Shopify (SHOP) Stock Forecast & Price Target

$115.40 -8.08 (-6.54%)

Closing price 02/21/2025 03:59 PM Eastern

Extended Trading

$115.40 +0.01 (+0.01%)

As of 02/21/2025 07:59 PM Eastern

Shopify - Analysts' Recommendations and Stock Price Forecast (2025)

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 Rating

Moderate Buy

Based on 40 Analyst Ratings

Sell
1

Hold
14

Buy
25

Based on 40 Wall Street analysts who have issued ratings for Shopify in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 40 analysts, 1 has given a sell rating, 14 have given a hold rating, 24 have given a buy rating, and 1 has given a strong buy rating for SHOP.

Consensus Price Target

$126.31
9.46% Upside

According to the 40 analysts' twelve-month price targets for Shopify, the average price target is $126.31. The highest price target for SHOP is $175.00, while the lowest price target for SHOP is $79.00. The average price target represents a forecasted upside of 9.46% from the current price of $115.40.

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SHOP Analyst Ratings Over Time

Type	Current Forecast 2/23/24 to 2/22/25	1 Month Ago 1/24/24 to 1/23/25	3 Months Ago 11/25/23 to 11/24/24	1 Year Ago 2/23/23 to 2/23/24
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	24 Buy rating(s)	24 Buy rating(s)	23 Buy rating(s)	15 Buy rating(s)
Hold	14 Hold rating(s)	14 Hold rating(s)	16 Hold rating(s)	20 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	3 Sell rating(s)
Consensus Price Target	$126.31	$100.31	$94.95	$76.16
Forecasted Upside	9.46% Upside	-5.50% Downside	-11.23% Downside	-0.11% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

SHOP Analyst Recommendations 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	2.63	2.68	2.53
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	9.46% Upside	58.03% Upside	14.36% Upside
News Sentiment Rating	Positive News See Recent SHOP News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
2/18/2025	Jefferies Financial Group 2 of 5 stars	Samad Samana Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Hold ➝ Hold	$110.00 ➝ $130.00	+0.62%
2/17/2025	Phillip Securities 0 of 5 stars	H. Wang Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Moderate Buy
2/12/2025	CIBC 3 of 5 stars		Boost Target	Outperform	$135.00 ➝ $160.00	+30.88%
2/12/2025	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$126.00 ➝ $135.00	+10.43%
2/12/2025	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$125.00 ➝ $150.00	+22.70%
2/12/2025	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight	$120.00 ➝ $135.00	+10.43%
2/12/2025	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$130.00 ➝ $150.00	+22.58%
2/12/2025	ATB Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Perform	$145.00 ➝ $170.00	+38.93%
2/12/2025	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold	$100.00 ➝ $130.00	+6.24%
2/12/2025	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	Overweight ➝ Overweight	$126.00 ➝ $144.00	+18.40%
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2/12/2025	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Timothy Chiodo Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral ➝ Neutral	$110.00 ➝ $125.00	+2.18%
2/12/2025	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	Terry Tillman Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Hold ➝ Hold	$110.00 ➝ $120.00	-1.91%
2/12/2025	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating	Paul Treiber Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$130.00 ➝ $145.00	+20.40%
2/12/2025	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	Gabriela Borges Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$135.00 ➝ $150.00	+25.21%
2/12/2025	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating	Kevin Krishnaratne Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Sector Perform ➝ Sector Perform	$115.00 ➝ $120.00	+0.06%
2/12/2025	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating	Trevor Young Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Equal Weight ➝ Equal Weight	$93.00 ➝ $100.00	-16.46%
2/12/2025	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reginald Smith Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Overweight ➝ Overweight	$121.00 ➝ $124.00	+4.69%
2/12/2025	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating	Mark Mahaney Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$125.00 ➝ $140.00	+12.92%
2/12/2025	Cantor Fitzgerald Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Mathivanan Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Neutral ➝ Neutral	$120.00 ➝ $120.00	-3.21%
2/12/2025	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	David Hynes Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$125.00 ➝ $140.00	+12.92%
2/12/2025	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating	Clarke Jeffries Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral ➝ Neutral	$94.00 ➝ $104.00	-16.12%
2/12/2025	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating	Ken Wong Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$130.00 ➝ $150.00	+20.99%
2/11/2025	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Devitt Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Outperform	$125.00 ➝ $125.00	+0.82%
2/11/2025	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating	Tyler Radke Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Buy ➝ Buy	$143.00 ➝ $175.00	+45.98%
2/10/2025	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Zgutowicz Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy	$150.00	+27.85%
1/10/2025	New Street Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Salmon Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Neutral	$115.00	+12.86%
12/12/2024	JMP Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Market Outperform ➝ Market Outperform	$120.00 ➝ $120.00	+2.19%
12/6/2024	Loop Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Chukumba Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold ➝ Buy	$110.00 ➝ $140.00	+22.72%
11/26/2024	Moffett Nathanson Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Morton Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral ➝ Neutral	$86.00 ➝ $99.00	-10.92%
11/21/2024	DZ Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Hold ➝ Sell
11/13/2024	KeyCorp Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$80.00 ➝ $130.00	+17.58%
11/13/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$68.00 ➝ $105.00	-2.99%
11/12/2024	Atb Cap Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Toner Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold
9/17/2024	Redburn Atlantic Subscribe to MarketBeat All Access for the recommendation accuracy rating	F. Kunwar Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Buy	$99.00	+34.53%
8/8/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Kelleher Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
8/8/2024	Evercore Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$75.00 ➝ $80.00	+17.18%
8/8/2024	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$77.00 ➝ $79.00	+18.23%
7/16/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Khajuria Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$80.00	+24.56%
7/16/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$78.00 ➝ $82.00	+27.68%
5/9/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
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5/2/2024	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underperform ➝ Outperform
2/14/2024	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$85.00 ➝ $89.00	+11.14%
1/26/2024	National Bankshares Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$80.00 ➝ $100.00	+22.13%
12/6/2023	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$65.00 ➝ $75.00	+3.91%
10/25/2023	Veritas Investment Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Set Target	Buy	$52.00	+6.80%
7/14/2023	Credit Suisse Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral	$53.00 ➝ $55.00	-21.83%
5/9/2023	888 Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
5/9/2023	Atlantic Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Neutral	$55.00 ➝ $65.00	+0.96%
5/5/2023	58.com Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Maintains
5/5/2023	National Bank Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$60.00 ➝ $80.00	+39.62%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 03:15 PM ET.

Should I Buy Shopify Stock? SHOP Pros and Cons Explained

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 Monday, February 17, 2025. Please send any questions or comments about these Shopify pros and cons to contact@marketbeat.com.

Shopify
Bull Case

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

Shopify Inc. has a strong market capitalization of $165.85 billion, indicating a robust position in the market and potential for growth.
The stock is currently trading at $128.36, which is close to its 12-month high of $128.57, suggesting strong investor confidence and momentum.
With a price-to-earnings (P/E) ratio of 119.96, while high, it reflects the market's expectations for future growth, which could lead to significant returns if the company meets or exceeds these expectations.
The company has a very low debt-to-equity ratio of 0.09, indicating that it is not heavily reliant on debt for financing, which can be a sign of financial stability.
Shopify Inc. has a quick ratio and current ratio of 7.10, demonstrating strong liquidity and the ability to cover short-term obligations, which is attractive to investors looking for financial health.

Shopify
Bear Case

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

The stock has a high beta of 2.47, indicating that it is more volatile than the market, which could lead to larger price swings and increased risk for investors.
Shopify Inc. reported earnings per share of $0.34, missing the consensus estimate of $0.44, which may raise concerns about its profitability and ability to meet market expectations.
The PEG ratio of 2.49 suggests that the stock may be overvalued relative to its growth rate, which could deter value-focused investors.
Recent trading volume of 8,508,068 shares exceeded the average volume of 6,434,349, which could indicate speculative trading rather than solid investment interest.
With 69.27% of the stock owned by institutional investors, there may be less room for retail investors to influence the stock price, potentially leading to less favorable conditions for individual investors.

SHOP Forecast - Frequently Asked Questions

: According to the research reports of 40 Wall Street equities research analysts, the average twelve-month stock price forecast for Shopify is $126.31, with a high forecast of $175.00 and a low forecast of $79.00.
: 40 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last year. There is currently 1 sell rating, 14 hold ratings, 24 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" SHOP shares.
: According to analysts, Shopify's stock has a predicted upside of 9.46% based on their 12-month stock forecasts.
: Over the previous 90 days, Shopify's stock had 3 upgrades and 1 downgrade by analysts.
: Shopify has been rated by research analysts at ATB Capital, Barclays, Benchmark, Canaccord Genuity Group, Cantor Fitzgerald, CIBC, Citigroup, DA Davidson, Deutsche Bank Aktiengesellschaft, Evercore ISI, Jefferies Financial Group, JMP Securities, JPMorgan Chase & Co., Loop Capital, Moffett Nathanson, Morgan Stanley, New Street Research, Oppenheimer, Phillip Securities, Piper Sandler, Robert W. Baird, Royal Bank of Canada, Scotiabank, TD Securities, The Goldman Sachs Group, Truist Financial, UBS Group, Wedbush, and Wells Fargo & Company in the past 90 days.
: Analysts like Shopify less than other "computer and technology" companies. The consensus rating score for Shopify is 2.63 while the average consensus rating score for "computer and technology" companies is 2.68. Learn more on how SHOP compares to other companies.

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This page (NYSE:SHOP) was last updated on 2/22/2025 by MarketBeat.com Staff

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Shopify (SHOP) Stock Forecast & Price Target