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Shopify (SHOP) Stock Price, News & Analysis

$75.33
-3.29 (-4.18%)
(As of 02:03 PM ET)
Today's Range
$74.91
$78.06
50-Day Range
$71.82
$90.73
52-Week Range
$39.02
$91.57
Volume
6.87 million shs
Average Volume
11.72 million shs
Market Capitalization
$96.78 billion
P/E Ratio
837.09
Dividend Yield
N/A
Price Target
$76.16

Shopify MarketRank™ Stock Analysis

Analyst Rating
Hold
2.32 Rating Score
Upside/​Downside
0.1% Upside
$76.16 Price Target
Short Interest
Healthy
2.49% of Float Sold Short
Dividend Strength
N/A
Sustainability
-1.05
Upright™ Environmental Score
News Sentiment
0.60mentions of Shopify in the last 14 days
Based on 37 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
39.13%
From $0.69 to $0.96 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

3.76 out of 5 stars

Computer And Technology Sector

191st out of 580 stocks

Prepackaged Software Industry

58th out of 196 stocks


SHOP stock logo

About Shopify Stock (NYSE:SHOP)

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 Stock Price History

SHOP Stock News Headlines

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Explore Shopify's stellar Q4: $2.14B revenue, 23.7% YoY growth, robust GMV increase, and impressive margin improvements. Insights into 2024 projections included
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Shopify Is Expensive For Many Great Reasons
Shopify Is Succeeding With Their Merchants
Shopify Full Year 2023 Earnings: Beats Expectations
Shopify (NYSE:SHOP) PT Raised to $90.00 at DA Davidson
UBS Group Increases Shopify (NYSE:SHOP) Price Target to $80.00
ATB Capital Increases Shopify (NYSE:SHOP) Price Target to $110.00
Piper Sandler Increases Shopify (NYSE:SHOP) Price Target to $63.00
Shopify (NYSE:SHOP) Price Target Cut to $68.00
Shopify (NYSE:SHOP) Earns Neutral Rating from Wedbush
Truist Financial Sticks to Its Hold Rating for Shopify (SHOP)
Shopify (NYSE:SHOP) Given New $93.00 Price Target at Citigroup
Mizuho Boosts Shopify (NYSE:SHOP) Price Target to $75.00
Shopify Inc. (NYSE:SHOP) Q4 2023 Earnings Call Transcript
See More Headlines
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Company Calendar

Last Earnings
10/28/2021
Today
2/21/2024
Next Earnings (Estimated)
5/02/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
N/A
Fax
N/A
Employees
11,600
Year Founded
2004

Price Target and Rating

Average Stock Price Target
$76.16
High Stock Price Target
$110.00
Low Stock Price Target
$50.00
Potential Upside/Downside
-1.6%
Consensus Rating
Hold
Rating Score (0-4)
2.32
Research Coverage
38 Analysts

Profitability

Net Income
$132 million
Pretax Margin
2.62%

Debt

Sales & Book Value

Annual Sales
$7.06 billion
Cash Flow
$0.29 per share
Book Value
$7.06 per share

Miscellaneous

Outstanding Shares
1,284,790,000
Free Float
N/A
Market Cap
$99.42 billion
Optionable
Optionable
Beta
2.27

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Key Executives

  • Mr. Tobias Lütke (Age 43)
    Founder, Chairman & CEO
    Comp: $1
  • Mr. Harley Finkelstein (Age 41)
    President
    Comp: $664.47k
  • Mr. Jeff J. Hoffmeister CPA
    Chief Financial Officer
  • Mr. Kasra Nejatian
    VP of Product & COO
  • Ms. Jessica R. Hertz
    General Counsel & Corporate Secretary
  • Carrie Gillard
    Director of Investor Relations
  • Ms. Bharati Balakrishnan
    Country Head & Director- India
  • Mr. Loren Padelford (Age 46)
    GM & VP of Shopify Plus
  • Mr. Arpan Podduturi
    Director of Product
  • Mr. Thomas Epting
    Director of Product for Shopify Fulfillment Network

Should I Buy Shopify Stock? SHOP Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Shopify was last updated on Tuesday, February 13, 2024 at 9:14 AM.

Pros

Here are some ways that investors could benefit from investing in Shopify Inc.:

  • Strong global presence: Shopify Inc. provides its commerce platform and services in multiple countries across various continents, including Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. This global reach offers investors the opportunity to tap into diverse markets and potentially benefit from international growth.
  • Diverse sales channels: The company's platform enables merchants to sell their products through various sales channels, such as web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces. This diverse range of sales channels allows for increased customer reach and potential revenue streams.
  • Comprehensive product and inventory management: Shopify's platform enables merchants to efficiently manage their products and inventory, process orders and payments, fulfill and ship orders, and build customer relationships. This comprehensive suite of tools can help merchants streamline their operations and drive sales, which could benefit investors through increased merchant adoption and revenue growth.
  • Access to financing and working capital: Shopify offers merchant solutions that include access to financing and working capital. This can be attractive to merchants who may require additional funds to scale their businesses, and investors can benefit from increased merchant activity and potential interest income.
  • Strong track record and industry recognition: Shopify Inc. has been in operation since 2004 and has established itself as a leading commerce company. The company's platform and services have received industry recognition, which can instill confidence in investors regarding the company's capabilities and potential for future growth.

Cons

Investors should be bearish about investing in Shopify Inc. for these reasons:

  • Market competition: The e-commerce industry is highly competitive, with numerous players vying for market share. Shopify faces competition from other commerce platforms and services providers, as well as large tech companies that offer similar solutions. This competitive landscape could impact Shopify's market position and potentially limit its growth prospects.
  • Dependence on merchant adoption: Shopify's success is closely tied to the adoption and usage of its platform by merchants. If the company fails to attract and retain merchants, it could impact its revenue growth and overall financial performance. Investors should closely monitor merchant adoption rates and customer satisfaction levels.
  • Regulatory and legal challenges: As a global company operating in multiple jurisdictions, Shopify Inc. may face regulatory and legal challenges. Changes in regulations or legal disputes could impact the company's operations and financial results. Investors should stay informed about any regulatory developments that could affect Shopify's business.
  • Market volatility: The stock market can be volatile, and the price of Shopify's stock may fluctuate significantly. Investors should be prepared for potential price volatility and consider their risk tolerance before investing in the company. It is important to conduct thorough research and analysis before making investment decisions.
  • Currency exchange rate risks: Shopify operates in multiple countries, which exposes the company to currency exchange rate risks. Fluctuations in exchange rates could impact the company's financial results, especially when it comes to revenue generated in foreign currencies. Investors should be aware of these risks and consider their potential impact on Shopify's performance.














SHOP Stock Analysis - Frequently Asked Questions

Should I buy or sell Shopify stock right now?

38 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last year. There are currently 3 sell ratings, 20 hold ratings and 15 buy ratings for the stock. The consensus among Wall Street equities research 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 target for 2024?

38 brokers have issued 12-month price targets for Shopify's stock. Their SHOP share price targets range from $50.00 to $110.00. On average, they predict the company's stock price to reach $76.16 in the next twelve months. This suggests a possible upside of 0.1% 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 2024?

Shopify's stock was trading at $77.90 at the beginning of 2024. Since then, SHOP shares have decreased by 2.3% and is now trading at $76.09.
View the best growth stocks for 2024 here
.

When is Shopify's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 2nd 2024.
View our SHOP earnings forecast
.

How were Shopify's earnings last quarter?

Shopify Inc. (NYSE:SHOP) issued its quarterly earnings results on Thursday, October, 28th. The software maker reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The software maker earned $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Shopify had a net margin of 1.87% and a trailing twelve-month return on equity of 4.48%. The business's revenue was up 46.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.05 EPS.

When did Shopify's stock split?

Shares of Shopify split on the morning of Wednesday, June 29th 2022. The 10-1 split was announced on Monday, April 11th 2022. The newly created shares were distributed 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 initial public offering 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.

Who are Shopify's major shareholders?

Shopify's stock is owned by many different institutional and retail investors. Top institutional investors include Baillie Gifford & Co. (4.99%), Vanguard Group Inc. (3.28%), Capital World Investors (3.07%), Capital Research Global Investors (2.98%), Price T Rowe Associates Inc. MD (2.20%) and Capital International Investors (1.23%).

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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

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
This page (NYSE:SHOP) was last updated on 2/21/2024 by MarketBeat.com Staff