Shares of e-commerce platform Shopify (NYSE:SHOP) jumped 6.8% in the afternoon session after the company received positive analyst commentary following the announcement of a new partnership with OpenAI’s ChatGPT. TD Securities reinstated coverage with a Hold rating but increased its price target to $156 from $130. The collaboration integrated an ‘Instant Checkout’ feature within ChatGPT, allowing merchants to sell products directly to consumers. Analysts highlighted that, unlike many large tech companies, Shopify could monetize this artificial intelligence integration without heavy capital spending, allowing the new revenue to contribute directly to free cash flow.
Is now the time to buy Shopify? Access our full analysis report here.
Shopify’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 4 days ago when the stock gained 5.4% on the news that the company announced a new partnership with OpenAI. The collaboration will integrate an “Instant Checkout” feature directly into ChatGPT, allowing users to seamlessly buy products from Shopify merchants. This news signals an advancement in “agentic commerce,” where AI assists in the entire purchasing process. The announcement helped boost investor confidence in the company’s focus on AI innovation.
Shopify is up 48.7% since the beginning of the year, and at $159.91 per share, has set a new 52-week high. Investors who bought $1,000 worth of Shopify’s shares 5 years ago would now be looking at an investment worth $1,501.
Today’s young investors likely haven’t read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
Shares of e-commerce platform Shopify (NYSE:SHOP) jumped 6.8% in the afternoon session after the company received positive analyst commentary following the announcement of a new partnership with OpenAI’s ChatGPT. TD Securities reinstated coverage with a Hold rating but increased its price target to $156 from $130. The collaboration integrated an ‘Instant Checkout’ feature within ChatGPT, allowing merchants to sell products directly to consumers. Analysts highlighted that, unlike many large tech companies, Shopify could monetize this artificial intelligence integration without heavy capital spending, allowing the new revenue to contribute directly to free cash flow.
Is now the time to buy Shopify? Access our full analysis report here.
Shopify’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 4 days ago when the stock gained 5.4% on the news that the company announced a new partnership with OpenAI. The collaboration will integrate an “Instant Checkout” feature directly into ChatGPT, allowing users to seamlessly buy products from Shopify merchants. This news signals an advancement in “agentic commerce,” where AI assists in the entire purchasing process. The announcement helped boost investor confidence in the company’s focus on AI innovation.
Shopify is up 48.7% since the beginning of the year, and at $159.91 per share, has set a new 52-week high. Investors who bought $1,000 worth of Shopify’s shares 5 years ago would now be looking at an investment worth $1,501.
Today’s young investors likely haven’t read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
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