Shopify (SHOP) shares rose after Bank of America reinstated coverage with a Buy rating. The bank established a $150 price target for the e-commerce platform.
Analysts identified Shopify as a primary beneficiary of the shift toward AI-driven agentic commerce. The report argues that as AI interfaces handle more transactions, value will shift to infrastructure layers like Shopify’s checkout and payment systems.
Bank of America stated that investor concerns regarding AI bypassing Shopify are misplaced. These fears contributed to a year-to-date decline in share price, which analysts now view as a buying opportunity. The bank observed a significant rise in AI-driven traffic and orders across the platform.
In a separate development, Payfuture launched a new integration with Shopify. This partnership provides local payment methods for merchants in India to expand Shopify's presence in that market.