Wall Street analyst estimates for Shopify Inc. (SHOP): consensus price target, buy/hold/sell recommendations and forecasts for revenue and EPS for the upcoming fiscal years.
Shopify Inc. functions as a premier commerce technology company, providing an extensive platform and associated services to empower businesses worldwide. Its reach extends across Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific region, and Latin America. The company's robust platform equips merchants to effectively display, organize, market, and sell their merchandise through a multitude of sales avenues.
Consensus price target
$176.16 (+12 % vs price $157.44)
between $130.00 and $210.00 · 20 targets published in the last quarter
Closing price, Oct 30
A twelve-month target is not a fair value: compare it with the range in the Valuation tab.
Revenue and EPS estimates
| Fiscal year | Revenue (average) | Revenue (low – high) | EPS (average) | Analysts |
|---|---|---|---|---|
| 2026E | $15.3B | $14.9B – $15.6B | $1.92 | 26 |
| 2027E | $19.3B | $18.2B – $20.0B | $2.49 | 27 |
| 2028E | $24.3B | $22.6B – $29.6B | $3.40 | 14 |
Figures in USD · consensus as of October 29, 2026
Analyst Consensus
| Strong Buy | 0 |
| Buy | 43 |
| Hold | 18 |
| Sell | 3 |
| Strong Sell | 0 |
| Total analysts | 64 |
| Avg rating (−2 sell to +2 buy) | 0.62 |
Recent Earnings Surprises
| Date | EPS Actual | EPS Est. | vs Est. |
|---|---|---|---|
| 2026-11-03 | $0.46 | ||
| 2026-08-05 | $0.42 | $0.40 | +5.7% |
| 2026-05-05 | $0.36 | $0.33 | +10.4% |
| 2026-02-11 | $0.46 | $0.51 | -9.1% |
| 2025-11-04 | $0.34 | $0.34 | +1.0% |
| 2025-08-06 | $0.35 | $0.29 | +20.2% |
| 2025-05-08 | $0.25 | $0.26 | -3.8% |
| 2025-02-11 | $0.44 | $0.43 | +1.8% |
Valuation Ratios
| P/E Ratio | 105.66 |
| Price / Book | 17.04 |
| EV / EBITDA | 84.71 |
| Dividend Yield | 0.00% |
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $389.3M | $673.3M | $1.07B | $1.58B | $2.93B | $4.61B | $5.60B | $7.06B | $8.88B | $11.56B |
| Cost of Revenue | $179.8M | $293.1M | $477.0M | $712.5M | $1.39B | $2.13B | $2.85B | $3.54B | $4.41B | $6.00B |
| Gross Profit | $209.5M | $380.3M | $596.3M | $865.6M | $1.54B | $2.48B | $2.75B | $3.52B | $4.47B | $5.55B |
| Research & Development | $74.3M | $136.0M | $230.7M | $355.0M | $552.1M | $854.4M | $1.50B | $1.73B | $1.37B | $1.54B |
| Selling, General & Admin | $172.3M | $293.4M | $457.5M | $626.6M | $847.4M | $1.28B | $1.94B | $1.71B | $1.80B | $2.13B |
| Operating Expenses | $246.7M | $429.4M | $688.2M | $1.01B | $1.45B | $2.21B | $3.58B | $4.93B | $3.40B | $4.09B |
| Operating Income | -$37.2M | -$49.2M | -$91.9M | -$141.1M | $90.2M | $268.6M | -$822.0M | -$1.42B | $1.07B | $1.47B |
| EBITDA | -$23.2M | -$25.8M | -$64.9M | -$60.2M | $319.0M | $3.21B | -$594.0M | $144.0M | $1.28B | $1.93B |
| Interest Expense | 0 | 0 | 0 | 0 | $9.6M | $3.5M | $1.1M | 0 | 0 | 0 |
| Pre-tax Income | -$35.4M | -$40.0M | -$64.6M | -$95.8M | $240.4M | $3.14B | -$3.62B | $185.0M | $2.23B | $1.51B |
| Income Tax | 0 | 0 | 0 | $29.0M | -$79.1M | $225.9M | -$163.0M | $53.0M | $209.0M | $278.0M |
| Net Income | -$35.4M | -$40.0M | -$64.6M | -$124.8M | $319.5M | $2.91B | -$3.46B | $132.0M | $2.02B | $1.23B |
| EPS | $-0.04 | $-0.04 | $-0.06 | $-0.11 | $0.27 | $2.32 | $-2.73 | $0.10 | $1.56 | $0.95 |
| EPS (Diluted) | $-0.04 | $-0.04 | $-0.06 | $-0.11 | $0.26 | $2.27 | $-2.73 | $0.10 | $1.55 | $0.94 |
| Shares Outstanding (Diluted) | 839.9 M | 957.7 M | 1,056.7 M | 1,130.3 M | 1,234.6 M | 1,273.6 M | 1,266.3 M | 1,295.5 M | 1,301.5 M | 1,305.0 M |
Price
| Price | $157.44 (closing price, October 30, 2026) |
| Market Cap | $204.3B |
| Exchange | NASDAQ |
| Country | CA |
Related companies: AMZN · MELI · EBAY · BABA
Explore sector: Technology · Software - Application
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