Shares of Shopify Inc (NASDAQ:SHOP) nosedived in early trading on Thursday, even after the company reported upbeat fourth-quarter results.

Here are the key analyst insights:

Wedbush analyst Scott Devitt maintained an Outperform rating but cut the price target from $185 to $160.

Goldman Sachs analyst Gabriela Borges reiterated a Buy rating, while slashing the price target from $193 to $168.

Needham analyst Scott Berg reaffirmed a Buy rating and price target of $180.

JPMorgan analyst Reginald Smith maintained an Overweight rating, while slashing the price target from $180 to $146.

Check out other analyst stock ratings.

Wedbush: Shopify reported healthy results, with GMV (gross merchandise value) of $123.8 billion. That’s up 31.1% year-on-year, exceeding the consensus of $121.4 billion. Total revenue came in at $3.7 billion, up 30.6% year-on-year, beating Street expectations by about 2%, Devitt said.

Shopify guided first-quarter revenue growth in the low 30% range, ahead of estimates, the analyst stated. While "the improving capabilities of AI agents have created a perceived risk to eCommerce business models," this perceived risk seems to ...