New York, Feb 17, 2026, 13:30 EST — Regular session
- Shopify slipped roughly 0.2% by midday, with software names generally still feeling the squeeze. 1
- Truist bumped Shopify up to “buy” from its previous rating and lifted the price target to $150, up from $110, citing what it calls a valuation reset. 2
- Shopify’s $2 billion share buyback plan, cleared by its board, kicks in Feb. 17. 3
Shopify Inc slipped roughly 0.2% to $112.46 on Tuesday, with shares finding some footing after Truist Securities bumped its rating for the e-commerce firm to “buy.” Caution still lingered among traders as high-growth software names came under pressure. 1
Shopify’s earnings call comes at a tricky moment, with the stock caught between investor doubts over software valuations and cash returns, just as the company pushes fresh spending on tools and expansion.
Shopify’s $2 billion share buyback program kicks in this day, which could hand bulls a fresh level to track in both price moves and daily volume. 3
Truist bumped Shopify up to buy from hold and hiked its price target to $150, up from $110. The call? Analyst Terry Tillman pointed to the “large drawdown in software valuations related to AI fears,” saying the broad AI-driven selloff has cracked open “an attractive” entry for investors thinking longer term. 2
Shopify disclosed last week that its buyback program carries no set end date. The company can tweak, pause, or scrap the plan altogether, picking up shares on the open market as it sees fit. 3
Shopify shares are working through the company’s recent quarterly update. Management called for first-quarter revenue to climb in the low-30% range—a notch above what analysts had penciled in. But adjusted earnings fell short, with expenses linked to growth initiatives, AI investments, and marketing weighing heavier than some anticipated, according to Reuters. 4
Shopify’s president Harley Finkelstein told Reuters orders driven by AI search have jumped 15 times since January 2025. Investors are latching onto that figure as they weigh Shopify’s “conversational” shopping tech push. 4
Shopify tends to track alongside other high-multiple software and internet names—shares moving with shifts in rates or growth sentiment, regardless of whether there’s fresh news about the company itself.
But there’s a flip side here. Should consumer demand falter, or Shopify’s free cash flow margin—meaning the portion of sales remaining after cash costs and investments—remains squeezed, then even buybacks and upgrade chatter might not keep traders from selling into tech softness on the rallies. 4
Ahead, growth stocks could be in for a shake as macro triggers approach. Traders are set to pore over the Federal Reserve’s January meeting minutes when they land this Wednesday, searching for any rate signals. 5
Eyes now turn to Friday, when the U.S. PCE inflation report lands—a data point that can quickly shift rate outlooks and, in turn, valuations for names such as Shopify. 6
