Research
Bernstein Initiates Coverage on Shopify With Outperform Rating
Shopify (SHOP) has an average rating of overweight and mean price target of CA$240.23, according to analysts polled by FactSet.
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Research
Phillip Securities Downgrades Shopify to Accumulate From Buy
Shopify (SHOP) has an average rating of overweight and mean price target of CA$240.23, according to analysts polled by FactSet.
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Wire
Shopify Heading for Agentic Future With Strong Q2, Wedbush Says
Shopify (SHOP) delivered a broad-based outperformance in Q2, with results well ahead across all metrics, including revenue and gross merchandise volume, Wedbush said in a Thursday note."This quarter was a testament that Shopify continues to play a more critical role in global commerce," the report said.The note pointed among others to US e-commerce share gain, in B2B, international, and increasingly in enterprise.The report also said Shopify is building for agentic commerce with products like Catalog, API integrations with vibe coders, and also leaning into AI products for merchants' stores."These functionality improvements, along with other strengths like payments are also creating a stronger enterprise offering, the note said.Wedbush raised its price target to $176 from $155 while retaining its outperform rating.Price: $146.47, Change: $+2.23, Percent Change: +1.55%
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Research
Shopify Price Target Raised to US$180 at RBC
RBC Capital Markets raised its price target on Shopify Inc. (SHOP.TO, SHOP) to US$180 from US$170.Analyst Paul Treiber maintained an outperform rating on shares of the Ottawa-based e-commerce company following its Q2 results and Q3 guidance on Wednesday.Shopify rose more C$28.65, or 17%, to C$201.97 Wednesday on the Toronto Stock Exchange."The quarter shows that Shopify is gaining market share as a result of its AI innovations, while AI token costs are not having a material impact on profitability," Treiber said in a note to clients.
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Sectors
Sector Update: Tech Stocks Mixed Late Afternoon
Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) slightly rising and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.4%.The Philadelphia Semiconductor index was down 0.5%.In corporate news, SpaceX (SPCX) reported Q2 capital expenditures of $18.37 billion, up from $2.83 billion a year ago, taking the shine off a narrower-than-expected loss and above-consensus revenue growth. The shares fell past 12%.Nvidia (NVDA) shares rose 4.1% after SpaceX CEO Elon Musk said the company will build its AI services exclusively on Nvidia's systems.OpenAI accounted for over half and likely about 70% of Microsoft's (MSFT) AI sales in its most recent fiscal year, Bloomberg reported Wednesday, citing company disclosures and its own analysis. Microsoft shares were down 0.5%.Shopify (SHOP) reported Q2 earnings above Wall Street's expectations on Wednesday, while it recorded annual growth of more than 30% each in its revenue, gross merchandise volume and gross profit metrics. Its shares jumped past 17%.
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Sectors
Sector Update: Tech
Tech stocks were mixed late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.5%.The Philadelphia Semiconductor index was down 0.2%.In corporate news, Shopify (SHOP) reported Q2 earnings above Wall Street's expectations on Wednesday, while it recorded annual growth of more than 30% each in its revenue, gross merchandise volume and gross profit metrics. Its shares jumped past 19%.
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Wire
National Bank Financial Raises Shopify Price Target to CA$180 From CA$155, Outperform Rating Kept
National Bank Financial Raises Shopify Price Target to CA$180 From CA$155, Outperform Rating Kept
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Wire
Top Midday Stories: SpaceX Shares Fall After Inaugural Results; AMD Drops Despite Strong Q2 EPS, Revenue
US equities were mixed and crude oil eased in late-morning trading Wednesday as investors remained hopeful that a deal to reopen the Strait of Hormuz may be reached soon by the US and Iran.In company news, Space Exploration Technologies (SPCX) reported a Q2 loss late Tuesday of $0.09 per diluted share, narrowing from the loss of $0.34 a year earlier. Analysts surveyed by FactSet expected a loss of $0.23. Revenue rose to $7.81 billion from $4.07 billion, topping the $6.83 billion consensus. CEO Elon Musk said SpaceX will build its AI services exclusively on Nvidia's (NVDA) systems. SpaceX shares fell 8.6% around midday, and Nvidia rose 3.4%.Advanced Micro Devices (AMD) reported fiscal Q2 adjusted diluted EPS late Tuesday of $1.66, up from $0.48 a year earlier, above the $1.62 consensus. Revenue rose to $11.64 billion from $7.69 billion, exceeding the $11.31 billion market estimate. The company expects Q3 revenue of $13 billion, plus or minus $300 million, compared with the $12.54 billion consensus. AMD shares fell 6.8%.Shopify (SHOP) reported Q2 EPS of $1.16, up from $0.69 a year earlier and above the $0.30 consensus. Revenue rose to $3.58 billion from $2.68 billion, exceeding the $3.43 billion estimate. The company expects Q3 revenue to gain more than 30%. Shopify shares jumped 17%.Walt Disney (DIS) reported fiscal Q3 adjusted diluted EPS of $2.06, up from $1.61 a year earlier and above the $1.86 consensus. Revenue rose to $25.25 billion from $23.65 billion, trailing the $25.39 billion estimate. Disney shares rose 1.9%.Eli Lilly (LLY) reported Q2 non-GAAP EPS of $8.38, up from $6.31 a year earlier and above the $6.01 consensus. Revenue rose to $22.97 billion from $15.56 billion, topping the $20.69 billion consensus. The company expects full-year non-GAAP EPS of $35.50 to $36.50, compared to previous guidance of $35.50 to $37. Revenue is expected to be $85 billion to $87 billion, up from the prior forecast of $82 billion to $85 billion. Analysts expect EPS of $35.04 on revenue of $85.28 billion. Separately, CVS Health (CVS) is revamping its direct-to-consumer weight management program, lowering the cost of virtual visits and expanding access to GLP-1 medications through a collaboration with Lilly. Shares of Lilly rose 2.8%, and CVS dropped 5.8%.Uber Technologies (UBER) reported Q2 non-GAAP EPS of $0.81, up from $0.60 a year earlier and matching the consensus. Revenue rose to $14.19 billion from $12.65 billion, trailing the $14.24 billion consensus. The company expects Q3 non-GAAP EPS of $0.84 to $0.88, compared with the $0.87 market estimate. Uber shares fell 6.6%.Price: $114.57, Change: $-10.77, Percent Change: -8.59%
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US Markets
Shopify Second-Quarter Results Top Street Views Amid Robust Growth Across Key Metrics
Shopify (SHOP) reported second-quarter earnings above Wall Street's expectations on Wednesday, while the Canada-based e-commerce platform recorded annual growth of more than 30% each in its revenue, gross merchandise volume and gross profit metrics.The company posted adjusted earnings of $0.42 a share for the June quarter, up from $0.35 the year before, topping the FactSet-polled consensus of $0.40. Net income rose to $1.16 per share from $0.69, defying the Street's view for a decline to $0.31.Revenue jumped 34% to $3.58 billion, surpassing the average analyst estimate of $3.45 billion. "This was a monster quarter: more than 30% growth in GMV and revenue and gross profit and free cash flow," President Harley Finkelstein said in a statement.The stock surged 16% in Wednesday trade.GMV, which represents the total dollar value of orders facilitated through the Shopify platform, advanced 32% to $115.57 billion, amid "solid results across all merchant sizes, channels and geographies," according to Chief Financial Officer Jeff Hoffmeister. Gross profit climbed 31% to $1.71 billion.Subscription solutions revenue rose 22% to $802 million in the second quarter, while merchant solutions soared 37% to $2.78 billion.For the third quarter, Shopify expects revenue to grow at a low-thirties percentage rate year over year from $2.84 billion reported a year earlier. The Street is looking for revenue of $3.60 billion. Gross profit dollars are pegged to increase by a mid-to-high twenties percentage rate, according to the company.RBC Capital Markets said last month that it believed third-quarter consensus estimates were conservative. The brokerage also estimated Shopify's guidance to come in slightly above consensus for the ongoing quarter, supported by sustained growth momentum, artificial intelligence cost management and conservative market expectations.Shopify expects third-quarter operating expenses to be 33% to 34% of revenue, compared with 37% in the year-ago period, reflecting continued operating leverage, Hoffmeister said during an earnings call, according to a FactSet transcript.Price: $145.78, Change: $+22.48, Percent Change: +18.23%
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Sectors
Sector Update: Consumer Stocks Edge Higher Premarket Wednesday
Consumer stocks were edging higher premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) advancing by 0.7%.Walt Disney (DIS) stock was up more than 3% after the company reported higher fiscal Q3 adjusted earnings and revenue.Shopify (SHOP) shares were up over 22% after the company posted higher Q2 earnings and revenue.Booking (BKNG) stock was up more than 6% after the company reported higher Q2 adjusted net income and revenue.
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Asia Markets
Update: Potential Strait of Hormuz Deal Buoys US Equity Futures Pre-Bell
(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging higher pre-bell Wednesday on optimism for a potential deal to reopen the Strait of Hormuz.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.2% higher.President Donald Trump said that the US had "very good discussions" with Iran, with the agreement to reopen the Strait of Hormuz potentially happening soon. An Axios report citing two regional sources said that the US, Iran, and Oman were nearing an interim agreement regarding the waterway.Meanwhile, US Central Command said in a post on X that the strait "remains free and open for all commercial vessels seeking to transit."Traders digested the latest round of earnings, with SpaceX (SPCX) reporting a narrower loss and higher revenue for Q2.Sandisk (SNDK) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect earnings of $34.96 per share on revenue of $8.48 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.2% at $80.31 per barrel and US West Texas Intermediate crude 0.7% higher at $76.26 per barrel.ADP's national employment report showed that private sector employment increased by 44,000 in July, below expectations for a 65,000 gain in a survey compiled by Bloomberg.The S&P Global purchasing managers' index composite final report for July is due at 9:45 am ET, followed by ISM's services data at 10:00 am ET.Federal Reserve Governor Lisa Cook and San Francisco Fed President Mary Daly are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 3.7% higher, Hong Kong's Hang Seng ended 0.2% higher, and China's Shanghai Composite finished 1.5% higher. Meanwhile, the UK's FTSE 100 was up 0.5%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, SpaceX shares fell 11% after the company reported Q2 total capital expenditures of $18.37 billion, up from $2.83 billion in the year-ago quarter. Advanced Micro Devices (AMD) stock was 8.5% lower despite posting better-than-expected fiscal Q2 results and issuing Q3 revenue guidance above consensus estimates. Uber Technologies (UBER) shares dropped 3.1% after the company reported lower-than-expected Q2 revenue.On the winning side, Eli Lilly (LLY) stock was up 4.9% after the company reported better-than-expected Q2 non-GAAP earnings and revenue, as well as increased its 2026 EPS outlook. Walt Disney (DIS) shares rose 3.1% after the company posted fiscal Q3 adjusted earnings that surpassed analysts' consensus. Shopify (SHOP) stock soared 21% after the company reported a Q2 earnings and revenue beat.
Dow JonesNasdaq CompositeS&P 500$AMD$DIS$LLY$SHOP$SNDK$SPCX$UBER
Mining & Metals
Update: Shopify Up 21% Pre-Market as its Q2 Net Income and Revenue Rise
(Updates to add pre-market Nasdaq trading.)Shopify (SHOP.TO, SHOP), last seen up 21% in pre-market Nasdaq trade, reported second quarter net income attributable to shareholders of $1.16 per share, compared to $0.69 per share a year earlier.Revenue for the quarter ended June 30 was $3.58 billion compared to $2.68 billion a year earlier, the company added Wednesday.Analysts polled by FactSet expected revenue of $3.43 billion.The company expects third quarter revenue to grow at a low-thirties percentage rate on a year-over-year basis, Shopify added.Shares of the financial technologies company were up $25.93 to $149.23 in premarket Nasdaq trade. They closed up C$9.23 to C$173.41 Tuesday on the Toronto Stock Exchange.
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US Markets
Stocks Rise Pre-Bell Amid Growing Hopes for Hormuz Deal; Traders Await More Corporate Earnings
The benchmark US stock measures were trending higher in Wednesday's premarket activity amid growing optimism over a potential deal to reopen the Strait of Hormuz, while investors await the latest batch of corporate earnings.The S&P 500 and the Dow Jones Industrial Average rose 0.3% each before the opening bell, while the Nasdaq edged up 0.1%. The S&P 500 and the Dow recorded fresh all-time highs on Tuesday, while the Nasdaq advanced for a fourth consecutive session.President Donald Trump reportedly said late Tuesday that an agreement to reopen the Strait of Hormuz, the world's most important chokepoint for crude flows, is imminent, following "very good discussions" with Iran, according to CNBC.Treasury Secretary Scott Bessent told CNBC on Tuesday that a potential deal to open the crucial waterway could be reached this week. Qatar's Foreign Ministry spokesperson Majed al-Ansari reportedly said that efforts to resolve the US-Iran conflict are "in very progressive stages."West Texas Intermediate crude oil increased 1.1% to $76.58 a barrel in premarket action, while Brent gained 1.7% to $80.73.Yemen's Iran-aligned Houthis reportedly claimed an attack on a Saudi Arabian tanker near the coast of Yanbu, a major port for Saudi crude oil exports, according to a separate CNBC report.Treasury yields were mixed before the open, with the two-year rate rising 1.2 basis points to 4.21% while the 10-year rate retreated 1 basis point to 4.62%.Eli Lilly (LLY), Walt Disney (DIS), Shopify (SHOP), Uber Technologies (UBER), CVS Health (CVS), Phillips 66 (PSX), Kraft Heinz (KHC) and Global Payments (GPN) are scheduled to report their latest financial results before the bell, among others.Sandisk (SNDK), AppLovin (APP), McKesson (MCK), DoorDash (DASH), eBay (EBAY) and Expedia (EXPE) post their earnings after the markets close.Shares of SpaceX (SPCX) dropped 12% pre-bell after the rocket and satellite company reported quarterly results for the first time since going public. Advanced Micro Devices (AMD) fell 8.6% even though it recorded fiscal second-quarter results above market estimates. Arista Networks (ANET) jumped 16%.Wednesday's economic calendar has the weekly mortgage applications bulletin at 7 am ET, followed by the ADP Employment report for July at 8:15 am. The purchasing managers' index composite final report from S&P Global (SPGI) for July is out at 9:45 am, followed by the Institute for Supply Management's services index for the same month at 10 am.The domestic EIA petroleum inventories report is due at 10:30 am.Federal Reserve Governor Lisa Cook is scheduled to speak at 4:05 pm, while San Francisco Fed President Mary Daly speaks at 8:35 pm.Gold gained 1.5% to $4,215 per troy ounce, while bitcoin slipped 0.2% to $64,146.
Dow JonesNasdaq CompositeS&P 500$AMD$ANET$APP$CVS$DASH$DIS$EBAY$EXPE$GPN$KHC$LLY$MCK$PSX$SHOP$SNDK$SPCX$SPGI$UBER
US Markets
Update: Dow Hits Record High as Oil Prices Slide on Iran Deal Hopes
(Updates with market moves at the end of the day, and other changes, if any.)The Dow Jones Industrial Average hit an all-time high on Monday as Wall Street extended its rally into the third day, while hopes for a US-Iran deal sent oil prices lower.The Dow rose 1.3% to 53,178.41, notching a record closing high. The Nasdaq Composite advanced 2.1% to 25,913.90, while the S&P 500 climbed 1.5% to 7,600.50. Most sectors were in the green, led by communication services' 4.3% jump, while energy led the laggards.West Texas Intermediate crude oil tumbled 5.2% to $80.29 a barrel in Monday late-afternoon trade, while Brent dropped 4.7% to $83.80.President Donald Trump said Monday that the US is in talks with Iran. He previously called off a planned attack against Tehran."Hopes of a peace deal in the Middle East weighed on crude prices," D.A. Davidson said Monday in a note.However, Iranian Foreign Ministry spokesperson Esmail Baghaei on Monday ruled out an immediate plan to negotiate with Washington, according to news reports. Tehran was in talks with Oman regarding the Strait of Hormuz, the world's most important chokepoint for crude flows, Baghaei reportedly said.Treasury yields were lower, with the 10-year rate down 6.1 basis points at 4.68% and the two-year rate falling 3.7 basis points to 4.25%.In company news, Boeing (BA) shares jumped 8%, the best performer on the Dow. The planemaker has received the US Federal Aviation Administration's clearance for its 737 Max 7, paving the way for the model's launch after nearly a decade of regulatory review.Atkore (ATKR) jumped 28% after the electrical products manufacturer announced a $3.8 billion deal to be acquired by Italian cable maker Prysmian.Marriott International (MAR) was the worst performer on the S&P 500, down 7%. The hotel giant reported second-quarter revenue below Wall Street's estimates amid headwinds related to the Middle East conflict, while it provided a downbeat earnings outlook for the ongoing three-month period.Major companies including SpaceX (SPCX), Eli Lilly (LLY), Advanced Micro Devices (AMD), Caterpillar (CAT), Merck (MRK), McDonald's (MCD), Walt Disney (DIS), Shopify (SHOP) and Uber Technologies (UBER) are slated to release their quarterly results this week.In economic news, the US manufacturing sector continued to grow in July, with Institute for Supply Management data indicating the fastest expansion rate in more than four years and S&P Global (SPGI) signaling steady growth pace.Spot gold edged up 0.2% to $4,052.94 per troy ounce, while silver rose 1% to $58.34 per ounce.
Dow JonesNasdaq CompositeS&P 500$AMD$ATKR$BA$CAT$DIS$LLY$MAR$MCD$MRK$SHOP$SPCX$SPGI$UBER
US Markets
Update: Equities Rise Intraday, Oil Slides Amid Middle East Deal Optimism
(Updates with latest market prices and developments.)US stocks climbed intraday as oil prices fell after President Donald Trump renewed hopes for a diplomatic breakthrough in the Middle East conflict.The Nasdaq Composite was up 2% at 25,877.1 after midday Monday, while the S&P 500 rose 1.3% to 7,586.4. The Dow Jones Industrial Average climbed 0.9% to 52,962.1. Among sectors, communication services paced the gainers, while energy led the laggards.West Texas Intermediate crude oil tumbled 5.8% to $79.77 a barrel, while Brent dropped 4.8% to $83.70.Over the weekend, Trump said negotiations with Iran would begin Monday, without revealing venue details, news outlets reported. In a social media post, Trump said that he called off a planned attack against Iran because the "perimeters of a deal has been agreed to.""Hopes of a peace deal in the Middle East weighed on crude prices," D.A. Davidson said Monday in a note.However, Iranian Foreign Ministry spokesperson Esmail Baghaei on Monday ruled out an immediate plan to negotiate with Washington, according to news reports. Tehran was in talks with Oman regarding the Strait of Hormuz, the world's most important chokepoint for crude flows, Baghaei reportedly said.Treasury yields were lower intraday, with the 10-year rate down 5.5 basis points at 4.69% and the two-year rate falling 3.1 basis points to 4.26%.In company news, Atkore (ATKR) jumped 28% intraday after the electrical products manufacturer announced a $3.8 billion deal to be acquired by Italian cable maker Prysmian.Lantheus (LNTH) will become a private company following the completion of an up to $8 billion deal with Curium. Lantheus shares were up 2.7% intraday.Integer (ITGR) agreed to be acquired and taken private by investment firm KKR (KKR) in an all-cash deal with an enterprise value of about $5.7 billion. Integer rose 2.7%, while KKR advanced 2.1%.Marriott International (MAR) shares were the worst performer on the S&P 500, down 7.1%. The hotel giant reported second-quarter revenue below Wall Street's estimates amid headwinds related to the Middle East conflict, while it provided a downbeat earnings outlook for the ongoing three-month period.Major companies including SpaceX (SPCX), Eli Lilly (LLY), Advanced Micro Devices (AMD), Caterpillar (CAT), Merck (MRK), McDonald's (MCD), Walt Disney (DIS), Shopify (SHOP) and Uber Technologies (UBER) are slated to release their quarterly results this week.Palantir Technologies (PLTR) is scheduled to release its latest quarterly results after markets close Monday.Spot gold fell 0.2% to $4,038.48 per troy ounce, while silver was up 0.1% at $57.83 per ounce.
Dow JonesNasdaq CompositeS&P 500$AMD$CAT$DIS$ITGR$KKR$LLY$LNTH$MAR$MCD$MRK$PLTR$SHOP$SPCX$UBER
US Markets
Stocks Rise Pre-Bell as Trump Calls Off Planned Iran Strikes; Labor Market Data, Corporate Earnings on Deck
The benchmark US stock measures were pointing higher before the opening bell Monday as President Donald Trump said he called off a planned attack on Iran, while traders await fresh labor market data and more corporate earnings later in the week.The S&P 500 rose 0.5%, the Dow Jones Industrial Average increased 0.6% and the Nasdaq added 0.4% in premarket activity. All three main indexes finished Friday trading in the green.In a social media post over the weekend, Trump said he canceled a planned attack against Iran after being asked by Tehran and other Middle Eastern countries to hold off because the "perimeters of a deal has been agreed to." The proposed deal would include the "immediate, complete, and total opening" of the Strait of Hormuz, Trump wrote."I have agreed, for the future benefit of the world and, likewise, the survival of a successful and prosperous Iran, to cancel the attack, subject to being able to rapidly make a deal," Trump said. Media reports last week said Trump was preparing for a fresh round of strikes against Tehran.West Texas Intermediate crude oil dropped 5.8% to $79.77 a barrel before the open, while Brent fell 4.7% to $83.82.On Sunday, seven members of the Organization of the Petroleum Exporting Countries and its allies, or OPEC+, said they agreed to raise combined oil production by 188,000 barrels per day next month.Fresh labor market data is scheduled to be released later this week, beginning with the Job Openings and Labor Turnover Survey for June on Tuesday. Last month's ADP employment and Challenger Job Cut reports are due on Wednesday and Thursday, respectively. The government's nonfarm payrolls data for July is out on Friday.Treasury yields were trending lower in premarket action, with the two-year rate retreating 4.7 basis points to 4.24% and the 10-year rate declining 6.1 basis points to 4.68%.Monday's economic calendar has the final Purchasing Managers' manufacturing index for July at 9:45 am ET, followed by the Institute for Supply Management's manufacturing index for the same month at 10 am.Major companies including SpaceX (SPCX), Eli Lilly (LLY), Advanced Micro Devices (AMD), Caterpillar (CAT), Merck (MRK), McDonald's (MCD), Walt Disney (DIS), Shopify (SHOP) and Uber Technologies (UBER) are slated to release their latest quarterly results this week.Palantir Technologies (PLTR), Williams (WMB) and Snap (SNAP) post their earnings after the markets close Monday, while Marriott International (MAR), EchoStar (ECHO) and Tyson Foods (TSN) are expected to announce their financial statements before the bell, among others.AstraZeneca's (AZN) US-listed shares slipped 5.1% pre-bell following media speculation that the company is in talks with Bristol Myers Squibb (BMY) about a potential combination that would create a pharmaceutical company valued at nearly $400 billion. Bristol Myers' stock gained 6.4%.Atkore (ATKR) jumped 27% early Monday after the electrical products manufacturer agreed to be acquired by Italian cable maker Prysmian in an all-cash deal with an enterprise value of about $3.8 billion.Gold inched 0.1% higher to $4,109 per troy ounce, while bitcoin was down 1.2% at $62,596.
Dow JonesNasdaq CompositeS&P 500$AMD$ATKR$AZN$BMY$CAT$DIS$ECHO$LLY$MCD$MRK$PLTR$SHOP$SPCX$TSN$UBER$WMB
Wire
Shopify Shares Fall After Rothschild & Co Redburn Downgrade
Shopify (SHOP) shares fall 1.5% in Tuesday trading after Rothschild & Co Redburn downgraded the stock to neutral from buy, and adjusted the price target to $130 from $160.Trading volume stood at over 4.2 million shares compared with a daily average of nearly 10.2 million.Price: $122.66, Change: $-1.83, Percent Change: -1.47%
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Research
Rothschild & Co Redburn Downgrades Shopify to Neutral From Buy, Adjusts Price Target to $130 From $160
Shopify (SHOP) has an average rating of overweight and mean price target of $150.27, according to analysts polled by FactSet.
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Research
Stifel Nicolaus Upgrades Shopify to Buy From Hold
Shopify (SHOP) has an average rating of overweight and mean price target of $160.15, according to analysts polled by FactSet.
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Wire
Visa, Stripe, Mastercard Among 140+ Firms Launching Open USD Stablecoin
Open Standard, an independent company backed by more than 140 businesses, launched Open USD, a new US dollar-backed stablecoin designed for global money movement, the company said Tuesday.Partners include Visa (V), Stripe, Mastercard, American Express, BlackRock, BNY, Google, Coinbase, Shopify, DoorDash, and Standard Chartered, among others. All plan to integrate Open USD into their systems once it goes live later this year.Open USD is designed around three principles: free minting and redemption with no volume limits, reserve earnings shared among partners minus a small management fee, and collaborative governance through a board made up of partners, the company said.Zach Abrams, co-founder of Stripe-owned Bridge, serves as founding CEO of Open Standard, according to the statement.Price: $343.74, Change: $+2.09, Percent Change: +0.61%
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