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

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Shopify Inc. (SHOP.TO)

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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

Similar

Amazon,AMZN

DON'T BUY

Done well. Benefited from move to e-commerce during Covid. In the right space and trying to add services to its offering. Valuation is high, but so are expectations for the stock.

BUY

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. A lawsuit against them was thrown out yesterday. The stock has broken out technically and volume is triple. E-commerce companies in Asia have had a good sales week and this is probably a follow through from there. Unlock Premium - Try 5i Free

COMMENT

SHOP vs. AMZN Hanging in remarkably well. Has gained relative performance compared to AMZN, which has consolidated for a year and looks like it's trying to make a turn. He'd prefer SHOP, but the whole online retail group continues to struggle a bit. IBUY, as a proxy for the entire group, has also underperformed for several months.

BUY ON WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The company has never missed a quarter. This does not mean it never will however. The weakness seems to come from fear about Q4 and supply chain issues that are impacting their customers. Unlock Premium - Try 5i Free

DON'T BUY

The valuations are out of sight. Snapchat was trading at 30x price to sales and now the stock is down 25%. Beyond Meat was also trading at high multiples and it collapsed. This scares him to buy high multiple stocks. Both are fantastic businesses but he is not ready to pay these multiples.

SELL

Phenomenal company that will do well for years to come, but trades at a huge multiple. Profits are small. Risk/reward is not there. He expects tech to lose its gold status over the next year, so this could fall 40%.

RISKY

Always concerned about the valuation. Pandemic helped it. Easing of the pandemic might hurt. PE of over 275x. Growth rate is strong at over 50%. Rising interest rates negatively impact high-growth companies. Price to sales is 34x, very expensive. Exposed to smaller merchants and bumps in the economy. High beta and volatility. A trade.

COMMENT

SHOP vs. Constellation Software E-commerce continues to proliferate our economy, and SHOP grows organically. In contrast, CSU is more of a growth-by-acquisition story, buying software companies to grow in size. Therefore, CSU is safer, but SHOP has much better growth prospects. SHOP recently did a deal with Facebook. SHOP and CSU are apples vs. oranges. SHOP has more pricing power in the stock than people think as they gain market share, but he isn't sure about this with CSU. CSU has great managers and acquire well.

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TOP PICK

The technology is well developed and continues to improve it. Starting to get into lending. A must have to keep up with the index if you have a large cap portfolio. Mentions are up 75% over the last 24 hours.

BUY

A fantastic company. He does not own it because of its size and valuation. Their technology is well impeded and they are improving it all the time. They are getting into lending. They are a true Canadian champion. You will not be hurt at all. You have to own it if you are managing a large cap portfolio to keep up with the index.

DON'T BUY

Benefitting from pivot to digital commerce. 300x forward earnings, with possible 40-45% growth rate. Price to sales is 50x. Off-the-charts expensive. Share price risk if there's a bump in the road. High beta, a trading vehicle. Interest rates will eventually rise, which tends to have a negative impact on high-growth stocks like this.

BUY ON WEAKNESS

His top pick in the past. He's owned this for a long time and never sold. It's a great story. It'll probably double in the next five years. A must-buy for Canadian investors. But it's fickle--its valuation can move around. Don't buy it now. Wait for a pullback to $1,500-1,600. He expects this to go a lot higher.

BUY

Depending on the type of investor you are, it could be good. For growth investors, it is a good choice. If you are a value investor, it is more difficult to own. Hard to buy on a valuation basis. No matter how fast it grows, the multiple is much ahead.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK

(A Top Pick Apr 13/21, Up 28.2%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with SHOP is progressing well and has achieved our $2000 objective. To be disciplined, we recommend covering 50% of the position here and to trail up the stop (from $1000) to $1550 -- near the original recommended entry. If the stop is triggered, it would all but guarantee a minimum investment return over 14%.

BUY ON WEAKNESS

He thinks it is a hold at these levels. If you don't own it, start to pick away at it. Pick it up in a growth scare pullback. They have a great strategy and great leadership.

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