NYSE:SHOP

Shopify (SHOP) Price Target & Analyst Ratings

$57.90

+0.72 (+1.26%)

(As of 06/1/2023 ET)

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Today's Range: $55.42
▼
$58.59
50-Day Range: $44.31
▼
$64.38
52-Week Range: $23.63
▼
$65.54

Volume: 17.35 million shs
Average Volume: 18.42 million shs
Market Capitalization: $73.92 billion

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

Shopify Consensus Rating and Price Target (2023)

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 Analyst Rating

Hold
Based on 37 Analyst Ratings

Consensus Analyst Price Target

$54.85
-5.27% Downside

High Prediction	$80.00
Average Prediction	$54.85
Low Prediction	$30.00

Type	Current 6/1/22 to 6/1/23	1 Month Ago 5/2/22 to 5/2/23	3 Months Ago 3/3/22 to 3/3/23	1 Year Ago 6/1/21 to 6/1/22
Consensus Rating	Hold	Hold	Hold	Moderate Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	13 Buy rating(s)	14 Buy rating(s)	14 Buy rating(s)	20 Buy rating(s)
Hold	22 Hold rating(s)	19 Hold rating(s)	18 Hold rating(s)	15 Hold rating(s)
Sell	2 Sell rating(s)	2 Sell rating(s)	2 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$54.85	$47.90	$47.73	$92.48
Predicted Upside	-5.27% Downside	11.07% Upside	11.31% Upside	19.47% Upside

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SHOP Analyst Ratings 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	2.30	2.55	2.49
Consensus Rating	Hold	Buy	Hold
Predicted Upside	-4.34% Downside	346.77% Upside	204.23% Upside
News Sentiment Rating	Neutral News	Positive News	Positive News

Historical Target Prices and Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

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Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
5/24/2023	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	Neutral ➝ Underperform
5/9/2023	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Chukumba Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Hold
5/9/2023	92 Resources Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
5/9/2023	888 Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
5/9/2023	DZ Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Hold ➝ Sell	$47.00 ➝ $55.00	-14.57%
5/9/2023	Atlantic Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Neutral	$55.00 ➝ $65.00	+0.96%

5/8/2023	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$45.00 ➝ $50.00	-19.39%
5/5/2023	58.com Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
5/5/2023	1-800-FLOWERS.COM Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
5/5/2023	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating	Kenneth Wong Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$65.00 ➝ $70.00	+13.14%
5/5/2023	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold	$47.00 ➝ $60.00	-2.91%
5/5/2023	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$60.00 ➝ $80.00	+29.45%
5/5/2023	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$65.00 ➝ $75.00	+24.05%
5/5/2023	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$55.00 ➝ $67.00	+10.82%
5/5/2023	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating	G. Luria Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$50.00 ➝ $67.00	+10.82%
5/5/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$40.00 ➝ $53.00	-12.91%
5/5/2023	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$40.00 ➝ $50.00	-17.84%
5/5/2023	JMP Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Boone Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$65.00 ➝ $70.00	+22.16%
5/5/2023	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$55.00 ➝ $65.00	+13.44%
5/5/2023	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Panigrahi Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target		$40.00 ➝ $55.00	-4.01%
5/5/2023	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$60.00 ➝ $80.00	+39.62%
5/5/2023	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Sell ➝ Neutral	$34.00 ➝ $64.00	+11.69%
5/4/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underperform ➝ Neutral
4/11/2023	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold
3/29/2023	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight	$55.00 ➝ $53.00	+14.79%
3/17/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Hold	$45.00	+0.74%
2/17/2023	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral	$54.00 ➝ $50.00	+14.65%
2/16/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$36.00 ➝ $40.00	-8.28%
2/16/2023	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold	$40.00 ➝ $45.00	+3.19%
2/16/2023	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight	$46.00 ➝ $56.00	+4.89%
2/13/2023	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold	$48.30	-0.82%
1/31/2023	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Sector Perform	$43.00	-12.24%
1/30/2023	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$38.00 ➝ $56.00	+11.82%
1/25/2023	William Blair Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Pfau Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Outperform
1/19/2023	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold	$35.00 ➝ $41.00	+4.67%
1/5/2023	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$40.00	+6.55%
12/8/2022	Capital One Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Equal Weight
12/7/2022	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Peer Perform
12/6/2022	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Sector Outperform
11/15/2022	Moffett Nathanson Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Market Perform	$30.00	-21.87%

10/28/2022	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating	Keith Weiss Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Equal Weight	$40.00 ➝ $42.00	+23.38%
8/5/2022	KGI Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Neutral
7/28/2022	Sumitomo Mitsui Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$53.00 ➝ $40.00	+16.04%

(Data available from 6/1/2018 forward. View 10+ years of historical ratings with our analyst ratings screener.)

SHOP Price Target - Frequently Asked Questions

What is Shopify's consensus rating and price target?: According to the issued ratings of 37 analysts in the last year, the consensus rating for Shopify stock is Hold based on the current 2 sell ratings, 22 hold ratings and 13 buy ratings for SHOP. The average twelve-month price prediction for Shopify is $54.85 with a high price target of $80.00 and a low price target of $30.00. 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 for Shopify is Hold while the average consensus rating for computer and technology companies is Buy. 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 3 upgrades and 3 downgrades by analysts.

Does Shopify's stock price have much upside?: According to analysts, Shopify's stock has a predicted upside of 9.87% based on their 12-month price targets.
What analysts cover Shopify?: Shopify has been rated by 1-800-FLOWERS.COM, 58.com, 888, 92 Resources, Atlantic Securities, Bank of America, Barclays, BNP Paribas, Credit Suisse Group, DA Davidson, Deutsche Bank Aktiengesellschaft, DZ Bank, JMP Securities, KeyCorp, Loop Capital, Mizuho, National Bank Financial, National Bankshares, Needham & Company LLC, Oppenheimer, Piper Sandler, Robert W. Baird, Royal Bank of Canada, Stifel Nicolaus, TD Securities, and UBS Group in the past 90 days.

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This page (NYSE:SHOP) was last updated on 6/1/2023 by MarketBeat.com Staff

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