Shopify Inc. (NASDAQ:SHOP) is one of the top stocks to buy for the long-term. On May 20, Piper Sandler reiterated an Overweight rating on Shopify Inc. (NASDAQ:SHOP) and a $150 price target. The bullish stance contrasts with the stock’s underperformance and decline of over 30% over the past six months.
The research firm remains optimistic about the company’s long-term prospects, as Sidekick use is up by 100%-200% among expert merchants. Sidekick is Shopify’s built-in AI commerce assistant that executes tasks, generates reports, and edits store settings. While net new business slowed in the first quarter, it has shown signs of improvement in the second quarter.
In the first quarter, Shopify exceeded expectations, with gross merchandise volume growing 35% year over year. Operating margin improved 12.1% as revenue growth reached multi-year highs of 34%, with free cash flow margins of 15%.
Shopify Inc. (NASDAQ:SHOP) is a cloud-based e-commerce platform that allows individuals and businesses to create, customize, and manage their own online stores. It provides the digital infrastructure to sell physical and digital products across multiple channels, process payments, track inventory, and manage shipping.
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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