Wells Fargo Lowers Shopify Target Price, Maintains Positive Outlook on AI Commerce
Wells Fargo has reduced its price target for Shopify (SHOP) from $191 to $166, citing slower-than-expected adoption of Agentic commerce. However, the firm still maintains an Overweight rating, believing Shopify will benefit from AI commerce in the long term. Shopify's CFO highlighted continued growth drivers and improved operating expenses in Q1 2026.
Topics: AI Commerce Analyst Outlook Price Target Shopify Wells Fargo