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

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MSTE,MSFT

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.

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.

BUY ON WEAKNESS

He does not own it as it hit his price target, so he took profit of over 50%. He regrets it today. Their recent earnings, reported today, were $0.19 EPS versus expectation of $0.09. They still have a long runway as they are entering into international markets. He would look to buy back in in the $400s range.

BUY ON WEAKNESS

He owns this now and it has rocketed up in the past few weeks. They have been allowing vendors to receive some short term financing to help them stay in business. It is now the second largest company on the TSX this means a constant buying presence. For new investors, he would be mindful about this fact and suggest caution chasing the momentum.

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Curated by Allan Tong since 2019.
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TOP PICK

Shopify remains a buy for many Bay Streeters. Volatile, yes? Sky-high PE, you bet. Unaffordable for some retail investors, yup. But during the lockdown of the past month, Shopify has kept pace with the TSX and beaten it in the past five days and three months. The best argument, says tech analyst Kim Bolton, are its tremendous international opportunities and momentum. Other analysts such as Gerard Ferguson advise picking away at it during pullbacks. Trading at just over $500, Shopify now sits around its 200-day moving average of $519 and is roughly in the middle of its 52-week high-low range. Since the pandemic struck through March 7, Shopify has closed below $500 only five days.

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