Shopify (SHOP) Stock Forecast & Price Target

$124.22 +5.62 (+4.74%)

As of 12:00 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
18

Buy
24

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, 18 have given a hold rating, 22 have given a buy rating, and 2 have given a strong buy rating for SHOP.

Consensus Price Target

$120.34
-3.12% Downside

According to the 43 analysts' twelve-month price targets for Shopify, the average price target is $120.34. 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 downside of -3.12% from the current price of $124.22.

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SHOP Analyst Ratings Over Time

Type	Current Forecast 8/4/24 to 8/4/25	1 Month Ago 7/5/24 to 7/5/25	3 Months Ago 5/6/24 to 5/6/25	1 Year Ago 8/5/23 to 8/4/24
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	22 Buy rating(s)	25 Buy rating(s)	25 Buy rating(s)	23 Buy rating(s)
Hold	18 Hold rating(s)	14 Hold rating(s)	16 Hold rating(s)	14 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$120.34	$115.66	$116.00	$77.62
Forecasted Upside	-3.12% Downside	-1.57% Downside	23.63% Upside	42.61% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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	2.58	2.66	2.53
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	1.47% Upside	71.91% Upside	14.55% 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
7/28/2025	Oppenheimer 2 of 5 stars	Ken Wong Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Outperform ➝ Outperform	$125.00 ➝ $145.00	+13.43%
7/28/2025	Scotiabank 5 of 5 stars	Kevin Krishnaratne Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Sector Perform ➝ Sector Perform	$90.00 ➝ $115.00	-9.33%
7/23/2025	Arete Research 0 of 5 stars		Upgrade	Hold
7/22/2025	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating	Justin Patterson Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Overweight ➝ Overweight	$115.00 ➝ $145.00	+16.28%
7/22/2025	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	Anthony Chukumba Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Hold	$120.00	-6.56%
7/21/2025	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$120.00 ➝ $140.00	+8.47%
7/18/2025	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold ➝ Hold
7/18/2025	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating	Todd Coupland Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperformer ➝ Outperformer	$125.00 ➝ $145.00	+14.26%
7/18/2025	Royal Bank Of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$125.00 ➝ $145.00	+14.20%
7/15/2025	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating	Parker Lane Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Hold ➝ Hold	$100.00 ➝ $110.00	-4.73%
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7/14/2025	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating	Scott Berg Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Hold ➝ Buy	$135.00	+20.42%
7/14/2025	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating	Colin Sebastian Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$110.00 ➝ $120.00	+7.04%
6/16/2025	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating	Gil Luria Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$115.00 ➝ $125.00	+14.95%
6/11/2025	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating	Deepak Mathivanan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Neutral ➝ Neutral	$91.00	-20.52%
6/6/2025	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating	Andrew Bauch Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Overweight ➝ Overweight	$107.00 ➝ $125.00	+12.85%
5/9/2025	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating	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 Subscribe to MarketBeat All Access for the recommendation accuracy rating		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
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%
4/22/2025	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%
4/15/2025	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	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	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	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%
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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
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%
2/14/2024	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$85.00 ➝ $89.00	+11.14%
10/25/2023	Veritas Investment Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Set Target	Buy	$52.00	+6.80%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Monday at 11:52 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 Thursday, July 31, 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 $123, reflecting a strong market presence and investor interest.
Shopify Inc. has recently seen significant institutional investment, with major firms acquiring substantial stakes, indicating confidence in the company's future growth.
Analysts have a consensus rating of "Moderate Buy" for Shopify Inc., suggesting that many believe the stock has potential for appreciation.
The company has a robust market capitalization of approximately $159.59 billion, showcasing its strong position in the e-commerce sector.
Shopify Inc. has demonstrated resilience with a 12-month high of $129.38, indicating strong performance and potential for continued growth.

Shopify
Bear Case

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

Recent analyst reports have downgraded Shopify Inc.'s ratings, with some firms reducing their price targets, which may indicate concerns about future performance.
The stock has experienced volatility, with a beta of 2.61, suggesting that it is more volatile than the market, which could pose risks for investors.
Despite a strong market cap, the company has a high P/E ratio of 79.36, which may suggest that the stock is overvalued compared to its earnings.
There is a significant percentage of institutional ownership at 69.27%, which can lead to increased volatility if these investors decide to sell.
Shopify Inc. has faced increased competition in the e-commerce space, which could impact its market share and growth potential.

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 $120.34, with a high forecast of $175.00 and a low forecast of $79.00.
: 43 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last twelve months. There is currently 1 sell rating, 18 hold ratings, 22 buy ratings and 2 strong buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" SHOP shares.
: According to analysts, Shopify's stock has a predicted downside of -3.12% based on their 12-month stock forecasts.
: Over the previous 90 days, Shopify's stock had 3 upgrades and 1 downgrade by analysts.
: Shopify has been rated by research analysts at Arete, Arete Research, Atb Cap Markets, Barclays, Benchmark, BMO Capital Markets, Cantor Fitzgerald, Capital One Financial, CIBC, DA Davidson, JPMorgan Chase & Co., KeyCorp, Loop Capital, Morgan Stanley, National Bankshares, Needham & Company LLC, Oppenheimer, Robert W. Baird, Royal Bank Of Canada, Scotiabank, Stifel Nicolaus, Truist Financial, UBS Group, and Wells Fargo & Company in the past 90 days.
: Analysts like Shopify less than other "computer and technology" companies. The consensus rating score for Shopify is 2.58 while the average consensus rating score for "computer and technology" companies is 2.66. Learn more on how SHOP compares to other companies.

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This page (NYSE:SHOP) was last updated on 8/4/2025 by MarketBeat.com Staff

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Shopify (SHOP) Stock Forecast & Price Target