Shopify (SHOP) Stock Forecast & Price Target

$106.43 -2.67 (-2.45%)

As of 05/20/2025 04:00 PM Eastern

Shopify - Analysts' Recommendations and Stock Price Forecast (2025)

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

Moderate Buy

Based on 43 Analyst Ratings

Sell
1

Hold
14

Buy
28

Based on 43 Wall Street analysts who have issued ratings for Shopify in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 43 analysts, 1 has given a sell rating, 14 have given a hold rating, 26 have given a buy rating, and 2 have given a strong buy rating for SHOP.

Consensus Price Target

$115.37
8.40% Upside

According to the 43 analysts' twelve-month price targets for Shopify, the average price target is $115.37. The highest price target for SHOP is $175.00, while the lowest price target for SHOP is $79.00. The average price target represents a forecasted upside of 8.40% from the current price of $106.43.

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SHOP Analyst Ratings Over Time

Type	Current Forecast 5/21/24 to 5/21/25	1 Month Ago 4/21/24 to 4/21/25	3 Months Ago 2/21/24 to 2/20/25	1 Year Ago 5/22/23 to 5/21/24
Strong Buy	2 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	26 Buy rating(s)	24 Buy rating(s)	24 Buy rating(s)	18 Buy rating(s)
Hold	14 Hold rating(s)	14 Hold rating(s)	14 Hold rating(s)	16 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$115.37	$120.94	$126.31	$76.86
Forecasted Upside	8.40% Upside	48.14% Upside	2.53% Upside	34.77% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

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.

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.

Shopify Stock vs. The Competition

Type	Shopify	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.67	2.65	2.54
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	8.40% Upside	114.60% Upside	13.03% Upside
News Sentiment Rating	Positive News See Recent SHOP News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
5/9/2025	UBS Group 3 of 5 stars	Timothy Chiodo Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Neutral ➝ Neutral	$125.00 ➝ $110.00	+19.86%
5/9/2025	JPMorgan Chase & Co. 2 of 5 stars	Reginald Smith Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Overweight ➝ Overweight	$124.00 ➝ $115.00	+25.31%
5/9/2025	Morgan Stanley 3 of 5 stars		Boost Target	Overweight ➝ Overweight	$106.00 ➝ $112.00	+22.19%
5/9/2025	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating	Trevor Young Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Equal Weight ➝ Equal Weight	$100.00 ➝ $94.00	+2.89%
5/8/2025	Atb Cap Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Toner Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Strong-Buy
5/8/2025	Capital One Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	C. Murphy Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Equal Weight ➝ Overweight
5/6/2025	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	Terry Tillman Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Hold ➝ Hold	$120.00 ➝ $100.00	+6.25%
5/6/2025	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Zgutowicz Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Buy ➝ Buy	$150.00 ➝ $125.00	+29.65%
5/6/2025	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating	Thanos Moschopoulos Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$120.00	+21.98%
5/5/2025	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Slowinski Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold
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5/5/2025	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Samad Samana Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Hold ➝ Hold	$130.00 ➝ $110.00	+11.15%
5/5/2025	BNP Paribas Exane Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Neutral	$100.00	+0.76%
4/30/2025	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating	Ken Wong Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Outperform ➝ Outperform	$150.00 ➝ $125.00	+33.68%
4/28/2025	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Perform	$120.00 ➝ $90.00	-7.91%
4/25/2025	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$140.00 ➝ $120.00	+23.64%
4/23/2025	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating	Philip Gibbs Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Overweight ➝ Overweight	$140.00 ➝ $105.00	+12.85%
4/22/2025	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Gabriela Borges Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Buy ➝ Buy	$150.00 ➝ $130.00	+56.04%
4/17/2025	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating	Paul Treiber Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Outperform ➝ Outperform	$145.00 ➝ $125.00	+49.35%
4/16/2025	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating	Deepak Mathivanan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Neutral ➝ Neutral	$120.00 ➝ $80.00	-3.22%
4/16/2025	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Chukumba Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Buy ➝ Buy	$150.00 ➝ $120.00	+45.17%
4/15/2025	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Devitt Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Outperform ➝ Outperform	$110.00	+32.16%
4/14/2025	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating	Gil Luria Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Buy ➝ Buy	$150.00 ➝ $115.00	+37.63%
4/14/2025	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating	Siti Panigrahi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Lower Target	Neutral ➝ Neutral	$110.00 ➝ $85.00	+1.15%
2/17/2025	Phillip Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating	H. Wang Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Moderate Buy
2/12/2025	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$135.00 ➝ $160.00	+30.88%
2/12/2025	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$126.00 ➝ $135.00	+10.43%
2/12/2025	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$125.00 ➝ $150.00	+22.70%
2/12/2025	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight	$120.00 ➝ $135.00	+10.43%
2/12/2025	ATB Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Perform	$145.00 ➝ $170.00	+38.93%
2/12/2025	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold	$100.00 ➝ $130.00	+6.24%
2/12/2025	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating	Mark Mahaney Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$125.00 ➝ $140.00	+12.92%
2/12/2025	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	David Hynes Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$125.00 ➝ $140.00	+12.92%
2/12/2025	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating	Clarke Jeffries Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral ➝ Neutral	$94.00 ➝ $104.00	-16.12%
2/11/2025	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating	Tyler Radke Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$143.00 ➝ $175.00	+45.98%
1/10/2025	New Street Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Salmon Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral	$115.00	+12.86%
12/12/2024	JMP Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Market Outperform ➝ Market Outperform	$120.00 ➝ $120.00	+2.19%
11/26/2024	Moffett Nathanson Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Morton Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral ➝ Neutral	$86.00 ➝ $99.00	-10.92%
11/21/2024	DZ Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Hold ➝ Sell
9/17/2024	Redburn Atlantic Subscribe to MarketBeat All Access for the recommendation accuracy rating	F. Kunwar Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Buy	$99.00	+34.53%
8/8/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Kelleher Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
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8/8/2024	Evercore Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$75.00 ➝ $80.00	+17.18%
8/8/2024	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$77.00 ➝ $79.00	+18.23%
7/16/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Khajuria Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$80.00	+24.56%
7/16/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$78.00 ➝ $82.00	+27.68%
5/9/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
2/14/2024	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$85.00 ➝ $89.00	+11.14%
12/6/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$65.00 ➝ $75.00	+3.91%
10/25/2023	Veritas Investment Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Set Target	Buy	$52.00	+6.80%
7/14/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$53.00 ➝ $55.00	-21.83%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 06:30 AM ET.

Should I Buy Shopify Stock? SHOP Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Wednesday, May 14, 2025. Please send any questions or comments about these Shopify pros and cons to contact@marketbeat.com.

Shopify
Bull Case

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

The current stock price is around $111.45, reflecting a recent increase of 3.5%, which may indicate positive market sentiment.
Institutional investors own a significant portion of the company, with 69.27% of the stock held by various hedge funds, suggesting strong confidence in Shopify Inc.'s future performance.
Analysts have issued a consensus rating of "Moderate Buy" with an average price target of $115.37, indicating potential for price appreciation.
Shopify Inc. has shown resilience with a net margin of 22.74%, which highlights its ability to generate profit relative to its revenue.
Recent upgrades from analysts, including a "Buy" rating from DA Davidson, suggest that there is optimism about the company's growth prospects.

Shopify
Bear Case

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

DA Davidson has recently lowered its FY2025 earnings per share estimate from $1.02 to $0.98, indicating potential challenges in meeting earnings expectations.
Some analysts have set lower price targets, with Mizuho reducing their target from $110.00 to $85.00, reflecting concerns about the stock's valuation.
The company reported earnings per share of $0.34 in its last quarterly report, missing the consensus estimate, which may raise red flags for investors.
Shopify Inc. has a relatively high price-to-earnings (P/E) ratio, which can suggest that the stock is overvalued compared to its earnings, making it a riskier investment.
Market volatility, as indicated by a beta of 2.66, suggests that Shopify Inc.'s stock price may experience significant fluctuations, which could be a concern for risk-averse investors.

SHOP Forecast - Frequently Asked Questions

: According to the research reports of 43 Wall Street equities research analysts, the average twelve-month stock price forecast for Shopify is $115.37, with a high forecast of $175.00 and a low forecast of $79.00.
: 43 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last year. There is currently 1 sell rating, 14 hold ratings, 26 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" SHOP shares.
: According to analysts, Shopify's stock has a predicted upside of 8.40% based on their 12-month stock forecasts.
: Over the previous 90 days, Shopify's stock had 2 upgrades and 2 downgrades by analysts.
: Shopify has been rated by research analysts at Atb Cap Markets, Barclays, Benchmark, BMO Capital Markets, BNP Paribas, BNP Paribas Exane, Cantor Fitzgerald, Capital One Financial, DA Davidson, Jefferies Financial Group, JPMorgan Chase & Co., KeyCorp, Loop Capital, Mizuho, Morgan Stanley, National Bankshares, Oppenheimer, Royal Bank of Canada, Scotiabank, The Goldman Sachs Group, Truist Financial, UBS Group, and Wedbush in the past 90 days.
: Analysts like Shopify more than other "computer and technology" companies. The consensus rating score for Shopify is 2.67 while the average consensus rating score for "computer and technology" companies is 2.65. Learn more on how SHOP compares to other companies.

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This page (NYSE:SHOP) was last updated on 5/21/2025 by MarketBeat.com Staff

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Shopify (SHOP) Stock Forecast & Price Target