DA Davidson Raises Shopify (SHOP) Price Target to $125, Maintains Buy Rating
Photo by Roberto Cortese on Unsplash
Despite rising competition, DA Davidson remains confident in Shopify's market leadership. The firm's valuation reflects optimism about Shopify's long-term potential, pricing the stock at 12 times its estimated 2026 revenue. Shopify continues to expand its merchant services and platform capabilities to strengthen its position in e-commerce.
Shopify Inc. (NASDAQ:SHOP) is a global commerce technology company that helps businesses of all sizes start, scale, and manage their operations. Its platform enables merchants to handle inventory, payments, orders, and customer relationships across online stores, physical locations, and marketplaces.
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.
READ NEXT: 12 Best Healthcare Stocks to Buy Now and 10 Stocks Analysts Are Upgrading Today.
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Politico
7 minutes ago
- Politico
Power struggle
Send tips | Subscribe here | Email Canada Playbook | Follow Politico Canada Thanks for reading Canada Playbook. Let's get into it. In today's edition: → The PM is under pressure to pull the plug on EV mandates. → MARC GOLD moves on from the Senate. Trade war CHARGED DEBATE — With talks with Trump back on, Prime Minister MARK CARNEY met with the Big Three automakers in Ottawa on Wednesday — a pitstop in the pursuit of that elusive economic and security partnership with the United States. — In the room: The CEOs of Ford Canada, Stellantis Canada and GM Canada. CBC News reports the confab was requested by the Canadian Vehicle Manufacturers' Association. — On the agenda: 'The need to build up a made-in-Canada supply chain as well as diversify our trading partners,' according to a statement from the PM's office. They covered trade war fallout. 'The leaders also discussed opportunities to make Canada's auto sector more sustainable and competitive in the face of shifting trade relationships, market conditions and supply chains,' the statement said. — Messaging POTUS: FLAVIO VOLPE, president of the Automotive Parts Manufacturers' Association, tells Playbook the auto execs have a simple message they'd like the PM to deliver to POTUS: 'The tariffs you put on, please take them off.' The Canadian auto sector faces 25 percent tariffs on all non-U.S. auto content and 50 percent tariffs on steel and aluminum, the key raw material in vehicle making. Getting a deal on autos will be central to any agreement Trump and Carney are able to land. — Keep on killing: Carney's decision to climb down on the digital services tax is fueling hope in some quarters that he might be inclined to reverse another policy decree he inherited from the government of JUSTIN TRUDEAU: The mandate to end the production of all combustion engine cars in 2035, paving the way for electric vehicle sales. BRIAN KINGSTON, chief executive of the Canadian Vehicle Manufacturers' Association, tells Playbook that poor sales in Canada and the U.S. make the mandate untenable. Kingston told us Wednesday's meeting covered trade policy and the federal zero-emission vehicle sales mandate. 'The CVMA underscored that at a time when the industry is under immense pressure, the damaging and redundant ZEV mandate must be urgently removed,' he wrote us. 'Canada's longest established automakers appreciated the candid discussion with the Prime Minister and look forward to collaborating to protect and grow this critical industry,' Kingston added. — The context: Kingston previously told us that Canadian demand for EVs 'has actually fallen through the floor' — down to 6.5 percent in March, a 45 percent decline compared to the same month last year. 'In the U.S., EV sales have effectively flat-lined at around 10 percent.' Without EV sales, he added: 'You can't move ahead with a project to build a battery plant and a major EV assembly plant.' DAVID ADAMS, president of the Global Automakers of Canada, told CP that he thinks Carney is a 'pretty pragmatic person' and that 'he'd be wanting to work with the industry to remove a barrier or an irritant that was both costly and problematic.' → A tell from the PM?: Carney took to X after Wednesday's gathering to thank Kingston and the CEOs for their input. — Intel: A government source with direct knowledge of Ottawa's negotiating strategy says Canada's EV plan needs to align with U.S. strategy. The official, who was granted anonymity to discuss sensitive information, pointed out that Trump has been canceling EV mandates, notwithstanding a recent court ruling ordering that they be reinstated. 'We do not have a trade problem,' the source explained. 'We have a policy alignment problem from the perspective of the Trump administration.' Trump recently revoked California's EV mandate, which is not unlike Canada's. 'The auto sector is saying, 'If we're going to stay in Canada, you must get rid of this EV mandate,'' the source said. Want more POLITICO? Download our mobile app to save stories, get notifications on U.S.-Canada relations, and more. In iOS or Android . THE ROOMS THAT MATTER — 9:30 a.m. Industry Minister MÉLANIE JOLY will deliver remarks at Saguenay-Le Fjord Chamber of Commerce and Industry. CONVERSATION STARTER GOLD STANDARD — When MARC GOLD became the Liberal government's rep in the Senate in 2020, he kept his parents' advice top of mind. 'All you have is your good name,' they told him from an early age. 'I put that on the line more than once,' Gold said in tears during an exit interview with Playbook. 'It's not an easy job because we have this huge responsibility, but we don't control any votes. So like my predecessor and like my successor, I relied upon the relationships and the trust that I could develop with my colleagues — both in leadership and in the Senate.' On Monday he turned 75 — the mandatory retirement age for senators, days after he helped steamroll Bill C-5 through the upper chamber. — Pack it in: Playbook spoke to Gold as he was packing up his office, previously filled with 40 family pictures, books and a guitar. Gold, who is known to perform at Senate holiday parties, caught MAVIS STAPLES at the Ottawa Jazz Festival during his final week in Ottawa. 'She's an old favorite of mine.' And spent his mornings listening to JERRY LEE LEWIS and JOHN COLTRANE records. 'I'm full of emotions these days, but very much at peace and looking forward to the next chapter,' said Gold. 'This has really been a remarkably nourishing and important experience.' — Apply within: Gold was among the first senators appointed in 2016 under a public application process. He previously taught constitutional law, and even once trained federally appointed judges. 'I certainly had no expectation I would be selected. But when I did get the call from the prime minister, I was honored. And I have to say it's been the best chapter in my professional life.' Gold was selected by a nonpartisan, independent advisory board under a process created by then-Prime Minister JUSTIN TRUDEAU who said he wanted to make the Red Chamber less partisan and more diverse. — Before that: The Senate was dominated by a Liberal-Conservative duopoly for nearly 150 years. — Proudest moment: Gold said changes to the Senate allowed it to better fulfill its constitutional role: reviewing legislation, amplifying underrepresented voices, and respecting the will of the elected House. 'An independent Senate … means more independence from the direct control of the Prime Minister's Office,' Gold said. 'I'd like to see that continue. It's up to the prime minister to decide what adjustments, if any, he chooses to make.' — Crickets: We asked the Prime Minister's Office for an update on Senate reforms. It did not respond. — New chapter: His time as government representative in the Senate was bookended by Covid-19 and the Canada-U.S. trade war. Now, he hopes that it's only his guitar skills that keep him up at night. — Farewell: Gold is back in Quebec's Eastern Townships with his wife Nancy. Despite being in two bands (Steamfitters, Hard Knocks), he wants to form a new blues band, and maybe join a country band. In winter 2026, he'll teach a politics class at McGill University. 'It's sort of my gap year, if I can pretend to be young for a moment,' Gold said. 'I'm not ready to hang up my boots.' MORNING MUST-CLICKS — Our colleagues in D.C. report that House Republicans pulled an all-nighter to advance the megabill and are set to vote on final passage around 6 a.m. — The Globe points out that the role of Canadian ombudsperson for responsible enterprise remains vacant. — The Associated Press reports that a U.S. judge has ruled that China's Huawei Technologies must face criminal charges alleging it stole technology and engaged in racketeering, wire and bank fraud and other crimes. The charges stem from Canada's December 2018 arrest, in execution of a U.S. extradition request, of the daughter of Huawei's founder, which led to nearly three years of tit-for-tat imprisonment of Canadians MICHAEL KOVRIG and MICHAEL SPAVOR in Chinese prisons. — 'The sound of silence of late from Conservative Leader PIERRE POILIEVRE is one of the summer's blessings,' JIM COYLE writes in the Toronto Star. — ÉLIE CANTIN-NANTEL, who worked with ANDREW LAWTON at the True North Centre for Public Policy, interviewed his former colleague for The Hub. PROZONE For POLITICO Pro subscribers, here's our latest policy newsletter: In news for Pro subscribers: — Lethal heat is Europe's new climate reality. — The first American 'scientific refugees' arrive in France. — Trump's energy council to review mineral, energy grants. — Trump uprooted a major climate effort. Scientists are fighting back. — A new tech race is on. Can Europe learn from the ones it lost? PLAYBOOKERS Birthdays: HBD to Power Corporation's PAUL DESMARAIS JR., former MP ADAM VAUGHAN, professor and former journo MATTHEW FRASER, GREG LOERTS of Bluesky Strategy Group, CAMERON PENNER of Blackbird Strategies. HBD+1 to Fisheries Minister JOANNE THOMPSON (65!). Noted: Above the fold in the National Post: 'Mark Carney may have a winking problem.' Spotted: Firefighters from Mexico, arriving to help wildfires in Manitoba … Ontario Premier DOUG FORD and JEAN CHAREST meeting at the Canada–UAE Business Council. Movers and shakers: Independent MLAs PETER GUTHRIE and SCOTT SINCLAIR are reviving Alberta's Progressive Conservative Party … Earnscliffe Strategies is bringing on JACKIE MARSON. Lobby watch: CEFA Systems Inc., a company behind private schools founded by NATACHA BEIM, posted five June meetings with Small Business Secretary of State RECHIE VALDEZ. ALICIA ADAMS registered to lobby on behalf of ConocoPhillips Canada Resources Corp. … GIORGIO EFRAIMIDIS registered for Malahat Battery Technologies Corp. … CATHY LOBLAW registered for Harbourfront Corporation … RICHARD MAHONEY registered for Adobe … Crestview's ANTHONY MATAR registered for Northern Graphite and Winsome Resources. Media mentions: Halifax-based reporter JEN TAPLIN returns to The Chronicle Herald. Got a document to share? A birthday coming up? Send it all our way. TRIVIA Wednesday's answer: Then-Prince of Wales and then-Duchess of Cornwall, now known as KING CHARLES III and QUEEN CAMILLA, attended Canada Day in 2017 to mark the country's 150th birthday. Props to MARCEL MARCOTTE, JOANNA PLATER, ALEX BALLINGALL, CHRIS RANDS, RONALD LEMIEUX, ALYSON FAIR, GREG MACEACHERN, NANCI WAUGH, MARY JANE ALLAN, ROBERT MCDOUGALL, JOHN MATHESON, JENN KEAY and ELIZABETH BURN. Today's question: Who led the royal commission that led to the establishment of the Bank of Canada? For bonus marks: Tell us how this question is related to this date in history. Send your answer to canadaplaybook@ Writing tomorrow's Playbook: MICKEY DJURIC and MIKE BLANCHFIELD. Canada Playbook would not happen without: Canada Editor Sue Allan, editor Willa Plank and POLITICO's Grace Maalouf.
Washington Post
20 minutes ago
- Washington Post
‘Beautiful' coal, ‘ugly' solar. How Trump reframed the energy debate.
President Donald Trump's plans for the future of American energy don't include wind or solar. One argument he has trotted out lately: They're 'ugly as hell.' Trump has said he wants to meet growing U.S. energy demands using nuclear, oil, gas and especially coal. 'I call it clean, beautiful coal,' he told Fox News's Maria Bartiromo this week. 'I don't want windmills destroying our place. I don't want these solar things where they go for miles and they cover up a half a mountain that are ugly as hell.' This aesthetic objection to renewable energy is something of a long-running critique from Trump. In the past he's called wind farms 'unsightly' and 'garbage,' while referring to wind turbines themselves as 'big, ugly suckers' that are 'rusting and rotting.' Trump's Aberdeenshire golf club unsuccessfully sued to block a wind project off the coast of Scotland on the grounds that it would spoil the view. To be sure, it's not just Trump who considers renewables unsightly. Solar and wind farms have an enormous visible footprint, requiring significantly more land than nuclear, natural gas or coal to produce the same amount of energy. They also run the risk of sustaining damage from particularly fierce natural disasters like tornadoes and hurricanes. Plenty of projects in the United States have faced opposition from people concerned they would be an eyesore, hurting property values and tourism. The federal agencies that oversee permitting are obligated to conduct visual impact assessments and consider local stakeholders' feedback. But Trump's particular formulation raises the question: Which energy sources are least offensive to the eye? What surprises some energy experts is not the president's distain for renewables, but his argument that fossil fuels are somehow more beautiful. 'Everyone has their own view of what's beautiful and what's not, but I have a hard time understanding how people could think that solar panels are such a desecration of the land while mountaintop drilling or drilling for natural gas and crude oil is not,' said Severin Borenstein, faculty director of the University of California at Berkeley's Haas School of Business Energy Institute. Some experts who spoke with The Washington Post noted that much of the visual impact of renewables is localized at a single site, whereas fossil fuel production involves multiple sites, with potential for multiple eyesores. 'It's not just the coal-fired power plant that's going to be in my local area with the big smoke stacks,' Stephen Jarvis, an assistant professor of environmental economics at the London School of Economics, said. 'It's all the upstream supply chain, thinking about the railway tracks that are bringing coal to that area, all the way to the huge mine that's probably affecting a large part of the natural landscape as well.' There's also the visual impact of fossil-fuel emissions. 'Conventional fuels have — from an aesthetic point of view — an enormous impact, not only on climate change but visibility impairment everywhere,' Martin Pasqualetti, a geography professor at Arizona State University, has written extensively about the visual impacts of renewable energy landscapes. 'With the pollution that coal-burning power plants, refineries and oil put out, I think there's no comparison.' Experts have found that people who oppose renewables on aesthetic grounds tend not to have lived near fossil-fuel sources. And just because a community is pushing back against renewable projects doesn't mean residents would prefer a nuclear plant, a mine or a coal-fired power station in their neighborhood. 'If you look at research on pretty much any energy technology, it's pretty rare that people are thrilled about having this big piece of industrial infrastructure in their backyard,' Jarvis said. But from a policy perspective, the energy has to be generated somehow. 'Everything we do is going to have a visual impact; most of what we do is going to have a noise impact — although solar farms are probably the least impactful in that area, and some of the things we do are going to have a health impact,' Borenstein said. 'None of this stuff is going to be entirely free from these spillovers, and we have to make a choice.' A burgeoning field within design and architecture is devoted to making renewable energy more aesthetically pleasing. Some projects such as bladeless wind turbines and hummingbird-inspired blades use sleek designs to mitigate concerns about noise and visual distractions. Others, like the Oklahoma Medical Research Foundation's DNA-shaped turbines and El Paso International Airport's illuminated installation, also serve an artistic purpose. Robert Sullivan, a former visual impact assessment consultant for federal agencies, said the geometric design of solar and wind technology makes it more conducive to artistic innovation than fossil-fuel sites. 'From a design sense, they have some things going for them because they're sculptural,' Sullivan said. 'A pretty large number of people actually like looking at wind turbines and solar facilities. You never really ever get people saying they like looking at strip mines or open pit mines or refineries, because if you've seen a refinery, you know it's visually chaotic.' Pasqualetti points to Palm Springs, California, as an example of a 180-degree turnaround in public perceptions about the aesthetics of renewables. The community — once fiercely opposed to wind farms — now opts for new renewable projects over other energy sources. 'In Palm Springs, there were people who were suing the local jurisdictions because the wind turbines were obstructing their view,' Pasqualetti said. 'Nowadays, a generation later, they're promoting wind turbines for tourism, people are getting married in the wind turbine fields, they have wind turbines on the logos of one of the most prestigious tennis tournaments in the country at Indian Wells.' Pasqualetti said a shift in aesthetic perceptions of renewables is well underway in other places as well. 'The fact that you can see them at all is something to be happy about because it means they don't have the same pollution,' Pasqualetti said. 'All you have to do is get used to the fact that they're there. And in fact it's a reminder that what you've chosen is, in all other ways, the most advantageous.'
Chicago Tribune
25 minutes ago
- Chicago Tribune
Chi Chi Wu: Recent credit score drops come from Donald Trump's bad policy
Millions of Americans recently saw their credit scores drop 100 or 150 points, moving them into 'subprime' borrower status and possibly shutting them out of affordable credit, decent rental housing, good insurance rates and even some jobs. What happened to devastate the credit records of 2.4 million Americans, with likely tens of millions more to come? The administration of Donald Trump started reporting student loan delinquencies to the credit bureaus. Previously, President Joe Biden's Department of Education had put negative credit reporting on hold to provide economic breathing room to millions of student loan borrowers in the aftermath of the COVID-19 pandemic, as well as spiking inflation, skyrocketing rents and other economic stress. The Biden administration had signaled that it would resume credit reporting. However, the Trump administration made the situation exponentially worse with disastrous disruptions to student loan repayment options starting in February, its error-ridden administration of the repayment system and lack of communication with borrowers. In fact, the 2.4 million borrowers being reported as behind on their loans closely mirrors the 2 million borrowers with languishing applications to enter more affordable repayment plans, which the department abruptly stopped processing in February. Student loan borrowers aren't the only ones who've seen their financial profiles devastated by the Trump administration. Tens of thousands of federal workers across the country, who have been unjustly fired by the administration and the Department of Government Efficiency, are struggling to pay bills. Farmers are being buffeted by on-again-off-again tariffs, cuts to the United States Agency for International Development and the decimation of other federally funded programs. And the financial pain could spread if we head into a recession triggered by the economic instability caused by the administration. We've seen this play out before, back in 2008 with the Great Recession triggered by the foreclosure crisis. Millions of Americans lost their homes, their jobs and their good credit reputations. Many never recovered from a cataclysmic event such as a foreclosure that left them in a vicious cycle where bad credit scores (among many factors) kept them from accessing the economic necessities needed to rebuild. Contrast this with the COVID-19 pandemic, when large amounts of stimulus and other economic supports kept credit scores high despite staggering job losses and other economic travails. There's a myth in the United States that bad credit scores are due to being a bad person — that folks with checkered credit histories are irresponsible, undisciplined, overspending wastrels. But that's far from the truth. Student loan borrowers, fired federal workers, financially stressed farmers and many others did nothing wrong or nothing different when their credit scores plunged. Instead, what changed were the policies set by those in power, who showed no concern about the impact of their decisions on the credit health of millions. Oftentimes the only sins of folks with poor credit are bad luck and difficult circumstances. People get sick, lose their jobs or just plain run into bad luck. And it primarily harms those folks without family wealth — it's a lot easier to stay on top of the bills despite adversity if you have generational assets to keep you afloat. This is most starkly reflected in the racial gap in credit scores, where Black and Latino consumers have lower credit scores as a group, which is a direct consequence of historical discrimination, current racism and the racial wealth gap. Now, the credit industry would point out that credit scores are designed to predict who will repay a loan, and it's probably not a great idea to lend money to a struggling student loan borrower, an unemployed federal worker or a farmer who can't sell their crops, who have already failed to pay their bills. Fair enough, for now. But that federal worker may find a new job, and the market for those farmers' crops may recover. And those student loan borrowers were encouraged by society to borrow to get an education and better their lives; they were promised programs to help manage their loans that were subsequently blocked, that the Trump administration has failed to provide access to and that bills in Congress are seeking to diminish even further. Barely 1 in 3 student loan borrowers are making regular monthly payments. That's a sign of a systemic and societal problem, not individual irresponsible behavior by 7 million people. Americans should not be shut out from future economic opportunities because of policy changes by the economic wrecking ball of the current administration. And their damaged credit records should not be used to decide whether they should get a job, be able to rent an apartment, and get insurance and utilities. Inequality in the United States and globally is at record highs and contributes to societal unrest. Systems such as credit scoring entrench and exacerbate economic inequality and penalize lack of family and generational wealth instead of rewarding hard work and merit. If we are to have any hope of a fairer, more stable society that provides opportunity to everyone, we need better systems that do not entrench inequality under a veneer of mathematical objectivity.
