New York, February 9, 2026, 14:38 (EST) — Regular session
- Shopify shares jumped in the afternoon, with the company set to report results Wednesday.
- BMO lowered its price target to $150, though it maintained an Outperform rating.
- Citizens is sticking with its $200 target, while highlighting the chance for a “beat-and-raise” this quarter.
Shopify Inc jumped 6.8% to $119.64 by Monday afternoon, adding $7.59 from the last close. Shares moved within a range of $111.09 to $119.89, changing hands almost 9 million times.
Shopify shares are climbing, with the company’s fourth-quarter and full-year 2025 earnings set for release before the U.S. open on February 11. The company has lined up its conference call for 8:30 a.m. ET that day. 1
Timing isn’t just about one ticker. Tech stocks bounced back, taking the lead after software names got squeezed last week. Now traders are eyeing Wednesday’s U.S. payrolls and Friday’s consumer inflation numbers—data that could shake up rate-cut expectations and hit high-growth valuations. “On the stock front, it seems to be the traditional buy-the-dip by retail investors,” said Oliver Pursche, senior vice president and advisor at Wealthspire Advisors. 2
BMO Capital’s Thanos Moschopoulos trimmed his price target on Shopify down to $150 from $190, but held onto the Outperform rating ahead of the company’s earnings release, according to The Fly on Monday. The adjustment, the firm explained, isn’t due to Shopify’s performance but rather reflects a broader “de-rating” across the software sector—meaning investors are granting lower valuation multiples. BMO still expects “a solid quarter” from Shopify. 3
Andrew Boone at Citizens is sticking with his Market Outperform call on Shopify and holding his $200 price target. Boone says Shopify’s outpacing other eCommerce names right now, and he sees a real shot at a “beat-and-raise” quarter—meaning results that clear the bar and a guidance hike. He flagged the chance that GMV, or gross merchandise value, could pick up speed again as Shopify continues grabbing share and leans further into bigger clients. 4
That split-screen dynamic is everywhere in software these days. Target prices keep getting shaved as investors rethink their appetite for growth, yet bulls are sticking to their guns, pointing to share gains and holding onto the notion that demand hasn’t faltered.
Peers weren’t all moving together. Wix.com hovered near flat by the afternoon; Etsy dropped roughly 2.8%.
Shopify’s coming challenge isn’t about new products—it’s about how the company frames its narrative on Wednesday. Investors zero in on GMV trends, payments momentum, and operating leverage, since even minor adjustments to guidance can move the numbers fast.
Still, that dynamic goes both directions. If management adopts a wary stance on consumer spending, or if pressure from rivals starts to eat into pricing and margins, the stock could take a hit—even with a solid quarter.
Shopify delivers results before the bell Wednesday, with investors eyeing any hints on 2026 as closely as Q4 numbers. Elsewhere, traders are watching this week’s U.S. data slate—payrolls and inflation could move the needle.
