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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%)
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Shopify (SHOP) Stock Forecast & Price Target

$87.88
+2.71 (+3.18%)
(As of 02/8/2024 ET)
Compare
Stock AnalysisAnalyst ForecastsChartCompetitorsEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial MediaSustainability

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

Export to Excel
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
2/8/2024Citigroup
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetNeutral$87.00 ➝ $96.00+8.97%
2/7/2024CIBC
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform$82.00 ➝ $100.00+18.32%
2/2/2024Wells Fargo & Company
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOverweight ➝ Overweight$70.00 ➝ $90.00+10.99%
1/26/2024National Bankshares
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform$80.00 ➝ $100.00+22.13%
1/22/2024Royal Bank of Canada
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingOutperform ➝ Outperform$100.00+23.81%
1/18/2024Barclays
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetEqual Weight ➝ Equal Weight$53.00 ➝ $70.00-12.85%
1/18/2024Piper Sandler
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingUnderweight ➝ Underweight$56.00-30.28%
1/18/2024BNP Paribas
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 DowngradeNeutral ➝ Underperform
1/5/2024Jefferies Financial Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetHold$65.00 ➝ $80.00+6.91%
12/18/2023JMP Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingOutperform ➝ Market Perform
12/12/2023DZ Bank
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingHold ➝ Sell$65.00-10.76%
12/6/2023Atb Cap Markets
Subscribe to MarketBeat All Access for the recommendation accuracy rating		M. Toner
Subscribe to MarketBeat All Access for the recommendation accuracy rating		DowngradeOutperform ➝ Sector Perform
12/6/2023Deutsche Bank Aktiengesellschaft
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy ➝ Buy$75.00 ➝ $85.00+19.48%
12/6/2023DA Davidson
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy$75.00 ➝ $86.00+19.15%
12/6/2023Stifel Nicolaus
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost Target$65.00 ➝ $75.00+3.91%
12/6/2023Roth Capital
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy$70.00 ➝ $85.00+17.76%
12/6/2023Canaccord Genuity Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetBuy$70.00 ➝ $86.00+19.15%
12/6/2023TD Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetHold$65.00 ➝ $80.00+10.83%
12/6/2023Wedbush
Subscribe to MarketBeat All Access for the recommendation accuracy rating		S. Devitt
Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated RatingOutperform ➝ Neutral$66.00 ➝ $68.00-9.01%
12/4/2023Morgan Stanley
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetEqual Weight ➝ Equal Weight$62.00 ➝ $74.00+2.14%
11/3/2023Robert W. Baird
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform$70.00 ➝ $75.00+23.60%
11/3/2023Evercore
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetIn-Line$74.00 ➝ $80.00+31.84%
10/25/2023Veritas Investment Research
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Set TargetBuy$52.00+6.80%
10/20/2023UBS Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingNeutral ➝ Neutral$55.00+7.13%
10/16/2023Loop Capital
Subscribe to MarketBeat All Access for the recommendation accuracy rating		A. Chukumba
Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower TargetHold ➝ Hold$62.00 ➝ $57.00+6.58%
8/29/2023Roth Mkm
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingBuy ➝ Buy$76.00 ➝ $73.00+29.94%
8/3/2023Bank of America
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetOutperform$65.00 ➝ $70.00+19.07%
8/3/2023The Goldman Sachs Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetNeutral ➝ Neutral$59.00 ➝ $65.00+5.74%
8/1/2023Scotiabank
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetSector Perform ➝ Sector Perform$60.00 ➝ $65.00-3.04%
7/24/2023Mizuho
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetNeutral$55.00 ➝ $65.00-0.87%
7/24/2023Moffett Nathanson
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 UpgradeMarket Perform ➝ Outperform$76.00+15.91%
7/14/2023Credit Suisse Group
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost TargetNeutral$53.00 ➝ $55.00-21.83%
6/20/2023Oppenheimer
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost Target$70.00 ➝ $80.00+23.63%
5/9/2023888
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingMaintains
5/9/2023Atlantic Securities
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 DowngradeOverweight ➝ Neutral$55.00 ➝ $65.00+0.96%
5/5/202358.com
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Reiterated RatingMaintains
5/5/2023National Bank Financial
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Boost Target$60.00 ➝ $80.00+39.62%
4/11/2023Needham & Company LLC
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Initiated CoverageHold
3/29/2023KeyCorp
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 Lower TargetOverweight$55.00 ➝ $53.00+14.79%
2/13/2023Benchmark
Subscribe to MarketBeat All Access for the recommendation accuracy rating		 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.

What analysts cover Shopify?

Shopify has been rated by Atb Cap Markets, Barclays, BNP Paribas, Canaccord Genuity Group, CIBC, Citigroup, DA Davidson, Deutsche Bank Aktiengesellschaft, DZ Bank, Jefferies Financial Group, JMP Securities, Morgan Stanley, National Bankshares, Piper Sandler, Roth Capital, Royal Bank of Canada, Stifel Nicolaus, TD Securities, Wedbush, and Wells Fargo & Company in the past 90 days.


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

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