Shopify (SHOP) Stock Forecast & Price Target

$108.95 +1.88 (+1.76%)

(As of 12/20/2024 05:45 PM ET)

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
15

Buy
24

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, 15 have given a hold rating, 23 have given a buy rating, and 1 has given a strong buy rating for SHOP.

Consensus Price Target

$99.03
-9.11% Downside

According to the 40 analysts' twelve-month price targets for Shopify, the average price target is $99.03. The highest price target for SHOP is $140.00, while the lowest price target for SHOP is $70.00. The average price target represents a forecasted downside of -9.11% from the current price of $108.95.

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SHOP Analyst Ratings Over Time

Type	Current Forecast 12/23/23 to 12/22/24	1 Month Ago 11/23/23 to 11/22/24	3 Months Ago 9/24/23 to 9/23/24	1 Year Ago 12/23/22 to 12/23/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	23 Buy rating(s)	23 Buy rating(s)	24 Buy rating(s)	17 Buy rating(s)
Hold	15 Hold rating(s)	16 Hold rating(s)	15 Hold rating(s)	21 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	2 Sell rating(s)
Consensus Price Target	$99.03	$94.95	$77.92	$69.11
Forecasted Upside	-9.11% Downside	-11.23% Downside	-2.73% Downside	-10.04% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Hold

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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	2.60	2.69	2.51
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	-9.11% Downside	265.04% Upside	14.53% 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
12/12/2024	JMP Securities 2 of 5 stars		Reiterated Rating	Market Outperform ➝ Market Outperform	$120.00 ➝ $120.00	+2.19%
12/6/2024	Loop Capital 2 of 5 stars	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 2 of 5 stars	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	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$88.00 ➝ $135.00	+19.48%
11/13/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$65.00 ➝ $110.00	-2.65%
Get the Latest News and Ratings for SHOP and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Shopify and its competitors with MarketBeat's FREE daily newsletter.
11/13/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$90.00 ➝ $120.00	+6.20%
11/13/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$100.00 ➝ $130.00	+17.58%
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	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Equal Weight ➝ Equal Weight	$70.00 ➝ $93.00	-15.88%
11/13/2024	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$80.00 ➝ $125.00	+12.21%
11/13/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$68.00 ➝ $105.00	-2.99%
11/13/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$67.00 ➝ $94.00	-13.16%
11/13/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$90.00 ➝ $130.00	+20.10%
11/13/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$90.00 ➝ $126.00	+16.41%
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
11/12/2024	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral	$72.00 ➝ $115.00	+6.25%
10/24/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Perform ➝ Sector Perform	$75.00 ➝ $80.00	+0.26%
10/7/2024	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	$70.00 ➝ $70.00	-13.52%
9/30/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$90.00 ➝ $103.00	+29.84%
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%
8/20/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$74.00 ➝ $76.00	+1.54%
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	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$80.00 ➝ $85.00	+25.31%
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%
8/8/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Mahaney Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$75.00 ➝ $80.00	+22.81%
8/8/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$71.00 ➝ $75.00	+14.94%
8/8/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$80.00 ➝ $85.00	+33.08%
8/6/2024	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
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	CIBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperformer ➝ Outperformer	$100.00 ➝ $85.00	+36.13%
5/9/2024	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$90.00 ➝ $84.00	+34.53%
5/9/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$80.00 ➝ $72.00	+15.16%
5/9/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
5/2/2024	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underperform ➝ Outperform
2/14/2024	ATB Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sector Perform	$105.00 ➝ $110.00	+37.36%
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%
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1/5/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold	$65.00 ➝ $80.00	+6.91%
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%
1/25/2023	William Blair Subscribe to MarketBeat All Access for the recommendation accuracy rating	M. Pfau Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Outperform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 11:39 AM 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 Sunday, December 15, 2024. 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 consensus rating of "Moderate Buy" from analysts, indicating positive sentiment towards the stock's future performance.
The stock is currently priced at $112.96, which is significantly above its 52-week low of $48.56, suggesting a recovery and potential for further growth.
With a market capitalization of $145.96 billion, Shopify Inc. is a major player in the commerce platform sector, providing stability and growth potential for investors.
The company has a low debt-to-equity ratio of 0.09, indicating strong financial health and less risk associated with debt, which is attractive for long-term investors.
Recent upgrades from analysts, including a target price increase to $130.00, reflect growing confidence in Shopify Inc.'s business model and market position.

Shopify
Bear Case

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

Despite the positive ratings, one analyst has issued a sell rating, indicating that there are concerns about the stock's performance.
The stock has experienced a recent decline of 2.0%, which may signal volatility and uncertainty in the short term.
Shopify Inc. has a high P/E ratio of 107.79, suggesting that the stock may be overvalued compared to its earnings, which could deter value-focused investors.
The company's PEG ratio of 3.08 indicates that its growth may not justify its current price, raising concerns about future profitability.
With a trading volume of 3,324,078 shares, significantly lower than its average volume, this could indicate reduced investor interest or confidence in the stock.

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 $99.03, with a high forecast of $140.00 and a low forecast of $70.00.
: 40 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last twelve months. There is currently 1 sell rating, 15 hold ratings, 23 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 downside of -9.11% based on their 12-month stock forecasts.
: Over the previous 90 days, Shopify's stock had 2 downgrades and 1 upgrade by analysts.
: Shopify has been rated by research analysts at Atb Cap Markets, Barclays, Canaccord Genuity Group, Cantor Fitzgerald, Citigroup, DZ Bank, JMP Securities, KeyCorp, Loop Capital, Mizuho, Moffett Nathanson, Oppenheimer, Piper Sandler, Robert W. Baird, Royal Bank of Canada, Scotiabank, The Goldman Sachs Group, Truist Financial, 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 2.60 while the average consensus rating score for "computer and technology" companies is 2.69. Learn more on how SHOP compares to other companies.

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This page (NYSE:SHOP) was last updated on 12/22/2024 by MarketBeat.com Staff

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Shopify (SHOP) Stock Forecast & Price Target