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Shopify (SHOP) Stock Forecast & Price Target

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$58.91
+0.38 (+0.65%)
(As of 04:10 PM ET)
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Shopify - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy
Based on 36 Analyst Ratings

Consensus Price Target

$76.86
30.47% Upside
High Forecast$110.00
Average Forecast$76.86
Low Forecast$50.00
TypeCurrent Forecast
5/21/23 to 5/20/24		1 Month Ago
4/21/23 to 4/20/24		3 Months Ago
2/20/23 to 2/20/24		1 Year Ago
5/21/22 to 5/21/23
Consensus Rating
Moderate Buy
Hold
Hold
Hold
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
19 Buy rating(s)
15 Buy rating(s)
15 Buy rating(s)
13 Buy rating(s)
Hold
16 Hold rating(s)
18 Hold rating(s)
20 Hold rating(s)
22 Hold rating(s)
Sell
1 Sell rating(s)
3 Sell rating(s)
3 Sell rating(s)
1 Sell rating(s)
Consensus Price Target$76.86$78.30$76.16$55.33
Forecasted Upside30.47% Upside8.90% Upside9.28% Upside10.23% Upside

SHOP Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
Skip Chart & View Analyst Rating History

SHOP Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
Skip Chart and View Analyst Price Target HistorySkip Chart & View Price History Table

Shopify Stock vs. The Competition

TypeShopifyComputer and Technology CompaniesS&P 500
Consensus Rating Score
2.50
2.59
2.49
Consensus RatingModerate BuyModerate BuyHold
Predicted Upside30.60% Upside184.21% Upside7.81% Upside
News Sentiment RatingNeutral News
Neutral News
Positive News

Recent Analyst Forecasts and Stock Ratings

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DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
5/9/2024Scotiabank
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetSector Perform ➝ Sector Perform$80.00 ➝ $75.00+20.02%
5/9/2024Citigroup
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetBuy ➝ Buy$105.00 ➝ $95.00+52.15%
5/9/2024Canaccord Genuity Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetBuy ➝ Buy$90.00 ➝ $80.00+28.12%
5/9/2024CIBC
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetOutperformer ➝ Outperformer$100.00 ➝ $85.00+36.13%
5/9/2024DA Davidson
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetBuy ➝ Buy$90.00 ➝ $84.00+34.53%
5/9/2024TD Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetHold ➝ Hold$80.00 ➝ $72.00+15.16%
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5/9/2024Royal Bank of Canada
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetOutperform ➝ Outperform$100.00 ➝ $85.00+35.52%
5/9/2024Barclays
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetEqual Weight ➝ Equal Weight$68.00 ➝ $63.00+1.09%
5/9/2024Deutsche Bank Aktiengesellschaft
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetBuy ➝ Buy$95.00 ➝ $80.00+28.37%
5/9/2024Wells Fargo & Company
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetOverweight ➝ Overweight$85.00 ➝ $75.00+20.35%
5/9/2024The Goldman Sachs Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetNeutral ➝ Neutral$75.00 ➝ $67.00+6.67%
5/9/2024Needham & Company LLC
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingHold
5/9/2024Robert W. Baird
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetOutperform ➝ Outperform$87.00 ➝ $77.00+22.59%
5/9/2024Mizuho
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetNeutral ➝ Neutral$75.00 ➝ $65.00+3.49%
5/9/2024Piper Sandler
Subscribe to MarketBeat All Access for the recommendation accuracy rating		C. Jeffries
Subscribe to MarketBeat All Access for the recommendation accuracy rating		UpgradeUnderweight ➝ Neutral$63.00 ➝ $63.00+0.30%
5/9/2024JMP Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating		A. Boone
Subscribe to MarketBeat All Access for the recommendation accuracy rating		UpgradeMarket Perform ➝ Outperform$80.00+27.37%
5/8/2024Atb Cap Markets
Subscribe to MarketBeat All Access for the recommendation accuracy rating		M. Toner
Subscribe to MarketBeat All Access for the recommendation accuracy rating		UpgradeSector Perform ➝ Outperform
5/7/2024Benchmark
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingHold
5/2/2024BNP Paribas
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 UpgradeUnderperform ➝ Outperform
4/19/2024Morgan Stanley
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 UpgradeEqual Weight ➝ Overweight$74.00 ➝ $85.00+22.28%
4/15/2024Loop Capital
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetHold ➝ Hold$90.00 ➝ $80.00+15.41%
2/14/2024UBS Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetNeutral ➝ Neutral$75.00 ➝ $80.00+0.21%
2/14/2024ATB Capital
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetSector Perform$105.00 ➝ $110.00+37.36%
2/14/2024Roth Capital
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy$85.00 ➝ $89.00+11.14%
2/13/2024Wedbush
Subscribe to MarketBeat All Access for the recommendation accuracy rating		S. Devitt
Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated RatingNeutral$68.00-13.62%
2/12/2024Truist Financial
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetHold$65.00 ➝ $90.00+0.18%
1/26/2024National Bankshares
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform$80.00 ➝ $100.00+22.13%
1/5/2024Jefferies Financial Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetHold$65.00 ➝ $80.00+6.91%
12/12/2023DZ Bank
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingHold ➝ Sell$65.00-10.76%
12/6/2023Stifel Nicolaus
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost Target$65.00 ➝ $75.00+3.91%
11/3/2023Evercore
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetIn-Line$74.00 ➝ $80.00+31.84%
10/25/2023Veritas Investment Research
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Set TargetBuy$52.00+6.80%
8/29/2023Roth Mkm
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingBuy ➝ Buy$76.00 ➝ $73.00+29.94%
8/3/2023Bank of America
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform$65.00 ➝ $70.00+19.07%
7/24/2023Moffett Nathanson
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 UpgradeMarket Perform ➝ Outperform$76.00+15.91%
7/14/2023Credit Suisse Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetNeutral$53.00 ➝ $55.00-21.83%
6/20/2023Oppenheimer
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost Target$70.00 ➝ $80.00+23.63%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Monday at 04:32 PM ET.

SHOP Frequently Asked Questions

What is Shopify's stock forecast and purchase recommendation?

According to the research reports of 36 Wall Street equities research analysts, the average twelve-month stock price forecast for Shopify is $76.86, with a high forecast of $110.00 and a low forecast of $50.00. The consensus rating for Shopify stock is Hold based on the current 1 sell rating, 16 hold ratings and 19 buy ratings for SHOP. Learn more on SHOP's analyst rating history.

Do Wall Street analysts like Shopify more than its competitors?

Analysts like Shopify less than other "computer and technology" companies. The consensus rating score for Shopify is 2.50 while the average consensus rating score for "computer and technology" companies is 2.59. Learn more on how SHOP compares to other companies.

Is Shopify being upgraded by Wall Street analysts?

Over the previous 90 days, Shopify's stock had 6 upgrades by analysts.

Does Shopify's stock price have much upside?

According to analysts, Shopify's stock has a predicted upside of 14.38% based on their 12-month stock forecasts.

What analysts cover Shopify?

Shopify has been rated by research analysts at Atb Cap Markets, Barclays, Benchmark, BNP Paribas, Canaccord Genuity Group, CIBC, Citigroup, DA Davidson, Deutsche Bank Aktiengesellschaft, JMP Securities, Loop Capital, Mizuho, Morgan Stanley, Needham & Company LLC, Piper Sandler, Robert W. Baird, Royal Bank of Canada, Scotiabank, TD Securities, The Goldman Sachs Group, and Wells Fargo & Company in the past 90 days.


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This page (NYSE:SHOP) was last updated on 5/20/2024 by MarketBeat.com Staff

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