NYSE:SHOP

Shopify (SHOP) Stock Forecast, Price & News

$57.18

-1.01 (-1.74%)

(As of 05/31/2023 ET)

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Today's Range: $56.74
▼
$59.11
50-Day Range: $44.31
▼
$64.38
52-Week Range: $23.63
▼
$65.54

Volume: 13.14 million shs
Average Volume: 18.43 million shs
Market Capitalization: $73.00 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $54.85

Shopify MarketRank™ Forecast

Analyst Rating: Hold
2.30 Rating Score
Upside/Downside: 4.1% Downside
$54.85 Price Target
Short Interest: Healthy
3.39% of Float Sold Short
Dividend Strength: N/A
Sustainability: -1.05
Upright™ Environmental Score
News Sentiment: 0.12
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Growing
From ($0.46) to ($0.31) Per Share

Overall MarketRank^™

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

1.50 out of 5 stars

Computer And Technology Sector

558th out of 621 stocks

Prepackaged Software Industry

188th out of 219 stocks

2.1

Analyst's Opinion

Consensus Rating
Shopify has received a consensus rating of Hold. The company's average rating score is 2.30, and is based on 13 buy ratings, 22 hold ratings, and 2 sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $54.85, Shopify has a forecasted downside of 4.1% from its current price of $57.18.
Amount of Analyst Coverage
Shopify has been the subject of 17 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
3.39% 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 2.3, 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 7.13%, indicating that investor sentiment is decreasing significantly.

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.

1.7

News and Social Media Coverage

News Sentiment
Shopify has a news sentiment score of 0.12. 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 is a lower news sentiment than the 0.58 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for Shopify this week, compared to 10 articles on an average week.
Search Interest
197 people have searched for SHOP on MarketBeat in the last 30 days. This is an increase of 58% compared to the previous 30 days.
MarketBeat Follows
Only 29 people have added Shopify to their MarketBeat watchlist in the last 30 days. This is a decrease of -22% compared to the previous 30 days.

0.8

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
56.31% 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 ($0.46) to ($0.31) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Shopify is -37.87, 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 -37.87, 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 8.64. 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.

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SHOP Stock News Headlines

May 22, 2023 | marketbeat.com

Is This Why Mike Burry Took a Stake in The RealReal Stock? (SHOP)

Luxury consignment resale platform The RealReal Inc. (NASDAQ: REAL) shares have been sinking from $30.22 in February 2021 to a low of $1.00 in March 2023.

May 5, 2023 | marketbeat.com

Shopify Delivers Growth And Efficiency; Shares Surge

Shopify reported a solid quarter and gave equally good guidance plus the expectation for margin improvement which sent shares up 25%.

June 1, 2023 | Behind the Markets (Ad)

"Unknown laser company making HUGE profit from Russia-Ukraine War"

On February 24th, Russia invaded Ukraine. This caused major stock losses and soaring gas prices. But it also created a HUGE opportunity for savvy investors. There's an unknown laser company that's been profiting greatly from this war... ...and from another major conflict happening 3,000 miles away. Learn more here >>>

May 4, 2023 | marketbeat.com

Shopify narrowing its ambition, sells Deliverr, other pieces

Shopify is selling the two biggest pieces of its fulfillment network and is abandoning its logistics ambitions

May 31, 2023 | baystreet.ca

Shopify Hit With $130 Million Class Action Lawsuit Over Severance Packages

May 30, 2023 | financialpost.com

Shopify faces class action as recently laid-off staff allege it reneged on severance offers

May 30, 2023 | ca.news.yahoo.com

Shopify faces class action over severance offered to recently laid off staff

May 29, 2023 | finance.yahoo.com

Shopify: Buy, Sell, or Hold?

June 1, 2023 | Behind the Markets (Ad)

"Unknown laser company making HUGE profit from Russia-Ukraine War"

May 26, 2023 | fool.ca

Beyond Shopify: This Lesser-Known Canadian Growth Stock Is Set to Soar

May 26, 2023 | americanbankingnews.com

Shopify (NYSE:SHOP) Rating Lowered to Underperform at BNP Paribas

May 24, 2023 | finance.yahoo.com

Shopify's CFO Highlights the Strength of the Business

May 23, 2023 | msn.com

Shopify Launches a New Entrepreneurship Index

May 23, 2023 | forbes.com

GoDaddy Vs. Shopify: 2023 Comparison

May 23, 2023 | finance.yahoo.com

Better Buy: Shopify vs. Fiverr International

May 23, 2023 | finance.yahoo.com

Best Stock to Buy: Amazon vs. Shopify

May 23, 2023 | finance.yahoo.com

Up More Than 100%, Is Shopify's Stock Still a Buy?

May 22, 2023 | msn.com

Take the Zacks Approach to Beat the Market: Shopify, Brambles, McDonald's in Focus

May 22, 2023 | finance.yahoo.com

2 Stocks Up by 40% and 70% This Year That Are Still Worth Buying

May 22, 2023 | americanbankingnews.com

Shopify Inc. (NYSE:SHOP) Receives $54.69 Average Target Price from Brokerages

May 19, 2023 | seekingalpha.com

Shopify: Finally Accelerating Profitability Through Headless Commerce SaaS

May 18, 2023 | finance.yahoo.com

Shopify's Earnings Contained Some Pleasant Surprises, but Did They Make the Stock a Buy?

May 16, 2023 | msn.com

Better Buy: Constellation Software or Shopify Stock?

May 16, 2023 | seekingalpha.com

Is Shopify Stock A Buy Or A Bye After Earnings?

May 16, 2023 | msn.com

Shopify: Shop For The Shares After Its Reprioritization To Main Quests

May 15, 2023 | msn.com

Shopify Soars: Is it Still the King of Canadian E-commerce?

May 15, 2023 | seekingalpha.com

Shopify Q1: GAAP Profitability

See More Headlines

30 days | 90 days | 365 days | Advanced Chart

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SHOP Company Calendar

Last Earnings: 5/04/2023
Today: 5/31/2023
Next Earnings (Estimated): 7/26/2023
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: $54.85
High Stock Price Forecast: $80.00
Low Stock Price Forecast: $30.00
Forecasted Upside/Downside: -4.1%
Consensus Rating: Hold
Rating Score (0-4): 2.30
Research Coverage: 37 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.51)
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: -32.49%
Pretax Margin: -32.08%
Return on Equity: -6.02%
Return on Assets: -4.70%

Debt

Debt-to-Equity Ratio: 0.11
Current Ratio: 6.71
Quick Ratio: 6.71

Sales & Book Value

Annual Sales: $5.60 billion
Price / Sales: 13.04
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $6.62 per share
Price / Book: 8.64

Miscellaneous

Outstanding Shares: 1,276,600,000
Free Float: N/A
Market Cap: $73.01 billion
Optionable: Optionable
Beta: 2.04

Social Links

Key Executives

Tobias Albin Lütke
Chairman & Chief Executive Officer

Harley Finkelstein
President

Kasra Nejatian
Chief Operating Officer & Vice President-Product

Jeff Hoffmeister
Chief Financial Officer

Allan Leinwand
Chief Technology Officer

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?: 37 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last year. There are currently 2 sell ratings, 22 hold ratings and 13 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?: 37 analysts have issued 12 month price targets for Shopify's stock. Their SHOP share price forecasts range from $30.00 to $80.00. On average, they expect the company's stock price to reach $54.85 in the next year. This suggests that the stock has a possible downside of 4.1%.
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 on January 1st, 2023. Since then, SHOP shares have increased by 64.8% and is now trading at $57.19.
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 Wednesday, July 26th 2023.
View our SHOP earnings forecast.
How were Shopify's earnings last quarter?: Shopify Inc. (NYSE:SHOP) announced its quarterly earnings data on Thursday, May, 4th. The software maker reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.08. The software maker earned $1.51 billion during the quarter, compared to the consensus estimate of $1.44 billion. Shopify had a negative net margin of 32.49% and a negative trailing twelve-month return on equity of 6.02%.
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), ARK Next Generation Internation ETF (ARKW), Global X E-Commerce ETF (EBIZ), Spear Alpha ETF (SPRX), Franklin Disruptive Commerce ETF (BUYZ), First Trust Dow Jones International Internet ETF (FDNI), Global X Cloud Computing ETF (CLOU) and ARK Innovation ETF (ARKK).
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 payable to shareholders after the market closes 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 acted 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."
Who are Shopify's major shareholders?: Shopify's stock is owned by many different institutional and retail investors. Top institutional shareholders include Baillie Gifford & Co. (5.57%), Price T Rowe Associates Inc. MD (2.26%), Sands Capital Management LLC (1.85%), Franklin Resources Inc. (1.11%), ARK Investment Management LLC (1.10%) and Sumitomo Mitsui Trust Holdings Inc. (1.02%).
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 $57.19.
How much money does Shopify make?: Shopify (NYSE:SHOP) has a market capitalization of $73.01 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 ($1.51) 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 6/1/2023 by MarketBeat.com Staff

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Shopify (SHOP) Stock Forecast, Price & News

Shopify MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Shopify (NYSE:SHOP) Stock

SHOP Stock News Headlines

SHOP Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Institutional Ownership

SHOP Stock - Frequently Asked Questions

Overall MarketRank^™