Shopify Inc. (SHOP.TO) Buy, Sell or Hold

Shopify Inc. (SHOP.TO)

215.86

+3.76 (1.77%)

as of Oct 2, 2026, 8:00:00 pm Market Open.

979 watching

WATCH

Likes the business and leadership. Huge addressable market. On his bull market game plan for when he's more constructive on markets. Would like to buy at lower levels, probably later this year. Very high beta.

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Unspecified

Shopify is part of a group of companies that are ingrained in the world through their technologies, products and services. These companies were very much over-valued but cost cutting is having a good effect. It is adding subscribers.

DON'T BUY

SHOP vs. LSPD

Last week for the first time in quite a while, some info tech names showed up on relative strength. See his Top Picks. Signs of a positive shift, especially in the US, towards info tech. Still, given higher rates and the sensitivity in the economy, he still favours financials, industrials, and materials.

PARTIAL BUY

Many investors bought at very high levels. Painful. SHOP is now rebuilding its entrants in getting more avenues to the end buyer than just 2-3 years. The stock is not a bad play for online shopping now as a long-term buy.

BUY ON WEAKNESS

Had a good run, got to price target, he traded out. Fallen from grace days of 2021. Bit rich. Can probably get it closer to $50 and 45, but you probably won't see it much below that.

DON'T BUY

Doesn't have the proven business model he's looking for.

BUY

Allan Tong’s Discover Picks SHOP (still on the U.S. version) was trading a month ago at $33.71 (Dec. 23), so the stock has already been rallying hard. The upgrade and fresh signal will inject even more momentum in the short term, and SHOP stock will get another boost if the U.S. Fed’s Jay Powell slows down his interest rate hikes on January 31. That said, Shopify still labours under some sobering metrics. It trades at a PE of 338x, pays a dividend yield of 0%, and its beta is 1.88. True, its valuation was twice as high at its pandemic peak, but still that’s a dizzying number. Read 3 Promising Oversold Stocks for our full analysis.

PAST TOP PICK

(A Top Pick Feb 02/22, Down 55%) He sold some shares in March/April 2022. Likes the company and management. Lots of moving parts here, especially as they negotiate with Amazon about a Prime partnership. Are concerns if the economy enters a recession. SHOP has a new CEO who pledges profitability. Trades at $37, but the target is $41. SHOP has recovered lot from lows.

DON'T BUY

It's run the cycle of accumulation - markup - distribution - markdown. Cautious. Worried the price is going to be flat for a long time, and your money won't be working for you. You can get good rallies, but in the bigger scheme of things, you could be stuck in a sideways range for quite a while.

DON'T BUY

Got ahead of itself. The market wants cost cuts and profits now. Still has tremendous technologies, still the leader for small e-commerce. Addressable market still huge. Not interested until he sees profits.

WAIT

With concept stocks like this one, his discipline is that every time it doubles, sell half. Not a buy for new accounts until the valuation gets to a more predictable level. While rates continue to rise, hard to grow earnings. Avoid tech right now, because things can get worse before they get better.

WAIT

Next 6-12 months? At the top of his list to add to the portfolio when economic and market conditions hit an inflection point. Outperformed the TSX by an average of 100% in all cyclical bull markets since the IPO in 2015. Fallen 85%, might be rolling over again. Likes the two revenue streams. The take rate has been steadily growing. Great secular opportunity ahead. Look for a good entry point in the first half of 2023. Intrinsic value of $45. Total addressable market is colossal, current global e-market share is 3.5%.

BUY

Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Reported a blowout quarter. Online migration accelerated. Management quick to add on merchants. Global exposure.

DON'T BUY

Trend not looking good on the chart. Better places to invest.

WEAK BUY

Q3 better than expected. New products. Management doesn't see a lot of growth in Q4 over Q3. Backbone of small businesses. Needs to be in logistics, but this is difficult. Volatile. With a long time horizon, you'll be fine.

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Shopify Inc. (SHOP.TO)