Shopify Inc. (NASDAQ:SHOP) is one of the 12 Best Revenue Growth Stocks to Buy According to Wall Street Analysts. On May 7, Barclays reduced its price target on Shopify Inc. (NASDAQ:SHOP) from $130 to $126 and maintained an Equal Weight rating on the stock.
On the same day, Citi also cut its price target on Shopify Inc. (NASDAQ:SHOP) from $163 to $156 and maintained its Buy rating on the stock. The research firm noted that the company’s sales momentum continued in the first quarter.
These updates came after the company reported its first-quarter results. Shopify Inc. (NASDAQ:SHOP) reported revenue growth of 34% year-over-year and 15% free cash flow margins. The company said the quarter showed broad-based growth across geographies, merchant sizes, and channels. In the first quarter alone, Shopify Inc. (NASDAQ:SHOP) reported more than $100 billion in gross merchandise volume (GMV).
Harley Finkelstein, President of Shopify Inc. (NASDAQ:SHOP), said the company has “entered the AI era with a clear edge: strong, durable growth and two decades of commerce intelligence.” He pointed out that this puts the company in a “category of one,” and that this advantage will “compound throughout 2026.”
Looking ahead, Shopify Inc. (NASDAQ:SHOP) expects second-quarter 2026 revenue to grow at a high-twenties percentage rate on a year-over-year basis.
Shopify Inc. (NASDAQ:SHOP) is a Canadian multinational commerce and financial technology company that offers an all-in-one e-commerce platform and a wide range of financial tools and services.
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