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

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Shopify Inc. (SHOP.TO)

153.74

+1.03 (0.67%)

as of Jun 18, 2026, 8:00:00 pm Market Open.

983 watching

Investor Insights

Jun 19, 2026, 12:00 am

This summary was created by AI, based on 63 opinions in the last 12 months.

Shopify Inc. (SHOP) is a prominent player in the Canadian tech landscape, facing both praise and skepticism from several experts. While many recognize the company's innovative edge and its increasing adoption of AI, concerns about its high valuation persist, particularly given its volatility and reliance on small to medium-sized businesses that may be more vulnerable to economic fluctuations. Analysts have expressed mixed views; some see favorable entry points for long-term growth, while others caution against entering due to its lofty price-to-earnings ratio. Overall, Shopify's growth trajectory remains attractive, with the potential for significant upside, yet its current valuation, perceived risks related to e-commerce dynamics, and broader market sentiment towards tech stocks leave investors divided on the right approach to take. The consensus seems to suggest a cautious stance with a focus on entry points and potential for monitoring breakouts.

Consensus

Cautious

Valuation

Overvalued

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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.

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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.

BUY ON WEAKNESS

He picked this up back in March with a price target of $575 US and sold it 9 weeks later at $645 US and it has continued up since. They have a great runway in other verticals they can get into. The exponential growth is still in the early phases. This is almost like Tesla back a few years ago when it rocketed up and people were skeptical. If the market pulls back into $800 CAD, he would definitely buy it.

BUY ON WEAKNESS

The greatest Canadian tech story. Exciting. He bought it three years ago and has done very well. Innovative and in the right spot, e-commerce. The share price today is discounting a lot of long-term growth. It's had a great rally, but doubts it can perform as well in the future. Wait for the next 20-30% pullback and buy a partial position.

BUY ON WEAKNESS

People are bidding up the stock and giving full valuation to the price. He wonders where the fundamentals are going to come to support the share price. When it will have a draw down it will be big!

DON'T BUY

3200x forward PE. Blended 12-month PE is still 1800x earnings. Has done well, but expensive. Pandemic has fast-forwarded the push for e-commerce by 10 years. Growth rate and earnings look as though they'll be strong. Other names give you more quality and value. Tricky to buy it at this level.

WATCH

A cloud based commerce platform for small and medium sized businesses. An alternative to Amazon. Interesting to watch, but the valuation is very expensive -- 50 times forward sales. Momentum investors are the likely ones trading it now.

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SELL

Why the recent run-up? A wunderkind stock in focus during the pandemic. The business is excellent, but the stock is not at current prices. He bought and sold this a while ago. He scratches his head now--high expectations and high valuations. Earnings--they don't make any money. Too rich for his blood. He'd sell it.

DON'T BUY

They did tremendously well from a stock price perspective. They are extremely expensive. He prefers others.

HOLD

Post-pandemic? He does not own this -- he wishes he did. SHOP is in a sweet spot -- helping companies build their online presence. This will not slow down as companies will have to get to there in the future. The big issue for them is getting into logistics. This will be a big cost spend for them, but he does not think it changes the dynamic of their success. The trend to online shopping growth will continue.

DON'T BUY

Valuation is a problem for him. 2372x is their foward PE at a 46% growth rate. Shopify caters to small/medium businesses, which are most vulnerable to a second wave.

DON'T BUY

He has not owned this one. It has been amazing but its valuation is not based on earnings, future or present. They benefited from everyone shopping on line and he thinks they will lose some steam coming out of this. LSPD-T might be a better stock going forward but be does not play in either of them.

TOP PICK

It has already rising over 160% this year. Its time is now. He likes how analysts see this on an Amazon type of trajectory, with revenues about to soar. They are partnering with Facebook. It is exploring entering into commercial payments beyond the mom and pop type entities he thinks. Yield 0% (Analysts’ price target is $715.11)

COMMENT

Canadian tech? OTEX and SHOP would be good Canadian tech companies, along with CSU. All well situated for the cloud and e-commerce. He expects to see a market correction, so would wait for lower pricing.

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