NEW YORK, Jan 10, 2026, 16:20 (ET) — Market closed
- Shares of Shopify dropped roughly 2.3% in the previous session, ending the day at $164.48
- Microsoft and PayPal unveiled “Copilot Checkout,” spotlighting Shopify as a major commerce partner
- Scotiabank raised its price target for Shopify to $200 and upgraded the stock
Shopify Inc. shares dipped 2.3% to close at $164.48 on Friday, dropping despite U.S. stocks finishing the week strong.
The stock has resurfaced on trader radars following two headlines Thursday linked to what analysts describe as “agentic commerce”—AI-powered shopping that helps consumers discover and purchase products with fewer clicks.
Why it matters now: Shopify earns revenue as merchants boost sales and lean on its extra services. Changes in how shoppers find products or finalize purchases can directly impact gross merchandise value and payment volumes.
Microsoft announced that Copilot Checkout is now live in the U.S. on Copilot.com. Trusted partners powering the feature include PayPal, Shopify, and Stripe. Shopify merchants will be opted in automatically unless they choose to opt out, according to the company. Mani Fazeli, Shopify’s VP of Product, highlighted that Copilot Checkout can convert a customer “from intent to transaction in seconds.” Source
PayPal announced it will enable merchant inventory display and checkout within Copilot, describing the move as a step toward “AI-powered shopping experiences.” PayPal GM Michelle Gill highlighted that the partnership is “enabling seamless, reliable transactions for both merchants and consumers.” PayPal Newsroom
Scotia Capital’s Kevin Krishnaratne upgraded Shopify to “sector outperform” and raised his price target to $200, citing the potential for “agentic commerce” to add to overall retail sales instead of just eating into current channels. “We’ve always viewed Shopify as a core holding; now we’re recommending a buy,” he stated. Stockwatch
RBC analyst Paul Treiber reaffirmed an “outperform” rating with a $200 price target, noting Shopify is “likely a key beneficiary of the transition to next-generation commerce platforms” as its new offerings begin to generate revenue. Stockwatch
Friday’s retreat happened despite Wall Street gains, fueled by a softer-than-expected U.S. jobs report that kept rate cut optimism intact. Traders were also eyeing a potential U.S. Supreme Court decision on former President Donald Trump’s tariffs—an outcome that’s been flagged as a possible market catalyst.
Shopify is currently trading just above its 50-day simple moving average, a key trend indicator based on average closing prices, and remains comfortably above its 200-day moving average, per data from GuruFocus.
U.S. consumer price inflation is the next big macro hurdle for rate-sensitive growth stocks. The Labor Department will release its CPI report for December on Tuesday, Jan. 13 at 8:30 a.m. ET.
But Shopify bulls face a snag: “agentic” shopping hinges on consumer adoption and retailer buy-in, and merchants can choose to opt out. If fraud spikes, chargebacks rise, or conversion slips, those issues would probably surface first in payments and take-rate updates—not in flashy product demos.
Markets reopen Monday, and Shopify investors are eyeing retail-sector updates from NRF 2026 in New York, running Jan. 11–13. The next major earnings date on Nasdaq’s calendar is Feb. 10.
