Canandaigua National Bank & Trust Co. Makes New Investment in Shopify Inc. $SHOP

Canandaigua National Bank & Trust Co. acquired a new position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,416 shares of the software maker’s stock, valued at approximately $733,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Kingdom Financial Group LLC. acquired a new position in shares of Shopify in the fourth quarter valued at approximately $26,000. Curio Wealth LLC bought a new position in shares of Shopify in the 4th quarter valued at about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $29,000. Lloyd Advisory Services LLC. acquired a new position in Shopify during the fourth quarter worth $31,000. Finally, Sound Income Strategies LLC increased its stake in shares of Shopify by 82.4% during the 4th quarter. Sound Income Strategies LLC now owns 197 shares of the software maker’s stock worth $31,000 after purchasing an additional 89 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $150.00 price target (down from $165.00) on shares of Shopify in a research note on Tuesday, May 5th. Bank of America assumed coverage on Shopify in a research note on Tuesday, July 7th. They issued a “buy” rating and a $150.00 price target for the company. Robert W. Baird set a $150.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. BTIG Research initiated coverage on Shopify in a report on Friday, July 10th. They set a “buy” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus target price of $161.03.

Shopify Stock Up 17.0%

Shares of NASDAQ SHOP opened at $144.24 on Thursday. The firm has a fifty day simple moving average of $117.98 and a 200 day simple moving average of $119.65. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company has a market capitalization of $187.17 billion, a PE ratio of 142.81, a P/E/G ratio of 2.66 and a beta of 2.58.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.58 billion for the quarter. During the same period in the prior year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. As a group, equities analysts expect that Shopify Inc. will post 1.4 earnings per share for the current fiscal year.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported second-quarter revenue of $3.58 billion, up 33.7% year over year, and adjusted EPS of $0.42, exceeding the roughly $0.40 consensus estimate. Profitability and operating income also beat expectations. Shopify Profit Jumps as Subscriptions, Merchant Services Boost Revenues
• Positive Sentiment: The company forecast third-quarter revenue of approximately $3.7 billion to $3.8 billion, implying low-30% growth and topping the $3.6 billion analyst estimate. The outlook was a major catalyst for the stock’s move higher. Shopify expects Q3 revenue growth in the low 30s as it expands agentic commerce infrastructure
• Positive Sentiment: Growth was broad-based: gross merchandise volume, revenue, gross profit and free cash flow each grew more than 30%, while free-cash-flow margin reached 18%. Subscription solutions and merchant services both contributed to the performance. Shopify Delivers Big: 30%+ Growth Across GMV, Revenue, Gross Profit and Free Cash Flow
• Positive Sentiment: AI appears to be complementing rather than replacing Shopify’s platform. AI-referred traffic and orders reportedly tripled year over year, with tools such as ChatGPT and Gemini directing more shoppers to merchants. Shopify is expanding “agentic commerce” infrastructure to capture this trend. Shopify executive discusses AI and entrepreneurship
• Neutral Sentiment: Shopify’s valuation remains demanding after the rally, with a reported price-to-earnings ratio above 140, leaving the stock sensitive to any slowdown in growth or disappointment in future guidance.
• Negative Sentiment: CEO and governance-related comments, including support for a voting plan that could give wealthy taxpayers additional voting power, may create reputational or governance concerns, although they were not the primary driver of the trading session. Shopify CEO backs voting plan

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.