Shopify Inc. (NASDAQ: SHOP) shares gained more than 6% on Monday after OpenAI announced that U.S. Shopify merchants would be able to sell products directly within ChatGPT conversations.

Oppenheimer reiterated its Outperform rating and $180.00 price target, saying the integration could enhance discoverability and conversion for Shopify's merchant base across ChatGPT's roughly 70 million U.S. monthly active users. Analysts said Shopify could capture incremental gross merchandise volume as “agentic commerce” increases as a share of consumer spending.

OpenAI will charge merchants a small transaction fee for purchases completed through ChatGPT, with checkout facilitated via Stripe. Oppenheimer noted this may limit direct monetization for Shopify, although merchants can still direct sales through their own stores, which would benefit the platform. Analysts also said Shop Pay could eventually be offered as an option, alongside Apple Pay, potentially providing further upside.