12:39 PM EDT, 07/28/2025 (MT Newswires) -- Shopify ( SHOP ) has made "meaningful" share gains in enterprise ecommerce since the launch of Commerce Components by Shopify ( SHOP ) in 2023, UBS Securities said in a note Monday.

The brokerage said enterprise customers could add about 4% to 5% to Shopify's ( SHOP ) annual gross merchandise volume growth above the broader retail ecommerce market over the next decade. It framed enterprise as one of three pillars, along with international and point-of-sale, driving the company's long-term expansion strategy.

The offering provides additional flexibility that allows the company to replace customized ecommerce platforms developed by large merchants in-house, the firm said.

Aside from the added flexibility, UBS said Shopify's ( SHOP ) success in enterprise has been due to the expansion of its partner network and on-ramps into Shopify ( SHOP ), investment behind its go-to-market approach and total cost of ownership considerations.

The firm also took note of the company's unified commerce offering that allows the integration of an enterprise's front and back-end systems into one platform, compared with more siloed alternatives.

UBS has a neutral rating on the company's stock with a $110 price target.

The company's shares were up over 2% in recent trading.

Price: 127.40, Change: +2.97, Percent Change: +2.39