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00:02Shopify shares have entered a technical correction, falling about 13% from their year-to-date high
00:08as investors sell software stocks amid ongoing SaaSpocalypse concerns, according to Benzinga.
00:15Shares fell to $154.20, about 13% below their year-to-date high,
00:21as investors turn their attention to the company's upcoming earnings report.
00:25Analysts expect revenue to climb 31.6% to $3.74 billion, with earnings of $0.46 per share.
00:34The results will also provide insight into the impact of AI agents on Shopify's business
00:39following its partnership with Meta's Muse.
00:42Wall Street analysts remain bullish on Shopify, with Citigroup, Oppenheimer, R&BC, and Stifle
00:49raising their price targets to between $200 and $216.
00:54Technical indicators suggest Shopify could be approaching a bullish breakout.
00:58A move above $180 could open the door to further gains toward $200.
01:04For all things money, visit Benzinga.com.
