Shares of e-commerce software platform Shopify (NYSE:SHOP) jumped 4.3% in the afternoon session after the second quarter (2025) earnings season got off to a strong start. Quarterly earnings reports released during the week exceeded Wall Street's expectations, fueling investor confidence. Around 50 S&P 500 components reported, with 88% of those exceeding analysts' expectations, FactSet data revealed.
Investors were also encouraged by several positive reports that painted a picture of a resilient consumer. One key report revealed that shoppers increased their spending at U.S. retailers more than economists had anticipated. Precisely, retail sales increased 0.6% from May, surpassing the 0.2% estimate. This robust consumer spending is a crucial pillar supporting the economy.
Shopify Inc. (NASDAQ: SHOP) shares are trading higher Monday after Needham & Company initiated coverage on the stock with a Buy rating and a $135 price target.
The Prime Day event drove a 30% gain in revenue across the eCommerce spectrum, revealing strength in these companies and increasing the expectation for earnings
SHOPIFY INC (NASDAQ:SHOP) is a high-growth stock with strong fundamentals and a bullish technical setup, making it a candidate for investors seeking growth and momentum opportunities.
Shopify Inc. stock looks like a bargain as the company is generating high free cash flow margins. Moreover, analysts are predicting higher sales over the next 12 months. That could push the value of the stock up by 21.9% to $136.66.
A number of stocks fell in the afternoon session after the Trump administration announced intentions to impose a 35% tariff on many goods imported from Canada.
