Shopify Stock Forecast

Stock Price Forecast

The 31 analysts that cover Shopify stock have a consensus rating of "Buy" and an average price target of $167.48, which forecasts a 49.47% increase in the stock price over the next year. The lowest target is $104 and the highest is $200.

Price Target: $167.48 (+49.47%)

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$104	$167.48	$180	$200
Change	-7.18%	+49.47%	+60.64%	+78.49%

* Price targets were last updated on Jan 8, 2026.

Analyst Ratings

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

Recommendation Trends

Rating	Sep '25	Oct '25	Nov '25	Dec '25	Jan '26	Feb '26
Strong Buy	9	6	6	6	6	6
Buy	15	16	16	15	15	15
Hold	11	12	12	11	11	11
Sell	0	0	0	0	0	0
Strong Sell	0	0	0	0	0	0
Total	35	34	34	32	32	32

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Kevin Krishnaratne Scotiabank	Scotiabank	Hold → Buy Upgrades $165 → $200	Hold → Buy	Upgrades	$165 → $200	+78.49%	Jan 8, 2026
Shweta Khajuria Wolfe Research	Wolfe Research	Buy → Hold Downgrades n/a	Buy → Hold	Downgrades	n/a	n/a	Jan 6, 2026
Jeff Cantwell Wells Fargo	Wells Fargo	Buy Maintains $125 → $198	Buy	Maintains	$125 → $198	+76.71%	Dec 17, 2025
Timothy Chiodo UBS	UBS	Hold Maintains $145 → $165	Hold	Maintains	$145 → $165	+47.26%	Nov 5, 2025
Reginald Smith JP Morgan	JP Morgan	Buy Maintains $179 → $180	Buy	Maintains	$179 → $180	+60.64%	Nov 5, 2025

More Analyst Ratings

Financial Forecast

Revenue This Year

11.71B

from 8.88B

31.82%

from 8.88B

Revenue Next Year

14.51B

from 11.71B

23.96%

from 11.71B

EPS This Year

1.48

from 1.55

-4.55%

from 1.55

EPS Next Year

1.89

from 1.48

27.94%

from 1.48

Fiscal Year	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	2.93B	4.61B	5.60B	7.06B	8.88B	11.71B	14.51B
Revenue Growth	85.63%	57.43%	21.43%	26.07%	25.78%	31.82%	23.96%
EPS	0.26	2.29	-2.73	0.10	1.55	1.48	1.89
EPS Growth	-	784.34%	-	-	1,409.81%	-4.55%	27.94%
Forward PE	-	-	-	-	-	75.74	59.20
No. Analysts	-	-	-	-	-	46	45

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

Revenue Forecast

Revenue	2025	2026
High	12.2B	15.8B
Avg	11.7B	14.5B
Low	11.2B	13.1B

Revenue Growth

Revenue Growth	2025	2026
High	36.9%	34.6%
Avg	31.8%	24.0%
Low	25.8%	12.1%

EPS Forecast

EPS	2025	2026
High	1.72	2.43
Avg	1.48	1.89
Low	1.25	1.30

EPS Growth

EPS Growth	2025	2026
High	10.7%	64.4%
Avg	-4.6%	27.9%
Low	-19.1%	-11.9%

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.