• On 17 June 2026, Shopify launched Sidekick App Extensions, allowing third-party apps like Avia’s in-store intelligence platform to plug directly into its AI assistant so merchants can access foot-traffic analytics, shopper demographics, and predictive forecasts within their existing Shopify workflows.
• This move effectively pulls rich, in-store operational data into Shopify’s AI layer, tightening the link between physical retail performance and digital decision-making for merchants.
• We’ll now explore how integrating in-store intelligence into Sidekick may reinforce or challenge Shopify’s existing investment narrative around AI-driven commerce enablement.

AI is about to change healthcare. These 40 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early.

Shopify Investment Narrative Recap

To own Shopify, you need to believe it can remain a core operating system for commerce while justifying a premium valuation despite mixed recent share performance and modest net margin compression. The key near term catalyst is wider adoption of its AI tools such as Sidekick, which now reach deeper into both online and in-store data. The biggest current risk remains intensifying platform competition that could pressure take rates and merchant economics; this week’s news does not materially change that risk.

Among recent announcements, TOMS’ decision to run its modernized store and order orchestration on Shopify is most relevant. It illustrates how larger brands are standardizing not just their storefronts but also complex post checkout workflows on the platform, reinforcing the upmarket and omnichannel catalyst that Sidekick App Extensions aim to support. Together, these updates speak to Shopify’s attempt to embed itself more tightly into merchants’ day to day operations.

Yet for investors, the bigger concern to watch is how rising competition and a rich earnings multiple could intersect if...

Shopify’s narrative projects $24.1 billion revenue and $3.7 billion earnings by 2029. This requires 24.9% yearly revenue growth and a roughly $2.4 billion earnings increase from $1.3 billion today.

Uncover how Shopify's forecasts yield a $148.22 fair value, a 36% upside to its current price.

Exploring Other Perspectives

Sidekick’s new app extensions highlight the bullish AI catalyst, but the lowest analysts still model only about US$21.9 billion revenue and US$2.9 billion earnings by 2029, showing how sharply views can differ and why you should weigh several scenarios before deciding what you believe.

Explore 17 other fair value estimates on Shopify - why the stock might be worth just $118.00!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your Shopify research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Shopify research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Shopify's overall financial health at a glance.

No Opportunity In Shopify?

Don't miss your shot at the next 10-bagger. Our latest stock picks just dropped:

• Find 45 companies with promising cash flow potential yet trading below their fair value.
• Capitalize on the AI infrastructure supercycle with our selection of the 49 best 'picks and shovels' of the AI gold rush converting record-breaking demand into massive cash flow.
• Explore 31 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.