What was the percentage gain for Shopify stock?

Shopify shares rose 6.7% in the afternoon session.

Which analyst made the upgrades?

Guggenheim analyst John DiFucci upgraded Salesforce and ServiceNow to Buy.

Did other stocks in the sector also rise?

Yes, Salesforce rose 3.2% and ServiceNow climbed 4.1%.

Shopify Stock Surges 6.7% After Rival Upgrades

Shares of e-commerce platform Shopify (NASDAQ:SHOP) jumped 6.7% in the afternoon session after Guggenheim's John DiFucci upgraded both Salesforce (CRM) and ServiceNow (NOW) to Buy, arguing the AI-disruption fear that gutted the software sector during the year had pushed valuations too low.

July 2, 2026

2 min read

Source: StockStory

Key Numbers

price change

6.7%

Shares of e-commerce platform Shopify (NASDAQ:SHOP) surged 6.7% in afternoon trading after Guggenheim analyst John DiFucci upgraded both Salesforce (CRM) and ServiceNow (NOW) to Buy, arguing that AI disruption fears had pushed software valuations to overly depressed levels.

Possible Reasons for the Move

Although the upgrades targeted Salesforce and ServiceNow specifically, investors interpreted the move as a positive signal for the entire software sector, including Shopify. DiFucci believes the market's fear of AI disrupting software companies has been overblown, creating a buying opportunity.

Broader Context

Shopify's stock had declined about 15% over the past month prior to this bounce, weighed down by the same concerns the analyst highlighted. The move comes amid a period of heightened volatility in the tech sector due to the AI race.

Similar Moves in the Sector

The rally was not limited to Shopify; other software stocks also gained following the upgrade. Salesforce rose 3.2%, and ServiceNow climbed 4.1% in the same session.

Frequently Asked Questions

Investors viewed the upgrades as a positive signal for the entire software sector, easing AI disruption fears.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.