Overview
- Shopify posted Q1 2026 revenue of $3.17 billion, up 34% year over year, and processed more than $100 billion in gross merchandise volume — total sales on its platform — for the first time.
- Management forecast Q2 revenue growth in the high‑20% range, which prompted a sharp sell‑off that left the stock about 30% to 35% below its recent 52‑week high.
- Cathie Wood’s ARK Invest bought about 255,804 Shopify shares worth $32.6 million on Tuesday after the report, and sold roughly $15.6 million of Advanced Micro Devices the same day.
- Executives framed a push into AI, citing an eightfold jump in AI‑driven traffic to merchant stores and AI now writing more than half of the company’s internal code, with work that includes the Universal Commerce Protocol with Google.
- Analysts maintain a Strong Buy view with an average price target near $157.64, and Shopify points to a $2 billion share repurchase authorization and mid‑teens free cash flow margins as support for longer‑term plans.