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Jefferies upgrades Shopify on expectations for accelerating AI-driven orders

The firm set a $160 price target after noting rising AI-generated orders over the past year and looking ahead to an earnings report in under three weeks.

Reported · Written up by our desk · Previews

Shopify is drawing fresh bullish attention ahead of its next earnings report, as Jefferies upgraded the stock to Buy and raised its price target to $160, suggesting nearly 30% upside from current levels, according to MarketBeat Ratings.

The upgrade centers on Shopify's push toward agentic commerce, with the thesis that the e-commerce platform is positioning itself less as a provider of chatbot features and more as the infrastructure layer where AI agents can execute shopping tasks for merchants and consumers.

The article points to evidence of momentum, saying management has highlighted a substantial increase in AI-generated orders over the past year, a sign that automated shopping flows are already accelerating on the platform.

MarketBeat Ratings also notes the stock has climbed about 13% over the past month, though it remains down more than 20% year to date and is trading near December 2020 levels, setting up a closely watched earnings catalyst within the next three weeks.

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