NYSE:SHOP

Shopify (SHOP) Stock Forecast, Price & News

$54.57

+1.37 (+2.58%)

(As of 09/29/2023 08:53 PM ET)

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Today's Range: $54.10
▼
$55.59
50-Day Range: $51.50
▼
$67.58
52-Week Range: $23.63
▼
$71.43

Volume: 13.71 million shs
Average Volume: 15.50 million shs
Market Capitalization: $69.98 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $65.37

Shopify MarketRank™ Forecast

Analyst Rating: Hold
2.43 Rating Score
Upside/Downside: 19.8% Upside
$65.37 Price Target
Short Interest: Healthy
2.30% of Float Sold Short
Dividend Strength: N/A
Sustainability: -1.05
Upright™ Environmental Score
News Sentiment: 0.66
Based on 14 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Growing
From ($0.14) to $0.17 Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.99 out of 5 stars

Computer And Technology Sector

428th out of 608 stocks

Prepackaged Software Industry

135th out of 206 stocks

3.2

Analyst's Opinion

Consensus Rating
Shopify has received a consensus rating of Hold. The company's average rating score is 2.43, and is based on 18 buy ratings, 21 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $65.37, Shopify has a forecasted upside of 19.8% from its current price of $54.57.
Amount of Analyst Coverage
Shopify has been the subject of 22 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
2.30% of the float of Shopify has been sold short.
Short Interest Ratio / Days to Cover
Shopify has a short interest ratio ("days to cover") of 2.4, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Shopify has recently increased by 3.77%, indicating that investor sentiment is decreasing.

0.0

Dividend Strength

Dividend Yield
Shopify does not currently pay a dividend.
Dividend Growth
Shopify does not have a long track record of dividend growth.

1.8

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Shopify has received a -11.32% net impact score from Upright. Shopify uses resources or causes negative impacts mostly in categories "Scarce human capital", "GHG emissions", and "Waste". The negative contribution in the "GHG emissions" impact category seems to be driven mostly by its "E-commerce platform software", "E-commerce personalization software", and "Payment platforms" products. See details.
Environmental Sustainability
The Environmental Impact score for Shopify is -1.05.

2.6

News and Social Media Coverage

News Sentiment
Shopify has a news sentiment score of 0.66. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 14 news articles for Shopify this week, compared to 9 articles on an average week.
Search Interest
Only 71 people have searched for SHOP on MarketBeat in the last 30 days. This is a decrease of -54% compared to the previous 30 days.
MarketBeat Follows
65 people have added Shopify to their MarketBeat watchlist in the last 30 days. This is an increase of 44% compared to the previous 30 days.

1.7

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Shopify insiders have not sold or bought any company stock.
Percentage Held by Institutions
60.28% of the stock of Shopify is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Shopify are expected to grow in the coming year, from ($0.14) to $0.17 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Shopify is -34.54, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Shopify is -34.54, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Shopify has a P/B Ratio of 8.45. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Shopify (NYSE:SHOP) Stock

Shopify Inc. is a commerce platform and eCommerce infrastructure provider connecting small businesses with a large and growing global marketplace. The company was formed in 2004 in Ottawa, Canada as Jaded Pixel Technologies but changed its name to Shopify Inc in 2011. The name change was part of a rebranding strategy that helped accelerate the business and drive it to $5.5 billion in sales in 2022.

As of October 2022, the company boasted “millions” of merchants in 175 countries with more than $543 billion in economic activity generated since launch. In terms of scale, Shopify employs more than 10,000 individuals and is among the top 20 publicly traded companies in Canada.

Shopify was founded by Tobi Lütke. Mr. Lütke had been working on a website for a snowboard store but quickly realized the software was more valuable than just selling snowboards so his team switched gears. The platform was launched in 2006 and it quickly gained momentum. Mr. Lütke is a member of the board of directors and the company’s CEO, a position he has held since 2008.

Shopify is a commerce company but, more importantly, it is an eCommerce commerce company that can assist small businesses with all aspects of their operations. The company is in business to provide an eCommerce platform for small businesses globally. Its platform enables merchants to market, manage, and sell their products through a variety of sales channels that include but are not limited to eCommerce. Channels include the company’s core Shopify.com website as well as brick & mortar locations, pop-ups, social media, and buy-now buttons.

Because branding is such an important part of a business's success the company goes to great lengths to assist its merchants in that regard. The Shopify.com website includes several tools to help with branding that include a business name generator and a logo maker as well as a website builder and a full range of marketing products. Marketing products help merchants with email marketing and Facebook ads as well as automation of the same.

Among the many benefits of using Shopify is acceleration. Businesses that use the website to its fullest are able to accelerate their growth and reach milestones years ahead of their competitors. Brands that use Shopify.com include Heinz, Tupperware, and Netflix. According to data from BuiltWith, the Shopify platform was host to more than 1.58 million websites in 2021 and the figure is growing. Data from W3Techs suggest that more than 4.0% of the top 10 million websites are using Shopify.

SHOP Price History

30 days | 90 days | 365 days | Advanced Chart

SHOP Stock News Headlines

September 6, 2023 | marketbeat.com

It's too Soon to Ring the Register on Shopify's Growth Story

Shopify is moving higher after Amazon said it would launch a Buy with Prime app on Shopify's app ecosystem; a first for Shopify merchants.

September 5, 2023 | marketbeat.com

5 Ways to Play Retail that will Profit in 2023 (SHOP)

The retail environment is shifting, but not all is lost. The group has clear winners that can provide healthy returns for investors.

October 2, 2023 | Chaikin Analytics (Ad)

This is the #1 Stock to Buy for the AI Tidal Wave

Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.

September 28, 2023 | businessinsider.com

In a leaked memo, Shopify CEO Tobi Lütke discourages employees from having side hustles, saying Shopify requires 'unshared attention'

September 28, 2023 | forbes.com

Ecwid Vs. Shopify (2023 Comparison)

September 28, 2023 | markets.businessinsider.com

Shopify (SHOP) Receives a Hold from Scotiabank

September 27, 2023 | businesswire.com

New Partnership Establishes Faire as Shopify’s Recommended Wholesale Marketplace

September 27, 2023 | msn.com

Shopify deepens its partnership, takes a stake in wholesale marketplace Faire

October 2, 2023 | Chaikin Analytics (Ad)

Buy This Stock for AI Tidal Wave (not NVDA)

The internet boom made more millionaires than any tech - Microsoft’s CEO says AI has even more potential. Here’s the #1 stock to buy.

September 27, 2023 | msn.com

Unlocking B2B Opportunities: Shopify Enters Faire's Shareholder Circle And Boosts Wholesale Innovations

September 27, 2023 | americanbankingnews.com

Shopify (NYSE:SHOP) Receives Market Outperform Rating from JMP Securities

September 26, 2023 | finance.yahoo.com

Broken Wing Butterfly Makes Money While Shopify Stock Consolidates

September 24, 2023 | msn.com

Dota 2: Spirit sweep Shopify Rebellion 3-0 to win DreamLeague Season 21

September 23, 2023 | americanbankingnews.com

Shopify (NYSE:SHOP) PT Raised to $73.00 at DA Davidson

September 22, 2023 | msn.com

League of Legends: TSM sell LCS spot to Shopify Rebellion for US$10 million

September 21, 2023 | investorplace.com

The Moves That Have Shopify Investors Buzzing About SHOP Stock

September 19, 2023 | msn.com

Dota 2 DreamLeague Season 21: Team Spirit, Shopify Rebellion take lead while EG eliminated

September 19, 2023 | finance.yahoo.com

Shopify (SHOP): A Smart Investment or a Value Trap? An In-Depth Exploration

September 18, 2023 | finance.yahoo.com

3 Stock-Split Stocks Billionaire Investors Can't Stop Buying

September 17, 2023 | finance.yahoo.com

Up 80% This Year, Are Investors Overrating Shopify Stock?

September 16, 2023 | finance.yahoo.com

Up 80%, Is it Too Late to Buy Shopify?

September 14, 2023 | financialpost.com

Shopify's retreat in delivery pushes Amazon to 'go big' to fill void

September 14, 2023 | stocknews.com

Shopify Inc. Cl a (SHOP) vs. Wix.com Ltd. (WIX): Which Internet Stock Has a Better Chance of Growth?

September 13, 2023 | forbes.com

Shopify Review 2023: Features, Pros And Cons

September 11, 2023 | financialpost.com

Shopify-backed Klaviyo attracts BlackRock as investor in rare 2023 IPO

September 11, 2023 | 247wallst.com

Monday's Top Analyst Upgrades and Downgrades: Adobe, Apple, CSX, First Solar, Gilead Sciences, Lucid, Shopify, Snowflake and More

September 11, 2023 | benzinga.com

Image Relay Launches Shopify Integration to Further Streamline Brands' Product and Digital Asset Workflows

See More Headlines

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SHOP Company Calendar

Last Earnings: 8/02/2023
Today: 10/02/2023
Next Earnings (Estimated): 10/26/2023
Fiscal Year End: 12/31/2023

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Industry, Sector and Symbol

Stock Exchange: NYSE
Industry: Prepackaged software
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NYSE:SHOP
CUSIP: N/A
CIK: 1594805
Web: www.shopify.ca
Phone: (613) 241-2828
Fax: N/A
Employees: 11,600
Year Founded: 2004

Price Target and Rating

Average Stock Price Forecast: $65.37
High Stock Price Forecast: $80.00
Low Stock Price Forecast: $41.00
Forecasted Upside/Downside: +19.8%
Consensus Rating: Hold
Rating Score (0-4): 2.43
Research Coverage: 40 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.58)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-3,460,420,000.00
Net Margins: -32.13%
Pretax Margin: -31.68%
Return on Equity: -5.36%
Return on Assets: -4.13%

Debt

Debt-to-Equity Ratio: 0.15
Current Ratio: 6.71
Quick Ratio: 6.71

Sales & Book Value

Annual Sales: $5.60 billion
Price / Sales: 12.50
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $6.46 per share
Price / Book: 8.45

Miscellaneous

Outstanding Shares: 1,282,470,000
Free Float: N/A
Market Cap: $69.98 billion
Optionable: Optionable
Beta: 2.05

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Key Executives

Mr. Tobias Lütke (Age 42)
Founder, Chairman & CEO
Comp: $1

Mr. Harley Finkelstein (Age 40)
Pres
Comp: $664.47k

Mr. Jeff J. Hoffmeister CPA
Chief Financial Officer

Mr. Kasra Nejatian
VP of Product & COO

Ms. Jessica R. Hertz
Gen. Counsel & Corp. Sec.

Carrie Gillard
Director of Investor Relations

Ms. Brittany Forsyth (Age 36)
Chief Talent Officer

Ms. Bharati Balakrishnan
Country Head & Director- India

Mr. Loren Padelford (Age 45)
GM & VP of Shopify Plus

Mr. Arpan Podduturi
Director of Product

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

SHOP Stock - Frequently Asked Questions

Should I buy or sell Shopify stock right now?: 40 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last year. There are currently 1 sell rating, 21 hold ratings and 18 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" SHOP shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SHOP, but not buy additional shares or sell existing shares.
View SHOP analyst ratings or view top-rated stocks.
What is Shopify's stock price forecast for 2023?: 40 brokerages have issued 1-year price targets for Shopify's shares. Their SHOP share price forecasts range from $41.00 to $80.00. On average, they predict the company's share price to reach $65.37 in the next twelve months. This suggests a possible upside of 19.8% from the stock's current price.
View analysts price targets for SHOP or view top-rated stocks among Wall Street analysts.
How have SHOP shares performed in 2023?: Shopify's stock was trading at $34.71 at the beginning of 2023. Since then, SHOP stock has increased by 57.2% and is now trading at $54.57.
View the best growth stocks for 2023 here.
When is Shopify's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, October 26th 2023.
View our SHOP earnings forecast.
How were Shopify's earnings last quarter?: Shopify Inc. (NYSE:SHOP) issued its quarterly earnings results on Wednesday, August, 2nd. The software maker reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by $0.02. The software maker earned $1.69 billion during the quarter, compared to analyst estimates of $1.63 billion. Shopify had a negative net margin of 32.13% and a negative trailing twelve-month return on equity of 5.36%.
What ETFs hold Shopify's stock?: ETFs with the largest weight of Shopify (NYSE:SHOP) stock in their portfolio include ARK Fintech Innovation ETF (ARKF), First Trust Dow Jones International Internet ETF (FDNI), Franklin Disruptive Commerce ETF (BUYZ), Spear Alpha ETF (SPRX), Sterling Capital Focus Equity ETF (LCG), ARK Next Generation Internation ETF (ARKW), Franklin FTSE Canada ETF (FLCA) and ARK Innovation ETF (ARKK).
When did Shopify's stock split?: Shopify's stock split before market open on Wednesday, June 29th 2022. The 10-1 split was announced on Monday, April 11th 2022. The newly issued shares were payable to shareholders after the closing bell on Tuesday, June 28th 2022. An investor that had 100 shares of stock prior to the split would have 1,000 shares after the split.
What is Tobias Lütke's approval rating as Shopify's CEO?: 468 employees have rated Shopify Chief Executive Officer Tobias Lütke on Glassdoor.com. Tobias Lütke has an approval rating of 93% among the company's employees. This puts Tobias Lütke in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

What other stocks do shareholders of Shopify own?: Based on aggregate information from My MarketBeat watchlists, some companies that other Shopify investors own include NVIDIA (NVDA), Tesla (TSLA), Alibaba Group (BABA), Netflix (NFLX), Block (SQ), Trade Desk (TTD), PayPal (PYPL), Salesforce (CRM), Walt Disney (DIS) and Advanced Micro Devices (AMD).
When did Shopify IPO?: (SHOP) raised $100 million in an IPO on Thursday, May 21st 2015. The company issued 7,700,000 shares at a price of $12.00-$14.00 per share. Morgan Stanley, Credit Suisse and RBC Capital Markets served as the underwriters for the IPO and Pacific Crest Securities, Raymond James and Canaccord Genuity were co-managers.
What is Shopify's stock symbol?: Shopify trades on the New York Stock Exchange (NYSE) under the ticker symbol "SHOP."
How do I buy shares of Shopify?: Shares of SHOP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is Shopify's stock price today?: One share of SHOP stock can currently be purchased for approximately $54.57.
How much money does Shopify make?: Shopify (NYSE:SHOP) has a market capitalization of $69.98 billion and generates $5.60 billion in revenue each year. The software maker earns $-3,460,420,000.00 in net income (profit) each year or ($1.58) on an earnings per share basis.
How many employees does Shopify have?: The company employs 11,600 workers across the globe.
Does Shopify have any subsidiaries?: The following companies are subsidiares of Shopify: 6 River Systems, 6 River Systems LLC, Boltmade, Handshake, Helpful, Jet Cooper, Kit, Oberlo, Return Magic, Select Start Studios, Shopify Capital Inc., Shopify Commerce Singapore Pte. Ltd., Shopify Holdings (USA) Inc., Shopify International Limited, Shopify LLC, Shopify Payments (Canada) Inc., Shopify Payments (USA) Inc., Tictail, and Tiny Hearts.
Read More
How can I contact Shopify?: Shopify's mailing address is 150 Elgin Street 8th Floor, Ottawa A6, K2P 1L4. The official website for the company is www.shopify.ca. The software maker can be reached via phone at (613) 241-2828 or via email at ir@shopify.com.

This page (NYSE:SHOP) was last updated on 10/2/2023 by MarketBeat.com Staff

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