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

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Shopify Inc. (SHOP.TO)

154.09

+1.38 (0.90%)

as of Jun 18, 2026, 7:28:26 pm Market Open.

983 watching

Investor Insights

Jun 18, 2026, 12:00 am

This summary was created by AI, based on 64 opinions in the last 12 months.

Shopify Inc. (SHOP) has received a mixed response from analysts. While many experts praise its business model and growth prospects, especially regarding its adaptability and integration of AI, concerns persist regarding its high valuation and volatility. The stock has been noted for consistently trading at a premium, leading analysts to caution about its price-to-earnings ratios, which often exceed 60x. Moreover, the company's ties to small and medium-sized businesses make it particularly sensitive to economic fluctuations. Despite these warnings, some analysts remain optimistic about its long-term hold potential and view current price levels as attractive entry points for new investors.

Consensus

Cautious

Valuation

Overvalued

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BUY ON WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The stock was downgraded recently, but this is not new news. The company is also brining fulfilment in-house, which may raise costs in the short term. It is probably the right move long term to serve customers better. Unlock Premium - Try 5i Free

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DON'T BUY

As a value investor, he doesn't follow this. Fairly high multiples and high-growth projections. Not on his radar.

DON'T BUY

Until recently, it had the highest market cap on the TSX. It's fallen 50% from its peak. He and his colleagues talk about this a lot, about if and where to enter it. Great platform, but the stock got vastly overvalued. A reasonable value is US$600-700. In 2021, a lot of companies got way ahead of themselves in terms of revenues, including SHOP. A great company, but not necessarily a great stock.

BUY

Allan Tong’s Discover Picks In mid-November 19, SHOP-T peaked at $2,139, and now trades below $1,400. That's a 31% slide. What happened? Omicron hit. Then, the feds announced they would raise interest rates. All tech sold off. To be fair, though, Shopify's PE was sailing high. Peaking at 651.57x on September 30, 2020, it then plunged to 85.72x six months later, then 50.53x exactly a year later. It now trades at a fairly reasonable 41x. To compare, Apple stands at 30.8x and Amazon 62x. Also, returns are among the highest in the software business with a 24% ROI. Read 3 Technology Stocks with Potential for our full analysis.

BUY ON WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Many investors might be selling even at these levels with a profit. The market is rotating from high valuation growth names to value names. It is risk off right now. Has moved down from 52x to 22x forward sales. The premium valuation is probably still deserved though since it has an incredible moat. A decent buying opportunity. Unlock Premium - Try 5i Free

WAIT

Great story, great growth. Problem is should it trade at 25x, or more like the current 12.8x? Fickle, in reaction to sentiment and bond yields, crowded trade. Back to $2100? Yes. In next 12 months? No. Buy now? No. Time to add might be when people forget about it a little bit.

TRADE

Believes is a good company with a great story. Likes growth profile of eCommerce sector. Insider trading/selling at company is a concern. Large management turnover is not unusual, however, is a concern. Prefers Amazon over Shopify. Nothing stopping Amazon from moving into Shopify's space.

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PAST TOP PICK

(A Top Pick Apr 13/21, Down 0.6%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with SHOP has triggered its stop at $1550. To remain disciplined, we recommend covering the position at this time. This results in a net investment gain of 13%, when combined with our previous recommendation to cover half the position.

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SELL

Yesterday, he got a "sell" signal. Balance sheet is too big for current level of earnings. Earnings have to move from $8.68 to $10.50, a big gap. If earnings stay where they are, stock price is coming down. Model price of $222 (yes, that's right), so it's a long way down. Broken growth story. Don't buy the dip.

BUY ON WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The pullback today seems to be more market related than company-specific. 5i is comfortable stepping in now, but a bad start to the year could mean more than usual volatility. Unlock Premium - Try 5i Free

BUY

Has owned stock since price of $38.00 Shopify has capitalized on helping small and medium business owners (Amazon missed this). ~300x P/E makes it a cautious buy. Take a half position and wait until market pullback.

COMMENT

Has defied the odds. Has $200 billion market cap and is the most valuable company in Canada. has consistently beaten analysts' expectations. You're paying over 40 X sales so there's a valuation risk. It is difficult to assume it will continue to grow at 30% to 50%. Doesn't own.

COMMENT

Likes the business. Nosebleed valuation, but they continue to execute. Price target isn't much higher than it is today. Optimistic that over long term, it will be a dominant player in the space as they add retailers to their portfolio. $1672 is the sell side target, so there's caution out there. A rapid rise in rates will put pressure on these names.

DON'T BUY

She's never owned it. SHOP has done very well, but she's a value investor. They will post strong growth, but the headwind is moderating growth in anticipation of higher interest rates. She follows SHOP, but hasn't pulled the trigger on it.

BUY ON WEAKNESS

Great Canadian company. Continues to gain market share. Might want to hold off buying, as it's done so well. If you're prepared for the volatility, you'll do quite well.

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