Shopify Stock Forecast

Stock Price Forecast

The 31 analysts with 12-month price forecasts for Shopify stock have an average target of 116.71, with a low estimate of 72 and a high estimate of 175. The average target predicts an increase of 20.72% from the current stock price of 96.68.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$72	$116.71	$120	$175
Change	-25.53%	+20.72%	+24.12%	+81.01%

* Price targets were last updated on Feb 18, 2025.

Analyst Ratings

The average analyst rating for Shopify stock from 33 stock analysts is "Buy". This means that analysts believe this stock is likely to outperform the market over the next twelve months.

Recommendation Trends

Rating	Oct '24	Nov '24	Dec '24	Jan '25	Feb '25	Mar '25
Strong Buy	8	8	9	9	9	9
Buy	9	11	11	12	12	12
Hold	13	13	11	11	12	12
Sell	1	1	1	0	0	0
Strong Sell	1	1	0	0	0	0
Total	32	34	32	32	33	33

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Samad Samana Jefferies	Jefferies	Hold Maintains $110 → $130	Hold	Maintains	$110 → $130	+34.46%	Feb 18, 2025
Keith Weiss Morgan Stanley	Morgan Stanley	Buy Maintains $126 → $144	Buy	Maintains	$126 → $144	+48.94%	Feb 12, 2025
Terry Tillman Truist Securities	Truist Securities	Hold Maintains $110 → $120	Hold	Maintains	$110 → $120	+24.12%	Feb 12, 2025
Timothy Chiodo UBS	UBS	Hold Maintains $110 → $125	Hold	Maintains	$110 → $125	+29.29%	Feb 12, 2025
Paul Treiber RBC Capital	RBC Capital	Buy Maintains $130 → $145	Buy	Maintains	$130 → $145	+49.98%	Feb 12, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

11.13B

from 8.88B

25.38%

from 8.88B

Revenue Next Year

13.42B

from 11.13B

20.56%

from 11.13B

EPS This Year

1.53

from 1.55

-1.10%

from 1.55

EPS Next Year

1.91

from 1.53

24.85%

from 1.53

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026	FY 2027
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026	Dec 31, 2027
Revenue	2.93B	4.61B	5.60B	7.06B	8.88B	11.13B	13.42B	16.27B
Revenue Growth	85.63%	57.43%	21.43%	26.07%	25.78%	25.38%	20.56%	21.22%
EPS	0.26	2.29	-2.73	0.10	1.55	1.53	1.91	2.56
EPS Growth	-	784.34%	-	-	1,409.81%	-1.10%	24.85%	33.64%
Forward PE	-	-	-	-	-	63.07	50.51	37.80
No. Analysts	-	-	-	-	-	46	43	17

Historical EPS numbers are GAAP, while forecasted numbers may be non-GAAP.

Revenue Forecast

Revenue	2025	2026	2027
High	11.7B	14.7B	18.1B
Avg	11.1B	13.4B	16.3B
Low	10.4B	12.0B	13.8B

Revenue Growth

Revenue Growth	2025	2026	2027
High	32.2%	31.8%	34.9%
Avg	25.4%	20.6%	21.2%
Low	16.7%	7.6%	3.1%

EPS Forecast

EPS	2025	2026	2027
High	2.06	2.42	3.30
Avg	1.53	1.91	2.56
Low	1.00	1.29	1.91

EPS Growth

EPS Growth	2025	2026	2027
High	32.8%	57.5%	72.6%
Avg	-1.1%	24.8%	33.6%
Low	-35.5%	-15.6%	-0.2%

Sources: Price targets and analyst ratings provided by Benzinga. Revenue and EPS forecast data provided by Finnhub. The data is sourced from Wall Street analysts. Data disclaimer.