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Shopify (SHOP) Stock Forecast & Price Target

$64.25
-2.27 (-3.41%)
(As of 06/18/2024 ET)

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

Consensus Price Target

$76.49
19.05% Upside
High Forecast$110.00
Average Forecast$76.49
Low Forecast$50.00
TypeCurrent Forecast
6/20/23 to 6/19/24
1 Month Ago
5/21/23 to 5/20/24
3 Months Ago
3/22/23 to 3/21/24
1 Year Ago
6/20/22 to 6/20/23
Consensus Rating
Moderate Buy
Moderate Buy
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
22 Buy rating(s)
19 Buy rating(s)
15 Buy rating(s)
13 Buy rating(s)
Hold
15 Hold rating(s)
16 Hold rating(s)
19 Hold rating(s)
22 Hold rating(s)
Sell
1 Sell rating(s)
1 Sell rating(s)
3 Sell rating(s)
2 Sell rating(s)
Consensus Price Target$76.49$76.86$76.42$56.46
Forecasted Upside19.05% Upside14.38% Upside8.45% Upside11.46% Upside
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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.
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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.
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Shopify Stock vs. The Competition

TypeShopifyComputer and Technology CompaniesS&P 500
Consensus Rating Score
2.55
2.60
2.50
Consensus RatingModerate BuyModerate BuyHold
Predicted Upside19.05% Upside209.43% Upside11.32% Upside
News Sentiment RatingPositive News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
6/14/2024Evercore
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 UpgradeIn-Line ➝ Outperform$75.00+10.21%
6/14/2024Evercore ISI
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M. Mahaney
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UpgradeIn-Line ➝ Outperform$75.00 ➝ $75.00+15.91%
6/11/2024JPMorgan Chase & Co.
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 Initiated CoverageOverweight$74.00+17.27%
6/6/2024Moffett Nathanson
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M. Morton
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DowngradeBuy ➝ Neutral$74.00 ➝ $65.00+6.12%
5/28/2024The Goldman Sachs Group
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 Boost TargetBuy ➝ Buy$67.00 ➝ $74.00+27.70%
5/9/2024Scotiabank
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 Lower TargetSector Perform ➝ Sector Perform$80.00 ➝ $75.00+20.02%
5/9/2024Citigroup
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 Lower TargetBuy ➝ Buy$105.00 ➝ $95.00+52.15%
5/9/2024Canaccord Genuity Group
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 Lower TargetBuy ➝ Buy$90.00 ➝ $80.00+28.12%
5/9/2024CIBC
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 Lower TargetOutperformer ➝ Outperformer$100.00 ➝ $85.00+36.13%
5/9/2024DA Davidson
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 Lower TargetBuy ➝ Buy$90.00 ➝ $84.00+34.53%
5/9/2024TD Securities
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 Lower TargetHold ➝ Hold$80.00 ➝ $72.00+15.16%
5/9/2024Royal Bank of Canada
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 Lower TargetOutperform ➝ Outperform$100.00 ➝ $85.00+35.52%
5/9/2024Barclays
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 Lower TargetEqual Weight ➝ Equal Weight$68.00 ➝ $63.00+1.09%
5/9/2024Deutsche Bank Aktiengesellschaft
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 Lower TargetBuy ➝ Buy$95.00 ➝ $80.00+28.37%
5/9/2024Wells Fargo & Company
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 Lower TargetOverweight ➝ Overweight$85.00 ➝ $75.00+20.35%
5/9/2024Needham & Company LLC
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 Reiterated RatingHold
5/9/2024Robert W. Baird
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 Lower TargetOutperform ➝ Outperform$87.00 ➝ $77.00+22.59%
5/9/2024Mizuho
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 Lower TargetNeutral ➝ Neutral$75.00 ➝ $65.00+3.49%
5/9/2024Piper Sandler
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C. Jeffries
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UpgradeUnderweight ➝ Neutral$63.00 ➝ $63.00+0.30%
5/9/2024JMP Securities
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A. Boone
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UpgradeMarket Perform ➝ Outperform$80.00+27.37%
5/8/2024Atb Cap Markets
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M. Toner
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UpgradeSector Perform ➝ Outperform
5/7/2024Benchmark
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 Reiterated RatingHold
5/2/2024BNP Paribas
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 UpgradeUnderperform ➝ Outperform
4/19/2024Morgan Stanley
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 UpgradeEqual Weight ➝ Overweight$74.00 ➝ $85.00+22.28%
4/15/2024Loop Capital
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 Lower TargetHold ➝ Hold$90.00 ➝ $80.00+15.41%
2/14/2024UBS Group
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 Boost TargetNeutral ➝ Neutral$75.00 ➝ $80.00+0.21%
2/14/2024ATB Capital
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 Boost TargetSector Perform$105.00 ➝ $110.00+37.36%
2/14/2024Roth Capital
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 Boost TargetBuy$85.00 ➝ $89.00+11.14%
2/13/2024Wedbush
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S. Devitt
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Reiterated RatingNeutral$68.00-13.62%
2/12/2024Truist Financial
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 Boost TargetHold$65.00 ➝ $90.00+0.18%
1/26/2024National Bankshares
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 Boost TargetOutperform$80.00 ➝ $100.00+22.13%
1/5/2024Jefferies Financial Group
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 Boost TargetHold$65.00 ➝ $80.00+6.91%
12/12/2023DZ Bank
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 Reiterated RatingHold ➝ Sell$65.00-10.76%
12/6/2023Stifel Nicolaus
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 Boost Target$65.00 ➝ $75.00+3.91%
10/25/2023Veritas Investment Research
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 Set TargetBuy$52.00+6.80%
8/29/2023Roth Mkm
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 Reiterated RatingBuy ➝ Buy$76.00 ➝ $73.00+29.94%
8/3/2023Bank of America
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 Boost TargetOutperform$65.00 ➝ $70.00+19.07%
7/14/2023Credit Suisse Group
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 Boost TargetNeutral$53.00 ➝ $55.00-21.83%
6/20/2023Oppenheimer
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 Boost Target$70.00 ➝ $80.00+23.63%
5/9/2023888
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 Reiterated RatingMaintains
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5/9/2023Atlantic Securities
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 DowngradeOverweight ➝ Neutral$55.00 ➝ $65.00+0.96%
5/5/202358.com
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 Reiterated RatingMaintains
5/5/2023National Bank Financial
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 Boost Target$60.00 ➝ $80.00+39.62%
3/29/2023KeyCorp
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 Lower TargetOverweight$55.00 ➝ $53.00+14.79%
1/25/2023William Blair
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M. Pfau
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Reiterated RatingOutperform
12/8/2022Capital One Financial
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 Initiated CoverageEqual Weight
12/7/2022Wolfe Research
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 DowngradeOutperform ➝ Peer Perform
8/5/2022KGI Securities
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 DowngradeOutperform ➝ Neutral
7/28/2022Sumitomo Mitsui Financial Group
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 Lower TargetOutperform$53.00 ➝ $40.00+16.04%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 11:28 PM ET.

SHOP Forecast - Frequently Asked Questions

What is Shopify's stock forecast and purchase recommendation?

According to the research reports of 38 Wall Street equities research analysts, the average twelve-month stock price forecast for Shopify is $76.49, with a high forecast of $110.00 and a low forecast of $50.00. The consensus rating for Shopify stock is Moderate Buy based on the current 1 sell rating, 15 hold ratings and 22 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 2.55 while the average consensus rating score for "computer and technology" companies is 2.60. Learn more on how SHOP compares to other companies.

Is Shopify being upgraded or downgraded by Wall Street analysts?

Over the previous 90 days, Shopify's stock had 9 upgrades and 1 downgrade by analysts.

Does Shopify's stock price have much upside?

According to analysts, Shopify's stock has a predicted upside of 14.23% based on their 12-month stock forecasts.


Stock Forecasts and Research Tools

This page (NYSE:SHOP) was last updated on 6/19/2024 by MarketBeat.com Staff

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