Shopify Inc. (NASDAQ:SHOP) is one of the The 12 Best Income Growth Stocks to Buy According to Wall Street Analysts. On May 7, Barclays lowered its price target on Shopify Inc. (NASDAQ:SHOP) from $130 to $126 and maintained an equal weight rating on the stock.
The same day, Citi also lowered 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 34% year-over-year revenue growth and 15% free cash flow margins. The company said the quarter showed broad 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 advantage: strong, long-lasting growth and two decades of business intelligence.” He noted that this places the company in a “category one” and that this advantage “will worsen throughout 2026.”
Looking ahead, Shopify Inc. (NASDAQ:SHOP) expects Q2 2026 revenue to grow at a percentage rate of more than 20% year over year.
Shopify Inc. (NASDAQ:SHOP) is a Canadian multinational business 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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