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

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Shopify Inc. (SHOP.TO)

236.24

-0.17 (0.07%)

as of Oct 23, 2026, 8:00:00 pm Market Closed.

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It's a Monthly Gems opinion which is available only for Stockchase Premium

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

TOP PICK

Hands down, Shopify was the success story in Canadian tech and the entire TSX in 2020. We applaud them. After Covid, online retailing will endure, but it's a fair question to ask how a return to store shopping in 2021 with effect e-commerce, including Shopify which provides these platforms for merchants. Another concern is SHOP's P/E hovering just below 1,000x.

DON'T BUY

Valuations matter to him and this trading at 25x revenue. Yes, their model is working and maybe every small retailer in the world will use their platform. It's a great company, but not sure if it's a great stock. Remember the 1999-2000 tech bubble when stocks were too far of their valuations.

HOLD

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The stock saw a sharp sell-off but there was no company news. The recent spike was pretty dramatic, with a $112 gain yesterday so it is normal to see a bit of pullback. Support is around the $1400-1425 range. Unlock Premium - Try 5i Free

DON'T BUY

It is expensive. It is trading at 50 times revenues. Next year they are expected to grow 30%. They are the most capitalized company in Canada. Their main competitor is AMZN-Q and they are ten times larger. It might go sideways for a while because of the discounting of future earnings.

PAST TOP PICK

(A Top Pick Dec 11/19, Up 204%) At the time, he thought they could become a ubiquitous global provider. You want to be buying when other people aren't. Covid has really helped them. They made nice acquisitions. Added around $1200 and you want to add to it over time.

BUY

Second largest e-retailer behind Amazon. Online shopping has accelerated with Covid, and we're not going back. Very bright future. Expensive, but the stakes are big. Consolidating since June, and not far from breaking out to new highs. He'd buy here.

DON'T BUY

The valuation is really sky high right now. They are a competitor to AMZN-Q. It is discounting years of growth into the future. You can't justify any further upside.

PAST TOP PICK

(A Top Pick Dec 11/19, Up 144%) Put a bit more money to work yesterday on the dip. A must-own name. Appreciate the chart and how extended it is, and try to buy at lower levels.

HOLD

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. It’s normal to see some investors sell on positive vaccine news. The company has benefitted from online shopping during the pandemic. No reason to react right now. Unlock Premium - Try 5i Free

BUY

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The TikTok partnership is perfect timing, just before shopping season. They get access to more than one million merchants, and investors like it. It should ensure Shopify’s high growth rate. Unlock Premium - Try 5i Free

DON'T BUY

Pandemic has helped all the e-commerce names. But valuation worries him, at 500x forward earnings. Sales growth will be strong. Paying a premium for this name.

BUY ON WEAKNESS

Billy Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. The company has performed well and is now expensive. Investors need to be comfortable with a certain level of volatility. It has a large market and plenty of room to grow still. Patience is required for this name. Unlock Premium - Try 5i Free

PAST TOP PICK

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

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.

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Shopify Inc. (SHOP.TO)

It's a Monthly Gems opinion which is available only for Stockchase Premium