JPMorgan Raises PT on Shopify Inc. (SHOP) Citing Strongest Growth Trends Since Pandemic

With strong revenue growth and significant hedge fund interest, Shopify Inc. (NASDAQ:SHOP) secures a spot on our list of the 14 Best IT Stocks to Buy for the Long Term.

On August 7, 2025, JPMorgan raised its price target on Shopify Inc. (NASDAQ:SHOP) from $115 to $179, maintaining an ‘Overweight’ rating. This price revision reflects the company’s strongest growth trends since the pandemic.

For Q2 2025, Shopify Inc. (NASDAQ:SHOP) reported a surge in its Gross Merchandise Volume and Gross Payment Volume segments, while its notional volume growth hit a record high. JPMorgan noted that consumer demand remained unaffected by tariffs, and the company’s volume growth was driven by price increases by some merchants.

Looking ahead, Shopify Inc. (NASDAQ:SHOP) projected over 20% gross margin growth in Q3, along with expanding free cash flow margins, beating Street expectations.

With its commerce technology solutions, Shopify Inc. (NASDAQ:SHOP) helps merchants globally manage sales, payments, fulfillment, analytics, and financing across digital and physical retail channels. It is one of the best IT stocks.

While we acknowledge the potential of SHOP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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