Analysts split on Shopify stock after sell-off pushes shares below 200-day moving average

Bernstein reiterates bullish case amid the sell-off

Bernstein publicly backed Shopify on the same trading session that the shares slid under their 200-day moving average. The note, summarized by Insider Monkey, framed the move as a potential buying opportunity and placed the stock within a wider Wall Street reassessment of beaten-down software names. Insider Monkey linked the discussion to earlier commentary in which analysts projected "high-twenties" revenue growth for Shopify's second quarter, a figure that had helped drive an 11.5% jump in the stock at the time.

Technical damage and the 200-day breach

Investor's Business Daily reported that Shopify was "under heavy selling pressure" during the week and broke below its key 200-day moving average. Even with an intraday rebound attempt on Friday morning, the analysis said the stock still needed to do "quite a bit of work" to repair its trend, a setup it described as either a precursor to further declines or, at minimum, a period without meaningful upside progress.

Bear call spread framed around the 145 strike

Citing that bearish backdrop, the Investor's Business Daily options note proposed a bear call spread that assumes Shopify will fail to reclaim the $145 level in the coming weeks. The trade was positioned as a way for investors to convert the slide into a defined-risk income position while the broader market was also pressured by rising oil prices near $100 and surging Treasury yields.

A separate FedEx–Shopify integration

Separately, Supply Chain Dive reported that FedEx launched a Shopify app aimed at helping merchants manage surprise import charges, a product development distinct from the stock-price debate and unrelated to the sell-off.

For the next verifiable milestone, traders and analysts will watch whether Shopify can reclaim and hold its 200-day moving average, with the $145 level flagged in the options note as the near-term technical hurdle to clear.