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Piper Sandler Sees Agentic Shopping Driving Shopify Growth, Sets $180 Target

Oct 5, 2026, 11:18 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

Forecasted agentic-shopping adoption could lift GMV and revenue; multiple analyst targets suggest potential multiple expansion and positive sentiment, supporting mid-term upside after a recent move higher.

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What happened, with direct paths to the underlying reporting

Shopify shares rose after Piper Sandler reiterated an Overweight rating and a $180 target, citing rising demand for agentic shopping tools and migrations to Shopify. The firm notes agentic transactions may outpace large language model traffic and double average order values, supporting higher GMV and revenue growth—Piper projects 32% YoY growth by 2027 versus 26% consensus. Other analysts issued mixed updates on SHOP’s outlook.

Piper Sandler reiterates Overweight on SHOP with $180 target; cites agentic shopping demand.
Agentic transactions run ~2x the rate of LLM traffic and double average order values.
Piper projects 32% YoY revenue growth by 2027 vs 26% consensus.
Bernstein initiates with Outperform ($160); Mizuho also Outperform ($180); Phillip Securities sees Accumulate ($170).

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