. The stock’s been hitching a ride with the software sector overall, and a fresh bout of “AI disruption” selling—or even the slightest dip in consumer demand—could send it sliding right back to last week’s lows.
Looking ahead to the next session, investors are set to gauge if buyers step back in after Truist’s call once trading kicks off Thursday—and whether the announced repurchase program actually lends the stock steady support on dips. Walmart is also on deck, with quarterly numbers expected before the bell on Feb. 19—a bellwether for U.S. consumer spending.
