Shopify (SHOP) Stock Forecast & Price Target

C$153.43 -7.77 (-4.82%)

(As of 11/14/2024 ET)

Shopify - Analysts' Recommendations 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.

Consensus Rating

Moderate Buy

Based on 3 Analyst Ratings

Sell
0

Hold
1

Buy
2

Based on 3 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 3 analysts, 1 has given a hold rating, and 2 have given a buy rating for SHOP.

Consensus Price Target

C$118.75
-22.60% Downside

According to the 3 analysts' twelve-month price targets for Shopify, the average price target is C$118.75. The highest price target for SHOP is C$145.00, while the lowest price target for SHOP is C$90.00. The average price target represents a forecasted downside of -22.60% from the current price of C$153.43.

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SHOP Analyst Ratings Over Time

Type	Current Forecast 11/16/23 to 11/15/24	1 Month Ago 10/17/23 to 10/16/24	3 Months Ago 8/18/23 to 8/17/24	1 Year Ago 11/16/22 to 11/16/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	2 Buy rating(s)	2 Buy rating(s)	2 Buy rating(s)	2 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	C$118.75	C$103.33	C$103.33	C$82.33
Forecasted Upside	-22.60% Downside	-8.16% Downside	1.27% Upside	-11.17% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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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
Consensus Rating Score	2.67	2.67
Consensus Rating	Moderate Buy	Moderate Buy
News Sentiment Rating	Positive News See Recent SHOP 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	Action	Rating	Price Target	Upside/Downside on Report Date
11/13/2024	ATB Capital 4 of 5 stars	Downgrade	Outperform ➝ Sector Perform	C$120.00 ➝ C$145.00	-7.53%
11/13/2024	National Bankshares 1 of 5 stars	Boost Target		C$100.00 ➝ C$140.00	-10.72%
2/14/2024	Canaccord Genuity Group 1 of 5 stars	Boost Target	Buy	C$86.00 ➝ C$90.00	-17.03%
12/6/2023	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform	C$80.00 ➝ C$100.00	+2.08%
8/3/2023	CSFB Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Neutral	C$55.00 ➝ C$62.00	-20.86%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Friday at 04:59 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 Friday, November 1, 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 been advancing its enterprise credibility and innovation, underpinning a buy rating, which can indicate positive growth potential.
Shopify Inc. offers a comprehensive commerce platform and services across various regions globally, providing diversification and growth opportunities.
Recent reports suggest that Shopify Inc.'s stock price has been showing resilience and positive momentum, which could be attractive to investors.
As a software application company, Shopify Inc. operates in a sector known for scalability and high margins, potentially leading to strong financial performance.
Shopify Inc. continues to expand its merchant solutions, including accepting payments, shipping, and providing working capital, enhancing its value proposition to customers and potentially driving revenue growth.

Shopify
Bear Case

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

While Shopify Inc. has shown positive momentum, the stock price may be subject to volatility in the software application industry, which could pose risks to investors.
Operating in the computer software subindustry, Shopify Inc. faces competition from established players and emerging startups, potentially impacting its market share and growth trajectory.
Investing in Shopify Inc. requires understanding the complexities of the e-commerce market and the company's ability to adapt to changing consumer preferences and technological advancements.
Market conditions and regulatory changes can influence Shopify Inc.'s operations and financial performance, requiring investors to stay informed and vigilant about external factors.
While Shopify Inc. offers a range of services, the company's success is tied to the overall health of the global economy, which can introduce macroeconomic risks that investors should consider.

SHOP Forecast - Frequently Asked Questions

: According to the research reports of 3 Wall Street equities research analysts, the average twelve-month stock price forecast for Shopify is C$118.75, with a high forecast of C$145.00 and a low forecast of C$90.00.
: 3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Shopify in the last year. There is currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" SHOP shares.
: According to analysts, Shopify's stock has a predicted downside of -22.60% based on their 12-month stock forecasts.
: Over the previous 90 days, Shopify's stock had 1 downgrade by analysts.
: Shopify has been rated by research analysts at ATB Capital, and National Bankshares in the past 90 days.
: Analysts like Shopify less than other "computer and technology" companies. The consensus rating score for Shopify is 2.67 while the average consensus rating score for "computer and technology" companies is 2.67. Learn more on how SHOP compares to other companies.

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This page (TSE:SHOP) was last updated on 11/15/2024 by MarketBeat.com Staff

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Shopify (SHOP) Stock Forecast & Price Target