SHOP Shopify Inc. Class A subordinate voting shares
In the buy zone
Price is sitting on the lower trend line — the level that has repeatedly held.
- Lower line today
- US$124.52
- Upper line today
- US$233.00
- Position in channel
- -7%
- Trend
- Rising channel
Price history, with the path projected 3 months forward
- Daily close
- Upper trend line
- Lower trend line
- Projected 3 months
Suggested path
Buy at or below
US$109.89
level as at 19 Aug 2026
Target
US$116.49
by 12 Sept 2026
Projected move
6.0%
gross, before costs
The lines are drawn where this stock has actually turned: 6 touches on the ceiling, 4 on the floor, each fitted to the slope that catches the most of them. Buying one average daily range below its 50-day mean, while it is still above its 200-day mean, and taking 6% has come up 783 times, 64% of them reaching the target, typically in 24 days, with price going about 7% against the entry at worst (35% in the worst case). This stock has not traded long enough to choose a plan of its own, so the levels come from the market-wide rule — derived on eight unrelated tickers and then confirmed on 87 others it was never fitted to, where it reached target 64% of the time. Treat it as the general setup applied here, not as this stock’s own record. On this stock the setup has come up 7 times so far, reaching target 86% of the time — too few to mean much on its own.
On this stock's own history these rules produced 3 settled calls, of which 3 reached target (100%), with an average best move of 7.1%. See the full record.
- Upper line touches
- 6
- Lower line touches
- 4
- Fit confidence
- 51%
- Fitted
- 2 Aug 2026
About Shopify Inc.
Shopify Inc. functions as a premier commerce technology company, providing an extensive platform and associated services to empower businesses worldwide. Its reach extends across Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific region, and Latin America. The company's robust platform equips merchants to effectively display, organize, market, and sell their merchandise through a multitude of sales avenues. These include digital storefronts accessible via web and mobile, traditional brick-and-mortar stores, temporary pop-up locations, integrated social media channels, proprietary mobile applications, embeddable "buy buttons," and established online marketplaces. Beyond sales, the platform streamlines crucial business operations such as product and inventory management, order and payment processing, fulfillment and shipping logistics, attracting new customers and fostering client relationships, product sourcing, analytical reporting, financial administration encompassing cash, payments, and transactions, and facilitating access to working capital. Additionally, Shopify offers supplementary services like the sale of custom website themes and applications, alongside domain name registration. Its merchant-focused solutions also cover payment acceptance, efficient shipping and order fulfillment, and aid in securing necessary operating funds. Founded in 2004 under the initial name Jaded Pixel Technologies Inc., the company officially rebranded to Shopify Inc. in November 2011. Its global headquarters are located in Ottawa, Canada.
- Sector
- Technology
- Industry
- Software - Application
- CEO
- Tobias Lutke
- Employees
- 7,600
- Country
- CA
Scorecard
Our own pillar scores, computed from the fundamentals below. They are not Morningstar ratings — that data is licensed and we do not redistribute it.
- Valuation
- 0/100
- Profitability
- 38/100
- Financial health
- 66/100
- Cash generation
- 32/100
Key statistics
- Market cap
- US$152.02B
- Enterprise value
- US$150.35B
- Beta
- 2.58
- Avg volume
- 10.47M
- Revenue per share
- 9.49
- Dividend yield
- 0.00%
- 52-week range
- 94-182.19
- Exchange
- NASDAQ
Key ratios
- P/E (TTM)
- 113.74
- PEG
- -6.72
- Price / sales
- 12.29
- Price / book
- 12.17
- EV / EBITDA
- 256.56
- Gross margin
- 47.97%
- Operating margin
- 13.32%
- Net margin
- 10.77%
- Current ratio
- 6.20
- Quick ratio
- 6.20
- Debt / equity
- 0.01
- Interest cover
- 0.00
Income statement
| Year | Revenue | Gross profit | Operating income | Net income | EPS |
|---|---|---|---|---|---|
| 2025 | US$11.56B | US$5.55B | US$1.47B | US$1.23B | US$0.94 |
| 2024 | US$8.88B | US$4.47B | US$1.07B | US$2.02B | US$1.55 |
| 2023 | US$7.06B | US$3.52B | -US$1.42B | US$132.00M | US$0.10 |
| 2022 | US$5.60B | US$2.75B | -US$822.00M | -US$3.46B | -US$2.73 |
| 2021 | US$4.61B | US$2.48B | US$268.64M | US$2.91B | US$2.27 |
Balance sheet
| Year | Total assets | Total liabilities | Total equity |
|---|---|---|---|
| 2025 | US$15.19B | US$1.72B | US$13.47B |
| 2024 | US$13.92B | US$2.37B | US$11.56B |
| 2023 | US$11.30B | US$2.23B | US$9.07B |
| 2022 | US$10.76B | US$2.52B | US$8.24B |
| 2021 | US$13.34B | US$2.21B | US$11.13B |
Cash flow
| Year | Operating cash flow | Free cash flow | Net income |
|---|---|---|---|
| 2025 | US$2.03B | US$2.01B | US$1.23B |
| 2024 | US$1.62B | US$1.60B | US$2.02B |
| 2023 | US$944.00M | US$905.00M | US$132.00M |
| 2022 | -US$136.00M | -US$186.00M | -US$3.46B |
| 2021 | US$535.71M | US$484.92M | US$2.91B |
EPS forecasts
| Period | Est. EPS | Est. revenue | Analysts |
|---|---|---|---|
| 2025 | US$1.46 | US$11.55B | 26 |
| 2026 | US$1.85 | US$14.72B | 26 |
| 2027 | US$2.35 | US$18.22B | 27 |
| 2028 | US$3.18 | US$22.87B | 11 |
| 2029 | US$3.49 | US$26.57B | 4 |
| 2030 | US$4.15 | US$31.28B | 4 |
Analyst view
- Target (mean)
- US$154.00
- Target (high)
- US$191.00
- Target (low)
- US$126.00
- Strong buy
- 0
- Buy
- 42
- Hold
- 19
- Sell
- 3
Trend lines are fitted statistically to past swing highs and lows and projected forward on the assumption the same rhythm continues. It often does not. This is information, not advice.