Truist Securities upgraded Shopify to Buy from Hold and raised its price target to $150 from $110, arguing that a broad software selloff tied to AI concerns has created an attractive entry point. Analyst Terry Tillman believes the recent valuation decline presents a buying opportunity for long-term investors in one of the few software companies showing strong accelerating growth.

Tillman addresses concerns about AI-driven disruption and "vibe coding," arguing these risks are overstated. He highlights Shopify's platform scalability, security, and speed, noting its ability to handle peak holiday volumes such as $5.1 million in sales per minute on Black Friday. The analyst maintains Shopify won't be impacted by prompt engineering or no-code AI startups.

Shopify's payments division continues to expand with gross payment volume reaching $84 billion in Q4. Shop Pay now processes more than 50% of U.S. total payment volume, while Shopify Payments spans over 20 countries. Truist raised its 2027 estimates, increasing merchant solutions revenue growth to 23% year over year, based on the company's strong business momentum.