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

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Shopify Inc. (SHOP.TO)

205.63

+2.26 (1.11%)

as of Aug 21, 2026, 8:00:00 pm Market Open.

979 watching

Investor Insights

Aug 23, 2026, 12:00 am

This summary was created by AI, based on 67 opinions in the last 12 months.

Shopify Inc. has garnered mixed reviews from experts regarding its performance and valuation. While many acknowledge its strong business model and potential for growth, especially with the integration of AI into its services, concerns about its inflated valuation persist. The stock showcases impressive revenue growth, with recent quarterly earnings reporting a substantial increase, yet the high price-to-earnings ratio raises apprehensions among analysts about potential market corrections. Experts emphasize the company's unique position in the e-commerce ecosystem and its resilience despite economic challenges; however, they caution that the prevailing high valuation leaves limited room for errors. Overall, while Shopify is viewed as a significant player in the tech and e-commerce space, the investment sentiment is tempered due to its high price relative to earnings and growth expectations.

Consensus

Mixed

Valuation

Overvalued

Similar

MSTE,MSFT

PAST TOP PICK

(A Top Pick Nov 01/19, Up 239%) Trimmed a bit, but still owns a lot of it.

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WEAK BUY

Another "build it and they will come" stock. Revenue has to grow 8-fold to justify the current valuation. Narrative is very positive. Illustration of the market mindset where new-economy stocks are treated very differently than those in old industries. Lot of expectation for things to go right. Short term, a great story. Continued positive upside momentum.

WATCH

Sadly, he got stopped out of this, then the stock zoomed up. They've done a great job and the pandemic has really helped them, feeding demand. It's now very expensive. It needs to produce a lot of cash flow to justify the current valuation. Mind you, Amazon started like this and went on to do very well.

BUY ON WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. It pulled back nearly $200 in four days so it is a good time to add to holdings. It will likely see a bounce in the near term. Unlock Premium - Try 5i Free

DON'T BUY

A Canadian proxy for Amazon? No. He prefers tech stocks with predictable income streams, not like Shopify which is trading at more than 20x revenue. Investors are paying for growth expected in 2-4 years. Shopify enjoys a strong tailwind and has done a great job, but its valuation is way too high.

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Curated by Allan Tong since 2019.
99+ opinions with 4.15 rating.

TOP PICK

Shopify PE 540.57 As proud Canadians, we admire Shopify, the undisputed whiz kid of e-commerce that has capitalized on the lockdown by nearly tripling its stock price this year. However, investors are banking too highly on the future. Last week, analysts John Zechner and Bruce Campbell both considered the stock overbought. Zechner stressed that valuations matter. Greg Newman advises picking this up below $1,000. We agree. As for Microsoft, Google and Facebook, not to mention Amazon and Netflix, those are only slightly overbought and have a place in any portfolio. Demand for their services will remain strong. Hold, if you own them, and add on weakness.

BUY ON WEAKNESS

A well-run company headquartered in Ottawa. They don't have to pay a premium for software talent. All their activities have been executed well. There is a large market they can expand into. In a long-term basis, it is expected to continue to grow at a good rate. If there is a 20% pull-back from the peak, it is a good buying opportunity.

COMMENT

He is a value investor and he does not believe the criteria are met for either. To play momentum, it is another game. As these companies mature, they will trade at normal PEs.

DON'T BUY

Don't get into it at this point. Tremendous growth story, great numbers. The valuation is beyond excessive. At a point, valuations matter. The price is already reflecting its future growth. Better names would be CGI or Open Text, rather than chasing the high flyers.

COMMENT

The large tech stocks are overbought. SHOP has helped lift the TSX with its significant move, triggered by the lockdown and COVID as more retailers flock online to sell. This trend won't vanish. Shopify has been expanding into financing, which offers higher margins. He owned this in the past. Over time, the business will expand and grow. He wouldn't be surprised to see a pullback in Shopify and other large tech stocks. You can buy a partial position now then add on weakness. If you already own say 5%, take sell 1%, then buyback that 1% on a pullback.

PAST TOP PICK

(A Top Pick Aug 14/19, Up 179%) Brick and mortar retailers are rapidly migrating online and COVID accelerated this trend. The blew away recent earnings. He sees 300% EPS growth. Bad news: it's super pricey now at 275x 2022 or 37x EV-to-revenue vs. 16x by peers. Buy at $900-1000, not now. It's a must-own name though.

PARTIAL SELL

There are good stocks and good companies. Still not making money, trading at 40x sales. Beneficiary of the pandemic and stay at home trend. But don't think it's going to keep going. Dangerous. The first time there's a miss, there will be a big miss in the stock. If you've held it for a while, he'd take profits.

BUY

Allan Tong’s Discover Picks A Shopify bull and bear recently meet on a patio over drinks: Bull: This stock is on steroids! Crazy momentum. A ginormous homegrown success. With brick-and-mortar flocking online, Shopify can only benefit and continue to surge. Read Top 5 Canadian Tech Stocks (DOCKS): Can they skyrocket like the FAANGs? for our full analysis.

DON'T BUY

They are really delivering, and are stealing some shares from Amazon. Management is good. It's a huge success story in Canada. As a conservative investor, he would need to see higher growth continue for many years to justify its current valuation. He can see reason to be bullish but he would not personally buy it right now. He prefers stocks with a larger margin of safety.

DON'T BUY

Great Canadian growth story. E-commerce is a growing trend, and Covid accelerated this growth. Too expensive a valuation for her. A lot of good news and growth is already embedded in the stock price.

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