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Shopify (SHOP) Stock Price, News & Analysis

$57.03
-1.88 (-3.19%)
(As of 05/21/2024 ET)
Today's Range
$57.01
$58.55
50-Day Range
$57.82
$81.33
52-Week Range
$45.50
$91.57
Volume
13.76 million shs
Average Volume
10.35 million shs
Market Capitalization
$73.49 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$76.86

Shopify MarketRank™ Stock Analysis

Analyst Rating
Hold
2.49 Rating Score
Upside/​Downside
34.8% Upside
$76.86 Price Target
Short Interest
Healthy
1.33% of Float Sold Short
Dividend Strength
N/A
Sustainability
-1.05
Upright™ Environmental Score
News Sentiment
0.52mentions of Shopify in the last 14 days
Based on 28 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
50.85%
From $0.59 to $0.89 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.

4.68 out of 5 stars

Computer And Technology Sector

67th out of 590 stocks

Prepackaged Software Industry

18th 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

Comeback Alert: Shopify's Rally Is About to Begin
It's been a tough couple of weeks for investors of Shopify Inc. NYSE: SHOP. Indeed, while the broader market has been setting record highs since the final weeks of last year, shares of the e-commerce platform have been sinking some 40% from their high in February.
Comeback Alert: Shopify’s Rally Is About to Begin (SHOP)
The fact that the bears have been unable to take the stock down further means momentum is starting to swing to the bulls.
Why These Companies Are Buying Back Stock Lately (SHOP)
Three companies set aside billions to start buying back cheap stock today, management took from high profits to make this happen, as valuation point to rallies
Shopify Stock Took a Breather, Markets Stay Bullish On its Future
After reporting its first quarter 2024 earnings results, arguably the most important set of results as they set the tone for the rest of the year in any stock, shares of Shopify Inc. NYSE: SHOP are plummeting by as much as 20% during the trading session. However, investors could see that this is a mere breather before the stock makes a potential recovery.
Shopify Stock Took a Breather, Markets Stay Bullish On its Future
Shares of Shopify are plummeting after reporting first quarter 2024 earnings, and analysts think the stock could not only recover but keep rallying.
Shopify tumbles on weak outlook after a very strong start to 2024
Shopify’s stock is poised to potentially tumble to an all-time low on Wednesday as the Canadian company gave a disappointing second-quarter forecast that includes easing revenue growth and thinner margins
Uber, Shopify fall; Lyft, Arista Networks rise, Wednesday, 5/8/2024
Stocks that are trading heavily or have substantial price changes on Wednesday: Uber, Shopify fall; Lyft, Arista Networks rise
3 Stocks Getting Boosted by Analysts
Wall Street analysts reconsider their views on specific stocks and sectors every earnings season. Investors should keep up with ratings and sentiment changes for those names that could interest their portfolios.
3 Stocks Getting Boosted by Analysts (SHOP)
Three stocks show double-digit upside in both EPS projections and price targets today, all part of a wider fundamental tailwind carrying them all forward
Shopify: The Powerhouse Of Next-Generation Commerce
Is It Time to Buy the Dip in Shopify Stock?
Shopify (NYSE:SHOP) Shares Down 0.2%
Where Will Shopify Stock Be in 5 Years?
3 Cheap E-Commerce Stocks to Buy Now: May 2024
7 Cheap Metaverse Stocks to Buy Now: May 2024
See More Headlines
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Company Calendar

Last Earnings
10/28/2021
Today
5/21/2024
Next Earnings (Estimated)
8/07/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Prepackaged software
Sub-Industry
N/A
Fax
N/A
Employees
8,300
Year Founded
2004

Price Target and Rating

Average Stock Price Target
$76.86
High Stock Price Target
$110.00
Low Stock Price Target
$50.00
Potential Upside/Downside
+34.8%
Consensus Rating
Hold
Rating Score (0-4)
2.49
Research Coverage
35 Analysts

Profitability

Net Income
$132 million
Pretax Margin
-1.98%

Debt

Sales & Book Value

Annual Sales
$7.06 billion
Cash Flow
$0.30 per share
Book Value
$7.05 per share

Miscellaneous

Outstanding Shares
1,288,680,000
Free Float
N/A
Market Cap
$73.49 billion
Optionable
Optionable
Beta
2.20

Social Links

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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

SHOP Stock Analysis - Frequently Asked Questions

Should I buy or sell Shopify stock right now?

35 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last twelve months. There are currently 1 sell rating, 16 hold ratings and 18 buy ratings for the stock. The consensus among Wall Street 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?

35 brokers have issued 1 year price objectives for Shopify's shares. Their SHOP share price targets range from $50.00 to $110.00. On average, they predict the company's stock price to reach $76.86 in the next year. This suggests a possible upside of 34.8% 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 2024?

Shopify's stock was trading at $77.90 at the beginning of 2024. Since then, SHOP shares have decreased by 26.8% and is now trading at $57.03.
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 Wednesday, August 7th 2024.
View our SHOP earnings forecast
.

How were Shopify's earnings last quarter?

Shopify Inc. (NYSE:SHOP) released its earnings results on Thursday, October, 28th. The software maker reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. The software maker had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.15 billion. Shopify had a negative net margin of 2.82% and a positive trailing twelve-month return on equity of 7.36%. The business's revenue for the quarter was up 46.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS.

When did Shopify's stock split?

Shopify's stock split on 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?

Shopify (SHOP) raised $100 million in an initial public offering on Thursday, May 21st 2015. The company issued 7,700,000 shares at $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.

Who are Shopify's major shareholders?

Shopify's stock is owned by a number of institutional and retail investors. Top institutional investors include Baillie Gifford & Co. (4.77%), Capital World Investors (3.87%), Vanguard Group Inc. (3.33%), Price T Rowe Associates Inc. MD (2.66%), Capital Research Global Investors (2.63%) and GQG Partners LLC (1.62%).

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 5/21/2024 by MarketBeat.com Staff

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