US Stocks Movement | Shopify Rises Over 2% in Pre-market; CIBC Reiterates $185 Price Target, Implies 50% Upside Potential
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Glonghui, July 10 — E-commerce platform Shopify continues to rise 2.28% in pre-market trading to $125.98. According to reports, CIBC reiterated its “outperform” rating for Shopify and maintained a target price of $185. The implied current upside for this target price is about 50%. Several institutions are unanimously optimistic about Shopify’s positioning in the agentic commerce wave, believing that AI-driven shopping discovery and transactions will bring structural growth opportunities to the platform. Alternative data from CIBC also shows that Plus merchant website traffic growth accelerated from 20% in Q1 to about 25%, and GMV has room for further upside.
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