Should I buy or sell Shopify stock right now?

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last twelve months. There are currently 2 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" SHOP shares. View SHOP analyst ratings or view top-rated stocks .

What is Shopify's stock price target for 2024?

4 Wall Street research analysts have issued 12-month target prices for Shopify's stock. Their SHOP share price targets range from C$62.00 to C$105.00. On average, they expect the company's share price to reach C$89.25 in the next year. This suggests that the stock has a possible downside of 6.9%. 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 C$103.16 at the start of the year. Since then, SHOP shares have decreased by 7.1% and is now trading at C$95.82. 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 Thursday, May 2nd 2024. View our SHOP earnings forecast .

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) , Netflix (NFLX) , Walt Disney (DIS) , Block (SQ) , Micron Technology (MU) , Alibaba Group (BABA) , Costco Wholesale (COST) , Zoom Video Communications (ZM) and Mastercard (MA) .

How do I buy shares of Shopify?

Shares of SHOP stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor , Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers. Compare Top Brokerages Here .

TSE:SHOP

Shopify (SHOP) Stock Price, News & Analysis

→ Uncover this 2024 Hidden Gem (From Tips4Traders) (Ad)

Free SHOP Stock Alerts

C$95.82

+0.03 (+0.03%)

(As of 04/19/2024 ET)

Compare

Today's Range: C$94.65
▼
C$98.50
50-Day Range: C$94.51
▼
C$119.89
52-Week Range: C$62.80
▼
C$123.20

Volume: 2.27 million shs
Average Volume: 2.62 million shs
Market Capitalization: C$115.94 billion

P/E Ratio: 684.43
Dividend Yield: N/A
Price Target: C$89.25

Stock Analysis Analyst Forecasts Chart Competitors Headlines Insider Trades

Get Shopify alerts:

Shopify MarketRank™ Stock Analysis

Analyst Rating: Moderate Buy
2.50 Rating Score
Upside/Downside: 6.9% Downside
C$89.25 Price Target
Short Interest: N/A
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.14
Based on 8 Articles This Week
Insider Trading: Selling Shares
C$753,531 Sold Last Quarter
Proj. Earnings Growth: N/A

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.

0.14 out of 5 stars

1.3

Analyst's Opinion

Consensus Rating
Shopify has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 2 buy ratings, 2 hold ratings, and no sell ratings.
Amount of Analyst Coverage
Shopify has only been the subject of 1 research reports in the past 90 days.

N/A

Short Interest

Short Interest
There is no current short interest data available for SHOP.

0.0

Dividend Strength

Dividend Yield
Shopify does not currently pay a dividend.
Dividend Growth
Shopify does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for SHOP.

1.7

News and Social Media Coverage

News Sentiment
Shopify has a news sentiment score of 0.14. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.49 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 8 news articles for Shopify this week, compared to 6 articles on an average week.
Search Interest
Only 95 people have searched for SHOP on MarketBeat in the last 30 days. This is a decrease of -26% compared to the previous 30 days.
MarketBeat Follows
Only 2 people have added Shopify to their MarketBeat watchlist in the last 30 days. This is a decrease of -60% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Shopify insiders have sold more of their company's stock than they have bought. Specifically, they have bought C$0.00 in company stock and sold C$753,531.00 in company stock.
Percentage Held by Insiders
Only 0.19% of the stock of Shopify is held by insiders.
Percentage Held by Institutions
70.80% of the stock of Shopify is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.0

Earnings and Valuation

Price to Earnings Ratio vs. the Market
The P/E ratio of Shopify is 684.43, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 144.43.
Price to Earnings Ratio vs. Sector
The P/E ratio of Shopify is 684.43, which means that it is trading at a more expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 247.39.
Price to Earnings Growth Ratio
Shopify has a PEG Ratio of 1.09. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
Shopify has a P/B Ratio of 13.59. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

Ad Paradigm Press

Biden replacement revealed?

A former CIA insider just announced a disturbing prediction… Biden will withdraw as the Democrat nominee on June 13.

See his shocking evidence in this new report

About Shopify Stock (TSE:SHOP)

Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.

SHOP Stock Price History

30 days | 90 days | 365 days | Advanced Chart

SHOP Stock News Headlines

March 25, 2024 | marketbeat.com

eBay Steadily Climbs as Collectors Drive Growth

EBAY stock continues to move higher as the online marketplace is seeing strong demand in its growing collectibles business

April 19, 2024 | msn.com

Shopify rallies after Morgan Stanley says valuation is reasonable again

April 20, 2024 | WealthPress (Ad)

The system that called 2023’s top 7 stocks is at it again…

Look 2023 kind of sucked from a trading standpoint… Despite the market finishing 24% higher…. Just seven stocks did all of the work… Unless you were holding or actively trading those 7 stocks, your trading year probably wasn’t as fruitful as you had hoped… According to my research, my new trading system would have spotted all seven of the “Magnificent stocks” MONTHS before they reached the highs they are trading at today.

April 17, 2024 | ca.finance.yahoo.com

Stocks in play: Shopify Inc.

April 17, 2024 | finance.yahoo.com

Shopify to Announce First-Quarter 2024 Financial Results May 8, 2024

April 16, 2024 | msn.com

Why Shopify Fell 1.83% Monday

April 16, 2024 | msn.com

Shopify pits employees against each other to achieve higher pay - report

April 16, 2024 | markets.businessinsider.com

Analysts Offer Insights on Technology Companies: Mitek Systems (MITK) and Shopify (SHOP)

April 20, 2024 | WealthPress (Ad)

The system that called 2023’s top 7 stocks is at it again…

April 16, 2024 | msn.com

Dog Products Maker BARK To Migrate Its DTC Businesses To Shopify

April 16, 2024 | fool.com

Is It Time to Buy the Dip in Shopify Stock?

April 11, 2024 | finance.yahoo.com

Shopify Stock (NYSE:SHOP): Does High Growth Justify the High Valuation?

April 9, 2024 | msn.com

Google Cloud and Shopify join Cognizant to modernise global retail

April 4, 2024 | businessinsider.com

Shopify has poached at least two dozen employees from Salesforce as it pushes into enterprise e-commerce

April 2, 2024 | tmcnet.com

CommentSold Revolutionizes Video Commerce with the Launch of PopClips - Shoppable Videos Across all Its Platforms

March 31, 2024 | msn.com

2 Rock-Solid Growth Stocks to Buy Right Now and Hold for at Least 5 Years

March 27, 2024 | msn.com

Forget Shopify: These Unstoppable Stocks Are Better Buys Today

March 27, 2024 | finance.yahoo.com

Do You Believe in the Growth Prospects of Shopify (SHOP)?

March 23, 2024 | msn.com

Unlocking Success with the Top NJ Shopify Agency: Your Ultimate Guide to Laravel, Magento Website Support, and More

March 22, 2024 | msn.com

Shopify (TSE:SHOP) Slips as Canadian Retail Proves Mixed

March 22, 2024 | markets.businessinsider.com

Shopify (SHOP) Gets a Buy from RBC Capital

March 21, 2024 | benzinga.com

Jim Cramer Likes Jeff Bezos' Amazon Over Shopify, But Says It 'Does An Absolutely Terrific Job...Stick By It'

March 17, 2024 | seekingalpha.com

Shopify: Way Too Cheap For What's Coming

March 15, 2024 | financialpost.com

Shopify's surge led 85% of Canadian stock pickers to trail targets

March 14, 2024 | bloomberg.com

Shopify’s Surge Saw 85% of Canadian Stock Pickers Trail Targets

March 14, 2024 | finance.yahoo.com

Shopify (SHOP) Down 2.5% Since Last Earnings Report: Can It Rebound?

March 13, 2024 | axios.com

Exclusive: Big Sur AI raises $6.9M to reach Shopify merchants

See More Headlines

Receive SHOP Stock News and Ratings via Email

Sign-up to receive the latest news and ratings for Shopify and its competitors with MarketBeat's FREE daily newsletter.

Company Calendar

Today: 4/19/2024
Next Earnings (Estimated): 5/02/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: TSE
Sector: Computer and Technology
Industry: Software - Application
Sub-Industry: N/A
Current Symbol: TSE:SHOP
CUSIP: N/A
CIK: N/A
Web: www.shopify.com
Phone: +1-613-2412828
Fax: N/A
Employees: 8,300
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: C$89.25
High Stock Price Target: C$105.00
Low Stock Price Target: C$62.00
Potential Upside/Downside: -7.0%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.50
Research Coverage: 4 Analysts

Profitability

EPS (Most Recent Fiscal Year): C$0.14
Trailing P/E Ratio: 685.36
Forward P/E Ratio: 70.57
P/E Growth: 1.09
Net Income: C$132 million
Net Margins: 1.87%
Pretax Margin: N/A
Return on Equity: 1.53%
Return on Assets: 1.47%

Debt

Debt-to-Equity Ratio: 12.69
Current Ratio: 6.99
Quick Ratio: 5.74

Sales & Book Value

Annual Sales: C$7.06 billion
Price / Sales: 16.44
Cash Flow: C$7.10 per share
Price / Cash Flow: 13.52
Book Value: C$7.05 per share
Price / Book: 13.61

Miscellaneous

Outstanding Shares: 1,210,000,000
Free Float: N/A
Market Cap: C$116.10 billion
Optionable: Not Optionable
Beta: 2.20

10 Best Cheap Stocks to Buy Now

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

Get This Free Report

Key Executives

Mr. Tobias Lütke (Age 43)
Founder, Chairman & CEO
Comp: $1
Mr. Harley Finkelstein (Age 41)
President
Comp: $915.17k
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

Key Competitors

View All Competitors

Insiders

View All Insider Transactions

Should I Buy Shopify Stock? SHOP Pros and Cons Explained

Pros

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

Shopify's expanding global presence across various regions provides diversification and growth opportunities for investors.
The company's innovative commerce platform enables merchants to reach customers through multiple sales channels, enhancing revenue potential.
Recent analyst price target upgrades indicate positive sentiment towards the stock, potentially leading to price appreciation.
Shopify's strong financial position with a low debt-to-equity ratio and healthy liquidity ratios offers stability and resilience in uncertain market conditions.
Insider transactions, such as senior officers selling shares, can provide insights into the company's performance and future prospects.

Cons

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

The stock's high PE ratio of 721.43 may indicate overvaluation, posing a risk of a potential price correction.
Shopify's beta of 2.22 suggests higher volatility compared to the market average, increasing investment risk.
Recent insider selling activities could signal concerns among company insiders about future performance or valuation.
Shopify's market cap of C$122.21 billion may limit significant short-term growth potential for investors.
The company's P/E/G ratio of 1.09 indicates a relatively high valuation compared to its expected earnings growth rate, potentially impacting future returns.

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 Friday, April 12, 2024. Please send any questions or comments about these Shopify pros and cons to contact@marketbeat.com.

SHOP Stock Analysis - Frequently Asked Questions

Should I buy or sell Shopify stock right now?: 4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last twelve months. There are currently 2 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" SHOP shares.
View SHOP analyst ratings or view top-rated stocks.
What is Shopify's stock price target for 2024?: 4 Wall Street research analysts have issued 12-month target prices for Shopify's stock. Their SHOP share price targets range from C$62.00 to C$105.00. On average, they expect the company's share price to reach C$89.25 in the next year. This suggests that the stock has a possible downside of 6.9%.
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 C$103.16 at the start of the year. Since then, SHOP shares have decreased by 7.1% and is now trading at C$95.82.
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 Thursday, May 2nd 2024.
View our SHOP earnings forecast.

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), Netflix (NFLX), Walt Disney (DIS), Block (SQ), Micron Technology (MU), Alibaba Group (BABA), Costco Wholesale (COST), Zoom Video Communications (ZM) and Mastercard (MA).
How do I buy shares of Shopify?: Shares of SHOP stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
Compare Top Brokerages Here.

This page (TSE:SHOP) was last updated on 4/20/2024 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access Free

Best-in-Class Portfolio Monitoring
View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
Stock Ideas and Recommendations
Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.
Advanced Stock Screeners and Research Tools
Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.

Start Your 30-Day Free Trial

Shopify (SHOP) Stock Price, News & Analysis

Shopify MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Short Interest

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Shopify Stock (TSE:SHOP)

SHOP Stock Price History

SHOP Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Insiders

Should I Buy Shopify Stock? SHOP Pros and Cons Explained

Pros

Cons

SHOP Stock Analysis - Frequently Asked Questions

Overall MarketRank^™