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Most-Upgraded StocksMost-Upgraded
NYSE:SHOP

Shopify (SHOP) Stock Price, News & Analysis

$87.88
+2.71 (+3.18%)
(As of 02/8/2024 ET)
Compare
Today's Range
$84.90
▼
$91.44
50-Day Range
$71.14
▼
$85.19
52-Week Range
$39.02
▼
$91.44
Volume
20.81 million shs
Average Volume
10.27 million shs
Market Capitalization
$112.91 billion
P/E Ratio
N/A
Dividend Yield
N/A
Price Target
$72.44
Stock AnalysisAnalyst ForecastsChartCompetitorsEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial MediaSustainability

Shopify MarketRank™ Stock Analysis

Analyst Rating
Hold
2.34 Rating Score
Upside/​Downside
16.9% Downside
$73.04 Price Target
Short Interest
Healthy
2.60% of Float Sold Short
Dividend Strength
N/A
Sustainability
-1.05
Upright™ Environmental Score
News Sentiment
0.99mentions of Shopify in the last 14 days
Based on 25 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
223.81%
From $0.21 to $0.68 Per Share

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.

4.10 out of 5 stars

Computer And Technology Sector

135th out of 577 stocks

Prepackaged Software Industry

36th out of 202 stocks

See Top Rated MarketRank™ Stocks Here

SHOP stock logo

About Shopify Stock (NYSE:SHOP)

Shopify Inc. is a commerce platform and eCommerce infrastructure provider connecting small businesses with a large and growing global marketplace. The company was formed in 2004 in Ottawa, Canada as Jaded Pixel Technologies but changed its name to Shopify Inc in 2011. The name change was part of a rebranding strategy that helped accelerate the business and drive it to $5.5 billion in sales in 2022.

As of October 2022, the company boasted “millions” of merchants in 175 countries with more than $543 billion in economic activity generated since launch. In terms of scale, Shopify employs more than 10,000 individuals and is among the top 20 publicly traded companies in Canada.

Shopify was founded by Tobi Lütke. Mr. Lütke had been working on a website for a snowboard store but quickly realized the software was more valuable than just selling snowboards so his team switched gears. The platform was launched in 2006 and it quickly gained momentum. Mr. Lütke is a member of the board of directors and the company’s CEO, a position he has held since 2008.

Shopify is a commerce company but, more importantly, it is an eCommerce commerce company that can assist small businesses with all aspects of their operations. The company is in business to provide an eCommerce platform for small businesses globally. Its platform enables merchants to market, manage, and sell their products through a variety of sales channels that include but are not limited to eCommerce. Channels include the company’s core Shopify.com website as well as brick & mortar locations, pop-ups, social media, and buy-now buttons.

Because branding is such an important part of a business's success the company goes to great lengths to assist its merchants in that regard. The Shopify.com website includes several tools to help with branding that include a business name generator and a logo maker as well as a website builder and a full range of marketing products. Marketing products help merchants with email marketing and Facebook ads as well as automation of the same.

Among the many benefits of using Shopify is acceleration. Businesses that use the website to its fullest are able to accelerate their growth and reach milestones years ahead of their competitors. Brands that use Shopify.com include Heinz, Tupperware, and Netflix. According to data from BuiltWith, the Shopify platform was host to more than 1.58 million websites in 2021 and the figure is growing. Data from W3Techs suggest that more than 4.0% of the top 10 million websites are using Shopify.

 

SHOP Stock Price History

SHOP Stock News Headlines

February 8, 2024 | marketbeat.com
Can Etsy stock craft rebound with support from big investor? (SHOP)
ETSY stock surged after activist investor Elliott Investment Management took a 13% stake; although revenue slowed after the pandemic, analysts see a 27% upside
February 7, 2024 | marketbeat.com
Analysts jumped on this stock ahead of earnings; markets love it (SHOP)
Simon Property Group is a REIT stock attracting lots of market - and analyst - interest to it, willing to boost targets and overpay for the underlying property
February 8, 2024 | Stansberry Research (Ad)
Bill Gates is raving about WHAT?!
The legendary Microsoft founder says that this tech "will be as revolutionary as the personal computer." It could create a new generation of millionaire investors by the end of the decade. 
January 20, 2024 | marketbeat.com
MarketBeat Week in Review – 1/15 - 1/19 (SHOP)
The market continues to bounce back and forth as investors wait on news from the Federal Reserve later this month, but inflation may still be the bigger story
January 17, 2024 | marketbeat.com
Shopify keeps rallying despite downgrades; what's the catch? (SHOP)
The reality is the whole macro-economic landscape is shifting, and it's shifting in favor of the bulls. Tech stocks like Shopify are primed to keep rallying.
January 17, 2024 | marketbeat.com
Shopify keeps rallying despite downgrades; what's the catch?
The reality is the whole macro-economic landscape is shifting, and it's shifting in favor of the bulls. Tech stocks like Shopify are primed to keep rallying.
January 15, 2024 | marketbeat.com
11 best growth stocks to buy now (SHOP)
Growth stocks are companies that grow sales and earnings at a faster rate than the market average. Learn more about the best growth stocks to buy now.
February 8, 2024 | msn.com
Is Shopify Really an AI Stock? (More Importantly: Is it a Buy?)
February 8, 2024 | Stansberry Research (Ad)
HUGE BUY ALERT: Move Fast, Musk…
Since 2018, Eric Wade's investment recommendations have averaged 115%. But one investment he just discovered in Phoenix could blow them all away. It involves Elon Musk, Bill Gates, 32 government mandates, and an AI breakthrough... Not to mention a technology that could help you earn $30,000 a year outside the stock market. 
February 8, 2024 | forbes.com
Shopify Faces Generative AI eCommerce Competition with 10Web
February 8, 2024 | fool.com
Why Shopify Stock Rallied on Thursday
February 8, 2024 | americanbankingnews.com
Shopify (NYSE:SHOP) Given New $100.00 Price Target at CIBC
February 7, 2024 | seekingalpha.com
Shopify: A Sanity Check Is Overdue (Rating Downgrade)
February 6, 2024 | americanbankingnews.com
Shopify (SHOP) to Release Quarterly Earnings on Tuesday
February 4, 2024 | americanbankingnews.com
Shopify (NYSE:SHOP) Given New $90.00 Price Target at Wells Fargo & Company
February 3, 2024 | msn.com
AI may be much more than a buzzword for Shopify
February 3, 2024 | americanbankingnews.com
Shopify (NYSE:SHOP) Shares Gap Up After Analyst Upgrade
February 2, 2024 | marketwatch.com
Shopify Shares Rise After Amazon Posts Strong Holiday Results
February 2, 2024 | fool.com
Why Shopify Stock Suddenly Soared Today
February 2, 2024 | finance.yahoo.com
Meta and Amazon dominate, January jobs report: Yahoo Finance Live
February 1, 2024 | seekingalpha.com
Shopify: Strength Through Partnerships
January 31, 2024 | forbes.com
Weebly Vs. Shopify (2024 Comparison)
January 31, 2024 | msn.com
Shopify’s ‘Magic’ AI image editor can make any product pics look professional
January 31, 2024 | yahoo.com
Shopify’s Big Reveal: 100-plus Innovations and Upgrades
January 31, 2024 | americanbankingnews.com
Shopify (NYSE:SHOP) Sets New 52-Week High After Analyst Upgrade
January 30, 2024 | financialpost.com
Shopify 174% stock rally puts Spear Alpha ETF on Morningstar top fund list
January 29, 2024 | americanbankingnews.com
National Bankshares Boosts Shopify (NYSE:SHOP) Price Target to $100.00
See More Headlines
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Company Calendar

Last Earnings
10/28/2021
Today
2/08/2024
Next Earnings (Confirmed)
2/13/2024
Fiscal Year End
12/31/2024
Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange
NYSE
Sector
Computer and Technology
Industry
Prepackaged software
Sub-Industry
N/A
Current Symbol
NYSE:SHOP
CUSIP
N/A
CIK
1594805
Web
www.shopify.ca
Phone
(613) 241-2828
Fax
N/A
Employees
11,600
Year Founded
2004

Price Target and Rating

Average Stock Price Target
$73.04
High Stock Price Target
$100.00
Low Stock Price Target
$48.30
Potential Upside/Downside
-17.6%
Consensus Rating
Hold
Rating Score (0-4)
2.34
Research Coverage
38 Analysts

Profitability

EPS (Most Recent Fiscal Year)
($0.91)
Trailing P/E Ratio
N/A
Forward P/E Ratio
418.48
P/E Growth
N/A
Net Income
$-3,460,420,000.00
Net Margins
-17.27%
Pretax Margin
-16.70%
Return on Equity
-0.30%
Return on Assets
-0.24%

Debt

Debt-to-Equity Ratio
0.13
Current Ratio
7.23
Quick Ratio
7.23

Sales & Book Value

Annual Sales
$5.60 billion
Price / Sales
20.16
Cash Flow
N/A
Price / Cash Flow
N/A
Book Value
$6.46 per share
Price / Book
13.60

Miscellaneous

Outstanding Shares
1,284,790,000
Free Float
N/A
Market Cap
$112.91 billion
Optionable
Optionable
Beta
2.27

Social Links

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Key Executives

  • Mr. Tobias Lütke (Age 43)
    Founder, Chairman & CEO
    Comp: $1
  • Mr. Harley Finkelstein (Age 41)
    President
    Comp: $664.47k
  • 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

Institutional Ownership

View All Institutional Transactions

Should I Buy Shopify Stock? SHOP Pros and Cons Explained

These insights were generated using artificial intelligence. They are based on proprietary MarketBeat data, news articles, and custom LLM A.I. algorithms. This analysis of Shopify was last updated on Monday, January 29, 2024 at 1:13 PM.

Pros

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

  • Strong Growth Potential: Shopify Inc. operates in the e-commerce industry, which has experienced significant growth in recent years. With its commerce platform and services, Shopify is well-positioned to capitalize on this trend.
  • Diversified Sales Channels: The company's platform enables merchants to sell their products through various sales channels, including web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces. This diversification reduces reliance on any single channel and increases the potential customer reach.
  • Attracting Big Brands: Shopify has rolled out its Commerce Components by Shopify (CCS) to attract large enterprise retail clients. This strategy has already attracted major retailers like Mattel Inc., Supreme, Glossier, Stanley Black and Decker Inc., and celebrity brands. This partnership with big brands can lead to increased revenue and market visibility for Shopify.
  • Expansion into International Markets: Shopify operates in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. This global presence provides opportunities for growth in untapped markets and reduces dependence on any single region.
  • Investment in Delivery Infrastructure: Shopify has been beefing up its delivery infrastructure with its third-party logistics service Deliverr. This investment allows merchants to fulfill orders more efficiently, improving customer satisfaction and potentially attracting more merchants to the platform.

Cons

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

  • Macroeconomic Uncertainty: The cautious Q1 2023 outlook and concerns about high inflation and macroeconomic uncertainty have spooked investors. These factors can impact consumer spending and potentially affect Shopify's revenue growth.
  • Competition from Digital Ad Spending: Shopify faces competition from platforms like Roku Inc., which is seeing an uptick in digital ad spending in consumer verticals like travel and restaurants. This shift in consumer spending patterns can impact Shopify's revenue from discretionary retail categories like apparel.
  • Operating Expenses: Shopify's operating expenses have been growing, including a real estate impairment charge. Investors should closely monitor the company's efforts to stabilize and trim operating expenses, as higher expenses can impact profitability.
  • Dependence on Third-Party Platforms: While Shopify provides a platform for merchants to sell their products, it is dependent on third-party platforms like social media and marketplaces. Any changes or disruptions in these platforms can impact Shopify's ability to generate revenue.
  • Stock Price Volatility: Like any publicly traded company, Shopify's stock price can be subject to volatility. Investors should carefully consider their risk tolerance and investment horizon before investing in Shopify.














SHOP Stock Analysis - Frequently Asked Questions

Should I buy or sell Shopify stock right now?

38 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last twelve months. There are currently 3 sell ratings, 19 hold ratings and 16 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" SHOP shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in SHOP, but not buy additional shares or sell existing shares.
View SHOP analyst ratings or view top-rated stocks.

What is Shopify's stock price target for 2024?

38 equities research analysts have issued twelve-month price objectives for Shopify's stock. Their SHOP share price targets range from $48.30 to $100.00. On average, they anticipate the company's share price to reach $73.04 in the next year. This suggests that the stock has a possible downside of 16.9%.
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 $77.90 at the start of the year. Since then, SHOP shares have increased by 12.8% and is now trading at $87.88.
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 Tuesday, February 13th 2024.
View our SHOP earnings forecast.

How can I listen to Shopify's earnings call?

Shopify will be holding an earnings conference call on Tuesday, February 13th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Shopify's earnings last quarter?

Shopify Inc. (NYSE:SHOP) released its earnings results on Thursday, October, 28th. The software maker reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The software maker earned $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Shopify had a negative trailing twelve-month return on equity of 0.30% and a negative net margin of 17.27%. Shopify's revenue for the quarter was up 46.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share.

What ETFs hold Shopify's stock?

ETFs with the largest weight of Shopify (NYSE:SHOP) stock in their portfolio include ARK Fintech Innovation ETF (ARKF), First Trust Dow Jones International Internet ETF (FDNI), Franklin Disruptive Commerce ETF (BUYZ), Spear Alpha ETF (SPRX), Sterling Capital Focus Equity ETF (LCG), ARK Next Generation Internation ETF (ARKW), Franklin FTSE Canada ETF (FLCA) and ARK Innovation ETF (ARKK).

When did Shopify's stock split?

Shopify shares split before market open on Wednesday, June 29th 2022. The 10-1 split was announced on Monday, April 11th 2022. The newly created shares were payable to shareholders after the market closes on Tuesday, June 28th 2022. An investor that had 100 shares of stock prior to the split would have 1,000 shares after the split.

What is Tobias Lütke's approval rating as Shopify's CEO?

468 employees have rated Shopify Chief Executive Officer Tobias Lütke on Glassdoor.com. Tobias Lütke has an approval rating of 93% among the company's employees. This puts Tobias Lütke in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

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), Alibaba Group (BABA), Netflix (NFLX), Block (SQ), Trade Desk (TTD), PayPal (PYPL), Salesforce (CRM), Walt Disney (DIS) and Advanced Micro Devices (AMD).

When did Shopify IPO?

(SHOP) raised $100 million in an IPO on Thursday, May 21st 2015. The company issued 7,700,000 shares at a price of $12.00-$14.00 per share. Morgan Stanley, Credit Suisse and RBC Capital Markets served as the underwriters for the IPO and Pacific Crest Securities, Raymond James and Canaccord Genuity were co-managers.

Who are Shopify's major shareholders?

Shopify's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Baillie Gifford & Co. (4.99%), Sumitomo Mitsui Trust Holdings Inc. (0.65%), National Bank of Canada FI (0.61%), ARK Investment Management LLC (0.47%), Nikko Asset Management Americas Inc. (0.43%) and Mackenzie Financial Corp (0.34%).

How do I buy shares of Shopify?

Shares of SHOP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Shopify have any subsidiaries?
The following companies are subsidiares of Shopify: 6 River Systems, 6 River Systems LLC, Boltmade, Handshake, Helpful, Jet Cooper, Kit, Oberlo, Return Magic, Select Start Studios, Shopify Capital Inc., Shopify Commerce Singapore Pte. Ltd., Shopify Holdings (USA) Inc., Shopify International Limited, Shopify LLC, Shopify Payments (Canada) Inc., Shopify Payments (USA) Inc., Tictail, and Tiny Hearts.
Read More
This page (NYSE:SHOP) was last updated on 2/8/2024 by MarketBeat.com Staff

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