On September 23, Mizuho reiterated an Outperform rating and $180 price target on Shopify Inc. (NASDAQ:SHOP), viewing a recent stock pullback as a compelling buying opportunity. The weakness occurred after reports surfaced that Meta Platforms is planning a Meta Pay wallet for its new Muse AI assistant, causing investors to fear potential disintermediation. However, Mizuho highlighted that this market reaction mirrors the overdone concerns seen during Stripe Link's introduction two weeks prior. The firm clarified that consumer-facing payment wallets, whether Meta Pay, Stripe Link, or Shop Pay, simply serve as front-end user interfaces.
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