Shopify (SHOP) Stock Forecast, Price Target & Predictions

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SHOP Stock Forecast

Shopify stock forecast is as follows: an average price target of $91.91 (represents a -14.07% downside from SHOP’s last price of $106.96) and a rating consensus of 'Buy', based on 37 wall street analysts offering a 1-year stock forecast.

SHOP Price Target

The average price target for Shopify (SHOP) is $91.91 based on 1-year price targets from 37 Wall Street analysts in the past 3 months, with a price target range of $200.00 to $30.00. This represents a potential -14.07% downside from SHOP's last price of $106.96.

SHOP Analyst Ratings

Buy

According to 37 Wall Street analysts, Shopify's rating consensus is 'Buy'. The analyst rating breakdown for SHOP stock is 0 'Strong Buy' (0.00%), 21 'Buy' (56.76%), 16 'Hold' (43.24%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

Shopify Price Target by Analyst

Date	Analyst	Company	Price Target	Price when Published	Price Target/Price when Published	Price Target/Last Closing Price
Nov 13, 2024	Clarke Jeffries	Piper Sandler	-	-	35.64%	-12.12%
Nov 13, 2024	Anthony Chukumba	Loop Capital Markets	-	-	58.73%	2.84%
Nov 13, 2024	Terry Tillman	Truist Financial	-	-	58.73%	2.84%
Nov 12, 2024	Ken Wong	Oppenheimer	-	-	19.35%	21.54%
Nov 12, 2024	Mark Mahaney	Evercore ISI	-	-	14.76%	16.87%
Oct 24, 2024	Kevin Krishnaratne	Scotiabank	-	-	0.38%	-25.21%
Oct 23, 2024	Desmond Lau	Veritas Investment Research	-	-	0.45%	-25.21%
Oct 18, 2024	Paul Treiber	RBC Capital	-	-	22.50%	-6.51%
Oct 11, 2024	Clarke Jeffries	Piper Sandler	-	-	-20.32%	-37.36%
Oct 09, 2024	Anthony Chukumba	Loop Capital Markets	-	-	8.99%	-15.86%

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The latest Shopify stock forecast, released on Nov 13, 2024 by Clarke Jeffries from Piper Sandler, set a price target of $94.00, which represents a 35.64% increase from the stock price at the time of the forecast ($69.30), and a -12.12% decrease from SHOP last price ($106.96).

Shopify Price Target by Period

	1M	3M	12M
# Anlaysts	6	11	39
Avg Price Target	$108.17	$97.82	$82.38
Last Closing Price	$106.96	$106.96	$106.96
Upside/Downside	1.13%	-8.55%	-22.98%

In the current month, the average price target of Shopify stock is $108.17, according to 6 Wall Street analysts offering twelve months forecast. The average price target represents a 1.13% increase as opposed to Shopify's last price of $106.96. This month's average price target is up 10.58% compared to last quarter, and up 31.31% compared to last year.

Analyst Ratings Upgrades/Downgrades

Date	Company	Previous Rating	New Rating	Rating Change
Nov 12, 2024	Evercore ISI	Outperform	Outperform	Hold
Oct 24, 2024	Scotiabank	Sector Perform	Sector Perform	Hold
Oct 18, 2024	RBC Capital	Outperform	Outperform	Hold
Oct 11, 2024	Piper Sandler	Neutral	Neutral	Hold
Oct 09, 2024	Loop Capital Markets	Hold	Hold	Hold
Oct 01, 2024	Barclays	Equal-Weight	Equal-Weight	Hold
Sep 30, 2024	Citigroup	Buy	Buy	Hold
Sep 23, 2024	Oppenheimer	Outperform	Outperform	Hold
Sep 12, 2024	Goldman Sachs	Buy	Buy	Hold
Sep 11, 2024	Wells Fargo	Overweight	Overweight	Hold

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Shopify's last stock rating was published by Evercore ISI on Nov 12, 2024. The company gave SHOP a "Outperform" rating, the same as its previous rate.

Shopify Financial Forecast

Shopify Revenue Forecast

	Dec 28	Sep 28	Jun 28	Mar 28	Dec 27	Sep 27	Jun 27	Mar 27	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$1.51B	$1.73B	$1.37B	$1.30B	$1.20B	$1.38B	$1.12B
Avg Forecast	$5.94B	$4.75B	$4.53B	$4.25B	$4.95B	$3.96B	$3.77B	$3.54B	$3.89B	$3.14B	$3.02B	$2.78B	$3.29B	$2.63B	$2.52B	$2.32B	$2.72B	$2.15B	$2.02B	$1.86B	$2.12B	$1.67B	$1.63B	$1.43B	$1.63B	$1.29B	$1.33B	$1.26B	$1.33B	$1.13B
High Forecast	$6.10B	$4.88B	$4.65B	$4.37B	$5.09B	$4.07B	$3.87B	$3.64B	$3.99B	$3.22B	$3.10B	$2.85B	$3.38B	$2.70B	$2.59B	$2.39B	$2.75B	$2.21B	$2.07B	$1.91B	$2.16B	$1.71B	$1.68B	$1.47B	$1.68B	$1.29B	$1.33B	$1.26B	$1.33B	$1.13B
Low Forecast	$5.79B	$4.63B	$4.41B	$4.15B	$4.83B	$3.87B	$3.68B	$3.45B	$3.79B	$3.06B	$2.94B	$2.71B	$3.21B	$2.56B	$2.46B	$2.24B	$2.70B	$2.10B	$1.97B	$1.81B	$2.08B	$1.64B	$1.59B	$1.40B	$1.59B	$1.29B	$1.33B	$1.26B	$1.33B	$1.13B
# Analysts	11	17	11	17	14	12	14	12	22	12	22	12	11	17	11	24	25	12	8	10	16	33	16	16	17	15	15	15	16	16
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.05%	1.06%	1.06%	0.97%	0.95%	1.04%	1.00%

Shopify's average Quarter revenue forecast for Jun 23 based on 16 analysts is $1.63B, with a low forecast of $1.59B, and a high forecast of $1.68B. SHOP's average Quarter revenue forecast represents a 8.23% increase compared to the company's last Quarter revenue of $1.51B (Mar 23).

Shopify EBITDA Forecast

	Dec 28	Sep 28	Jun 28	Mar 28	Dec 27	Sep 27	Jun 27	Mar 27	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
# Analysts	11	17	11	17	14	12	14	12	22	12	22	12	11	17	11	24	25	12	8	10	16	33	16	16	17	15	15	15	16	16
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$-381.00M	$-188.75M	$-297.44M	$-161.89M	$-75.70M	$-467.94M	$1.35B
Avg Forecast	$22.30M	$17.83M	$17.00M	$15.98M	$18.60M	$14.89M	$14.17M	$13.30M	$14.60M	$11.79M	$11.33M	$10.44M	$12.36M	$9.87M	$9.47M	$8.70M	$10.21M	$8.08M	$7.59M	$6.98M	$7.95M	$6.28M	$6.13M	$5.38M	$-427.33M	$-21.37M	$-22.02M	$-20.90M	$-22.04M	$-18.63M
High Forecast	$22.90M	$18.31M	$17.46M	$16.41M	$19.10M	$15.29M	$14.55M	$13.65M	$14.99M	$12.11M	$11.64M	$10.72M	$12.69M	$10.14M	$9.72M	$8.97M	$10.32M	$8.30M	$7.79M	$7.16M	$8.10M	$6.42M	$6.30M	$5.53M	$-341.86M	$-21.37M	$-22.02M	$-20.90M	$-22.04M	$-18.63M
Low Forecast	$21.75M	$17.39M	$16.58M	$15.59M	$18.14M	$14.53M	$13.82M	$12.97M	$14.24M	$11.50M	$11.05M	$10.18M	$12.05M	$9.63M	$9.24M	$8.40M	$10.13M	$7.88M	$7.40M	$6.81M	$7.80M	$6.17M	$5.98M	$5.25M	$-512.79M	$-21.37M	$-22.02M	$-20.90M	$-22.04M	$-18.63M
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-70.77%	0.44%	13.92%	7.35%	3.62%	21.23%	-72.73%

16 analysts predict SHOP's average Quarter EBITDA for Dec 21 to be $-22.04M, with a high of $-22.04M and a low of $-22.04M. This is -101.63% lower than Shopify's previous annual EBITDA (Sep 21) of $1.35B.

Shopify Net Income Forecast

	Dec 28	Sep 28	Jun 28	Mar 28	Dec 27	Sep 27	Jun 27	Mar 27	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
# Analysts	11	17	11	17	14	12	14	12	22	12	22	12	11	17	11	24	25	12	8	10	16	33	16	16	17	15	15	15	16	16
Net Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$68.00M	$-623.69M	$-158.41M	$-1.20B	$-1.47B	$-371.31M	$1.15B
Avg Forecast	$1.74B	$1.13B	$1.01B	$830.88M	$1.35B	$869.82M	$765.97M	$610.18M	$893.91M	$637.21M	$551.87M	$445.16M	$672.42M	$489.18M	$427.95M	$357.58M	$557.64M	$362.39M	$266.16M	$1.92B	$401.50M	$190.65M	$83.03M	$1.52B	$-339.08M	$-86.40M	$32.21M	$1.20B	$168.95M	$153.69M
High Forecast	$1.80B	$1.17B	$1.05B	$859.92M	$1.40B	$900.23M	$792.74M	$631.50M	$925.15M	$659.48M	$571.16M	$460.71M	$695.93M	$506.28M	$442.91M	$476.76M	$687.32M	$369.50M	$267.02M	$2.30B	$453.31M	$340.43M	$85.93M	$1.82B	$-271.27M	$-86.40M	$32.21M	$1.44B	$168.95M	$153.69M
Low Forecast	$1.68B	$1.09B	$980.17M	$804.25M	$1.31B	$841.94M	$741.40M	$590.61M	$865.25M	$616.79M	$534.18M	$430.89M	$650.87M	$473.50M	$414.23M	$238.39M	$440.93M	$355.28M	$265.31M	$1.54B	$271.98M	$108.94M	$80.37M	$1.21B	$-406.90M	$-86.40M	$32.21M	$959.52M	$168.95M	$153.69M
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.04%	1.84%	1.83%	-37.38%	-1.23%	-2.20%	7.47%

Shopify's average Quarter net income forecast for Jun 23 is $83.03M, with a range of $80.37M to $85.93M. SHOP's average Quarter net income forecast represents a 22.10% increase compared to the company's last Quarter net income of $68.00M (Mar 23).

Shopify SG&A Forecast

	Dec 28	Sep 28	Jun 28	Mar 28	Dec 27	Sep 27	Jun 27	Mar 27	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
# Analysts	11	17	11	17	14	12	14	12	22	12	22	12	11	17	11	24	25	12	8	10	16	33	16	16	17	15	15	15	16	16
SG&A	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$410.00M	$512.39M	$557.60M	$456.80M	$411.46M	$376.53M	$366.67M
Avg Forecast	$1.86B	$1.49B	$1.42B	$1.33B	$1.55B	$1.24B	$1.18B	$1.11B	$1.22B	$984.17M	$945.84M	$871.09M	$1.03B	$823.77M	$790.31M	$726.42M	$851.85M	$674.34M	$633.21M	$402.53M	$663.56M	$524.27M	$511.66M	$318.21M	$343.85M	$405.28M	$417.56M	$251.55M	$417.96M	$353.24M
High Forecast	$1.91B	$1.53B	$1.46B	$1.37B	$1.59B	$1.28B	$1.21B	$1.14B	$1.25B	$1.01B	$971.27M	$894.51M	$1.06B	$845.91M	$811.56M	$748.53M	$861.25M	$692.47M	$650.24M	$483.04M	$676.39M	$535.78M	$525.41M	$381.85M	$412.62M	$405.28M	$417.56M	$301.86M	$417.96M	$353.24M
Low Forecast	$1.81B	$1.45B	$1.38B	$1.30B	$1.51B	$1.21B	$1.15B	$1.08B	$1.19B	$959.90M	$922.52M	$849.61M	$1.01B	$803.45M	$770.82M	$701.15M	$845.59M	$657.71M	$617.60M	$322.03M	$650.74M	$514.82M	$499.04M	$254.57M	$275.08M	$405.28M	$417.56M	$201.24M	$417.96M	$353.24M
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.29%	1.49%	1.38%	1.09%	1.64%	0.90%	1.04%

Shopify's average Quarter SG&A projection for Jun 23 is $511.66M, based on 16 Wall Street analysts, with a range of $499.04M to $525.41M. The forecast indicates a 24.79% rise compared to SHOP last annual SG&A of $410.00M (Mar 23).

Shopify EPS Forecast

	Dec 28	Sep 28	Jun 28	Mar 28	Dec 27	Sep 27	Jun 27	Mar 27	Dec 26	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21
# Analysts	11	17	11	17	14	12	14	12	22	12	22	12	11	17	11	24	25	12	8	10	16	33	16	16	17	15	15	15	16	16
EPS	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$0.05	$-0.49	$-0.12	$-0.95	$-1.17	$-0.30	$0.90
Avg Forecast	$1.34	$0.87	$0.78	$0.64	$1.04	$0.67	$0.59	$0.47	$0.69	$0.49	$0.42	$0.34	$0.52	$0.38	$0.33	$0.27	$0.43	$0.28	$0.20	$0.17	$0.31	$0.15	$0.06	$-0.04	$-0.01	$-0.07	$0.02	$0.06	$0.13	$0.12
High Forecast	$1.38	$0.90	$0.81	$0.66	$1.07	$0.69	$0.61	$0.49	$0.71	$0.51	$0.44	$0.35	$0.53	$0.39	$0.34	$0.37	$0.53	$0.28	$0.21	$0.17	$0.35	$0.26	$0.07	$-0.04	$-0.01	$-0.07	$0.02	$0.06	$0.13	$0.12
Low Forecast	$1.29	$0.84	$0.75	$0.62	$1.00	$0.65	$0.57	$0.45	$0.66	$0.47	$0.41	$0.33	$0.50	$0.36	$0.32	$0.18	$0.34	$0.27	$0.20	$0.17	$0.21	$0.08	$0.06	$-0.04	$-0.01	$-0.07	$0.02	$0.06	$0.13	$0.12
Surprise %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1.25%	36.66%	1.81%	-38.34%	-18.69%	-2.31%	7.61%

According to 16 Wall Street analysts, Shopify's projected average Quarter EPS for Jun 23 is $0.06, with a low estimate of $0.06 and a high estimate of $0.07. This represents a 27.58% increase compared to SHOP previous annual EPS of $0.05 (Mar 23).

Shopify Peer Comparison by Price Target

Ticker	Company	Last Closing Price	Avg Price Target	Upside/Downside	Avg Rating
U	Unity Software	-	-	174.67%	Hold
AI	C3.ai	-	-	88.40%	Buy
ZM	Zoom Video Communications	-	-	30.34%	Hold
SNOW	Snowflake	-	-	22.36%	Buy
INTU	Intuit	-	-	11.71%	Buy
WDAY	Workday	-	-	1.35%	Buy
DDOG	Datadog	-	-	-6.15%	Buy
SHOP	Shopify	-	-	-14.07%	Buy
CRM	Salesforce	-	-	-19.52%	Buy
NOW	ServiceNow	-	-	-21.64%	Buy

SHOP Forecast FAQ

Is Shopify a good buy?

Yes, according to 37 Wall Street analysts, Shopify (SHOP) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 21 'Buy' recommendations, accounting for 56.76% of SHOP's total ratings.

What is SHOP's price target?

Shopify (SHOP) average price target is $91.91 with a range of $30 to $200, implying a -14.07% from its last price of $106.96. The data is based on 37 Wall Street analysts who provided a twelve-month price target estimate in the last three months.

Will Shopify stock go up soon?

According to Wall Street analysts' prediction for SHOP stock, the company can go down by -14.07% (from the last price of $106.96 to the average price target of $91.91), up by 86.99% based on the highest stock price target, and down by -71.95% based on the lowest stock price target.

Can Shopify stock reach $200?

SHOP's average twelve months analyst stock price target of $91.91 does not support the claim that Shopify can reach $200 in the near future.

What is Shopify's current price target trend?

6 Wall Street analysts forecast a $108.17 price target for Shopify (SHOP) this month, up 1.13% from its last price of $106.96. Compared to the last 3 and 12 months, the average price target decreased by -8.55% and decreased by -22.98%, respectively.

What are Shopify's analysts' financial forecasts?

Shopify's analysts financial forecasts for the fiscal year (Dec 2027) are as follows: average revenue is $16.23B (high $16.67B, low $15.83B), average EBITDA is $60.96M (high $62.6M, low $59.46M), average net income is $3.6B (high $3.72B, low $3.48B), average SG&A $5.09B (high $5.22B, low $4.96B), and average EPS is $2.76 (high $2.86, low $2.67). SHOP's analysts financial forecasts for the fiscal year (Dec 2028) are as follows: average revenue is $19.46B (high $19.99B, low $18.98B), average EBITDA is $73.11M (high $75.08M, low $71.31M), average net income is $4.71B (high $4.88B, low $4.56B), average SG&A $6.1B (high $6.27B, low $5.95B), and average EPS is $3.62 (high $3.75, low $3.5).

Did the SHOP's actual financial results beat the analysts' financial forecasts?

Based on Shopify's last annual report (Dec 2022), the company's revenue was $5.6B, beating the average analysts forecast of $5.52B by 1.38%. Apple's EBITDA was $-732M, beating the average prediction of $-492M by 48.85%. The company's net income was $-3.46B, missing the average estimation of $806.12M by -529.27%. Apple's SG&A was $1.94B, beating the average forecast of $1.42B by 36.67%. Lastly, the company's EPS was $-2.73, missing the average prediction of $0.00753 by -36358.25%. In terms of the last quarterly report (Mar 2023), Shopify's revenue was $1.51B, beating the average analysts' forecast of $1.43B by 5.22%. The company's EBITDA was $-381M, missing the average prediction of $5.38M by -7176.95%. Shopify's net income was $68M, missing the average estimation of $1.52B by -95.52%. The company's SG&A was $410M, beating the average forecast of $318.21M by 28.85%. Lastly, the company's EPS was $0.05, missing the average prediction of $-0.04 by -225.09%