RBC raises target for Shopify stock from USD 180 to USD 200

Published on 10/22/2026 at 11:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Shopify will report third-quarter results on November 3, 2026. Shopify stock costs EUR 152.12 on October 22, 2026 in trading.

Growth and analyst signals

RBC Capital Markets lifted its Shopify target to USD 200 on October 21, 2026.
Shopify reported USD 3.58 billion in second-quarter revenue, up 34.00 percent year over year.
Shopify stock trades at EUR 152.12 at 10:49 a.m. CEST at Lang & Schwarz on October 22, 2026.
Shopify will publish third-quarter results on November 3, 2026.

SHOP, CA82509L1076, Illustration mit AI erstellt.

Shopify stock (ISIN CA82509L1076) was trading at EUR 152.12 at Lang & Schwarz on October 22, 2026 at 10:49 a.m. CEST. According to Boerse Express on October 21, 2026, RBC Capital Markets raised its target for Shopify from USD 180 to USD 200 and kept an Outperform rating.

The target change gives the upcoming report a clear test. Shopify is scheduled to publish its third-quarter results before US markets open on November 3, 2026, with a conference call at 8:30 a.m. ET, according to Shopify.

What does the target change mean?

RBC's higher target rests against a strong latest reported quarter. For the second quarter of 2026, Shopify generated USD 3.58 billion in revenue, up 34.00 percent from the year-earlier period, while gross merchandise volume reached USD 115.57 billion, up 32.00 percent. The figures were reported in the company's results release carried by GlobeNewswire.

Cash generation also improved in that period. Free cash flow reached USD 654 million, equal to an 18.00 percent margin versus 16.00 percent a year earlier. The same release showed operating income of USD 488 million, compared with USD 291 million in the second quarter of 2025.

Three dated signals shape the setup

On August 5, 2026, Shopify reported second-quarter revenue of USD 3.58 billion and free cash flow of USD 654 million. On October 6, 2026, the company announced the November 3 reporting date. On October 21, 2026, Boerse Express reported RBC's target increase from USD 180 to USD 200.

Which dates matter next?

The next reporting date is November 3, 2026, before the opening of US markets. Shopify's conference call follows at 8:30 a.m. ET on the same date, giving investors a second scheduled point for management commentary.

Stock enters the reporting window

The euro quotation places Shopify in the reporting window with a live German-market reference. The key operating question is whether third-quarter revenue growth can match the low-thirties percentage outlook issued for the period.

The further course of trading is shown by the continuously updated real-time quote of Shopify stock.