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GE   139.07 (+0.41%)
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AMC   4.09 (+3.81%)
PFE   27.56 (+0.00%)
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MSFT   414.11 (+0.01%)
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TSLA   189.56 (+1.06%)
NVDA   696.41 (-0.65%)
NIO   5.82 (-0.68%)
AMD   169.35 (-0.93%)
BABA   70.74 (-3.94%)
T   16.82 (-2.94%)
F   12.83 (+0.23%)
MU   84.88 (-0.34%)
CGC   4.11 (-4.86%)
GE   139.07 (+0.41%)
DIS   110.54 (+11.50%)
AMC   4.09 (+3.81%)
PFE   27.56 (+0.00%)
PYPL   56.13 (-11.24%)
XOM   103.97 (+1.71%)

Shopify (SHOP) Stock Forecast & Price Target

$87.88
+2.71 (+3.18%)
(As of 02/8/2024 ET)

Shopify Consensus Analyst Rating 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.

Analysts' Consensus Rating

Hold
Based on 38 Analyst Ratings

Analysts' Consensus Price Target

$73.04
-16.89% Downside
High Forecast$100.00
Average Forecast$73.04
Low Forecast$48.30
TypeCurrent Forecast
2/8/23 to 2/8/24
1 Month Ago
1/9/23 to 1/9/24
3 Months Ago
11/10/22 to 11/10/23
1 Year Ago
2/8/22 to 2/8/23
Consensus Rating
Hold
Hold
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
16 Buy rating(s)
17 Buy rating(s)
19 Buy rating(s)
16 Buy rating(s)
Hold
19 Hold rating(s)
21 Hold rating(s)
22 Hold rating(s)
18 Hold rating(s)
Sell
3 Sell rating(s)
2 Sell rating(s)
0 Sell rating(s)
3 Sell rating(s)
Consensus Price Target$73.04$69.51$65.09$53.14
Predicted Upside-16.89% Downside11.97% Upside13.67% Upside22.46% 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.
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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
2.34
2.57
2.48
Consensus RatingHoldModerate BuyHold
Predicted Upside-17.63% Downside171.92% Upside9.25% Upside
News Sentiment RatingPositive News
Neutral News
Positive News

Recent Analyst Ratings and Stock Forecasts

DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
2/8/2024Citigroup
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 Boost TargetNeutral$87.00 ➝ $96.00+8.97%
2/7/2024CIBC
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 Boost TargetOutperform$82.00 ➝ $100.00+18.32%
2/2/2024Wells Fargo & Company
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 Boost TargetOverweight ➝ Overweight$70.00 ➝ $90.00+10.99%
1/26/2024National Bankshares
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 Boost TargetOutperform$80.00 ➝ $100.00+22.13%
1/22/2024Royal Bank of Canada
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 Reiterated RatingOutperform ➝ Outperform$100.00+23.81%
1/18/2024Barclays
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 Boost TargetEqual Weight ➝ Equal Weight$53.00 ➝ $70.00-12.85%
1/18/2024Piper Sandler
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 Reiterated RatingUnderweight ➝ Underweight$56.00-30.28%
1/18/2024BNP Paribas
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 DowngradeNeutral ➝ Underperform
1/5/2024Jefferies Financial Group
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 Boost TargetHold$65.00 ➝ $80.00+6.91%
12/18/2023JMP Securities
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 Reiterated RatingOutperform ➝ Market Perform
12/12/2023DZ Bank
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 Reiterated RatingHold ➝ Sell$65.00-10.76%
12/6/2023Atb Cap Markets
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M. Toner
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DowngradeOutperform ➝ Sector Perform
12/6/2023Deutsche Bank Aktiengesellschaft
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 Boost TargetBuy ➝ Buy$75.00 ➝ $85.00+19.48%
12/6/2023DA Davidson
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 Boost TargetBuy$75.00 ➝ $86.00+19.15%
12/6/2023Stifel Nicolaus
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 Boost Target$65.00 ➝ $75.00+3.91%
12/6/2023Roth Capital
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 Boost TargetBuy$70.00 ➝ $85.00+17.76%
12/6/2023Canaccord Genuity Group
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 Boost TargetBuy$70.00 ➝ $86.00+19.15%
12/6/2023TD Securities
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 Boost TargetHold$65.00 ➝ $80.00+10.83%
12/6/2023Wedbush
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S. Devitt
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Reiterated RatingOutperform ➝ Neutral$66.00 ➝ $68.00-9.01%
12/4/2023Morgan Stanley
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 Boost TargetEqual Weight ➝ Equal Weight$62.00 ➝ $74.00+2.14%
11/3/2023Robert W. Baird
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 Boost TargetOutperform$70.00 ➝ $75.00+23.60%
11/3/2023Evercore
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 Boost TargetIn-Line$74.00 ➝ $80.00+31.84%
10/25/2023Veritas Investment Research
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 Set TargetBuy$52.00+6.80%
10/20/2023UBS Group
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 Reiterated RatingNeutral ➝ Neutral$55.00+7.13%
10/16/2023Loop Capital
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A. Chukumba
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Lower TargetHold ➝ Hold$62.00 ➝ $57.00+6.58%
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%
8/3/2023The Goldman Sachs Group
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 Boost TargetNeutral ➝ Neutral$59.00 ➝ $65.00+5.74%
8/1/2023Scotiabank
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 Boost TargetSector Perform ➝ Sector Perform$60.00 ➝ $65.00-3.04%
7/24/2023Mizuho
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 Boost TargetNeutral$55.00 ➝ $65.00-0.87%
7/24/2023Moffett Nathanson
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 UpgradeMarket Perform ➝ Outperform$76.00+15.91%
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
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%
4/11/2023Needham & Company LLC
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 Initiated CoverageHold
3/29/2023KeyCorp
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 Lower TargetOverweight$55.00 ➝ $53.00+14.79%
2/13/2023Benchmark
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 Reiterated RatingHold$48.30-0.82%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 08:18 PM ET.












SHOP Price Target - Frequently Asked Questions

What is Shopify's consensus rating and price target?

According to the issued ratings of 38 analysts in the last year, the consensus rating for Shopify stock is Hold based on the current 3 sell ratings, 19 hold ratings and 16 buy ratings for SHOP. The average twelve-month price prediction for Shopify is $73.04 with a high price target of $100.00 and a low price target of $48.30. 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 Moderate Buy. Learn more on how SHOP compares to other companies.

Is Shopify being downgraded by Wall Street analysts?

Over the previous 90 days, Shopify's stock had 3 downgrades by analysts.

Does Shopify's stock price have much upside?

According to analysts, Shopify's stock has a predicted upside of 9.28% based on their 12-month stock forecasts.


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This page (NYSE:SHOP) was last updated on 2/8/2024 by MarketBeat.com Staff

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