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

Shopify Inc. (SHOP.TO)

215.86

+3.76 (1.77%)

as of Oct 2, 2026, 8:00:00 pm Market Open.

979 watching

DON'T BUY

Reticence in owning today is the expensive valuation, of about 20x forward earnings. Profitability is still elusive. Concern about liberal use of executive stock options, which amounts to about 10% of revenue. Great company, not a great stock. He prefers Open Text.

BUY

It is one of the most expensive stocks on the face of the earth but it is also one of the fastest growing stocks on the earth. He sold half his position. He believes the outlook for their business is great and that it will translate into their stock. You want to diversify the risk in these stocks amongst three or four. Once the revenue growth drop off this stock will really pull back.

DON'T BUY

17 times revenues. He is short a bit of it. It is a great Canadian success story but the valuation is insane.

PARTIAL SELL

What a stock, going after AMZN-Q. There was a surge in December and the point of resistance is about $550. When it gets there it does not mean we should get out of it. There is a double top. He has had to trim in some portfolios because it has gone up so much. He is not worried about it.

TOP PICK

The gift you put into your Christmas stocking. Very expensive trading at a high PE and price to sales. On Q3 their revenues were up 45% and online merchants have exceeded 1 million. They are growing loans to their merchants to over $145 million. They are modelling 350% earnings per share growth into 2021. (Analysts’ price target is $467.09)

BUY

A fantastic company, expanding to become the full-service solution for e-businesses. Their revenue growth has been nosebleed high year after year; you'll never see a cheap valuation. You won't be comfortable buying this, but it will continue to grow strong.

BUY

A Canadian tech to buy? SHOP has rebounded back into the mid $450s, he would consider this one.

BUY

The momentum is clearly in your favour here. This year it became parabolic, overbought, then consolidated and now is breaking out again in a classic technical pattern. Has support in its 200-day moving average. Momentum is still positive.

COMMENT

They did huge business over American Thanksgiving which accounts for the recent spike. But it isn't proven in profitability, so he doesn't own it. Sure, he missed the huge run-up, but will miss the huge drop (if that comes). Are you into speculative stocks or more predictable ones with flatter returns?

DON'T BUY

It’s been a great growth story. He feels that the valuation multiple is very large and this comes with big expectations. At these levels, he wouldn’t start a position here.

BUY

Off its 52-week highs. He's a big fan, but got stopped out. Pretty hard to take on the incumbent, Amazon. Shopify executing well, relentless R&D. They've become the full one-stop shop. Be careful, as it's a bit more volatile. Has really good runway. Will probably have a powerful December.

DON'T BUY

Has never held it. Valuation is high. Try entering at the 200-day moving average. They deal in the small to medium space, so will get hit harder in any slowdown. For tech, he usually looks to the US for Visa, Mastercard.

PAST TOP PICK

(A Top Pick Oct 01/19, Up 3%) It's had a strong run this year, but has pulled back since August. It will re-test the bottom of around $400, but he's confident it will rally again. He likes it. But if this shows lower lows, he will reduce exposure.

COMMENT

He has built up a position in the US holding. His price target is $375 US. A recent share offering diluted the shares, but now it trades at $4 billion below enterprise value. He has a 3.5% holding in his portfolio.

DON'T BUY

Benefits from e-commerce. Nothing wrong with this, but the valuation and stock price are very high. The current pullback amounts to the stock getting ahead of itself. Also, they did an equity issue in mid-September which helped pressure the stock price.

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Shopify Inc. (SHOP.TO)