Shopify Inc. (SHOP)

Shopify Stock Forecast

Stock Price Forecast

The 31 analysts with 12-month price forecasts for Shopify stock have an average target of 94.87, with a low estimate of 65 and a high estimate of 135. The average target predicts a decrease of -11.63% from the current stock price of 107.36.

Analyst Consensus: Buy

Target	Low	Average	Median	High
Price	$65	$94.87	$85	$135
Change	-39.46%	-11.63%	-20.83%	+25.75%

Analyst Ratings

The average analyst rating for Shopify stock from 34 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	Jun '24	Jul '24	Aug '24	Sep '24	Oct '24	Nov '24
Strong Buy	7	8	8	9	8	8
Buy	8	9	9	9	9	11
Hold	11	11	12	13	13	13
Sell	1	1	1	1	1	1
Strong Sell	1	1	1	1	1	1
Total	28	30	31	33	32	34

Latest Forecasts

Analyst	Firm	Rating	Rating	Action	Price Target	Upside	Date
Ken Wong Oppenheimer	Oppenheimer	Buy Maintains $90 → $130	Buy	Maintains	$90 → $130	+21.09%	Nov 13, 2024
Andrew Bauch Wells Fargo	Wells Fargo	Buy Maintains $90 → $120	Buy	Maintains	$90 → $120	+11.77%	Nov 13, 2024
Andrew Boone JMP Securities	JMP Securities	Buy Maintains $80 → $120	Buy	Maintains	$80 → $120	+11.77%	Nov 13, 2024
Terry Tillman Truist Securities	Truist Securities	Hold Maintains $65 → $110	Hold	Maintains	$65 → $110	+2.46%	Nov 13, 2024
Gabriela Borges Goldman Sachs	Goldman Sachs	Strong Buy Maintains $88 → $135	Strong Buy	Maintains	$88 → $135	+25.75%	Nov 13, 2024

More Analyst Ratings

Financial Forecast

Revenue This Year

8.82B

Increased by 24.99%

from 7.06B

Revenue Next Year

10.66B

Increased by 20.81%

from 8.82B

EPS This Year

1.13

Increased by 1,004.08%

from 0.10

EPS Next Year

1.40

Increased by 23.57%

from 1.13

Fiscal Year	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	FY 2026
Period Ending	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023	Dec 31, 2024	Dec 31, 2025	Dec 31, 2026
Revenue	1.58B	2.93B	4.61B	5.60B	7.06B	8.82B	10.66B	12.90B
Revenue Growth	47.05%	85.63%	57.43%	21.43%	26.07%	24.99%	20.81%	20.99%
EPS	-0.11	0.26	2.29	-2.73	0.10	1.13	1.40	1.87
EPS Growth	-	-	784.34%	-	-	1,004.08%	23.57%	33.69%
Forward PE	-	-	-	-	-	94.72	76.65	57.34
No. Analysts	-	-	-	-	-	48	48	24

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

Revenue Forecast

Revenue	2024	2025	2026	2027	2028
High	9.3B	12.0B	14.8B
Avg	8.8B	10.7B	12.9B
Low	8.4B	9.8B	11.7B

Revenue Growth

Revenue Growth	2024	2025	2026	2027	2028
High	32.0%	36.2%	38.7%
Avg	25.0%	20.8%	21.0%
Low	19.0%	11.1%	9.9%

EPS Forecast

EPS	2024	2025	2026	2027	2028
High	1.63	1.83	2.36
Avg	1.13	1.40	1.87
Low	0.86	0.86	1.19

EPS Growth

EPS Growth	2024	2025	2026	2027	2028
High	1,485.3%	61.2%	68.7%
Avg	1,004.1%	23.6%	33.7%
Low	740.0%	-23.9%	-15.3%

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.