SHOPIFY INC - CLASS A (SHOP.CA) Forecast, Price Target & Analyst Ratings

TSX:SHOP • CA82509L1076

Current stock price

165.06 CAD
+9.64 (+6.2%)
Last:

Analyst forecast overview

View the latest analyst price targets, stock forecast, EPS estimates, revenue projections, revisions, full estimates, rating distribution and upgrades/downgrades for SHOPIFY INC - CLASS A (SHOP.CA).

Forecast Snapshot

Consensus Price Target

Price Target
CA$224.63
+ 36.09% Upside
→ Price target details

Next Earnings Forecast

Earnings Estimate
Release Date
May 6, 2026
Period
Q1 / 2026
EPS Estimate
$0.34
Revenue Estimate
3.143B
→ Full earnings forecast details

ChartMill Buy Consensus

Rating
78.18%
Weighted Analyst Rating Score
→ Analyst Ratings details

Price Target Details & History

Consensus Price Target and Range

Mean target
CA$224.63
Upside
+ 36.09%
From current price of CA$165.06 to mean target of CA$224.63, Based on 55 analyst forecasts
Low
CA$152.20
Median
CA$223.58
High
CA$316.46

Price Target Revisions

1 Month
0.00%
3 Months
-8.39%

Price Target Summary

55 Wall Street analysts provided a forecast for the next 12 months for SHOP.CA. The average price target is 224.63 CAD. This implies a price increase of 36.09% is expected in the next year compared to the current price of 165.06.
The average price target has been revised downward by 8.39% in the past 3 months.
→ Find peer stocks trading 30% below analyst price target

Analyst Ratings & History

Current Analyst Ratings

SHOP Current Analyst RatingSHOP Current Analyst Buy, Sell and Hold Ratings.Current Analyst Rating Strong Buy Buy Hold Sell Strong Sell 10 20 30

Analyst Ratings History

SHOP Historical Analyst RatingsSHOP Historical Analyst Buy, Sell and Hold Ratings and number of analysts.Historical Monthly Analyst Rating -19 -17 -15 -13 -11 -9 -7 -5 -3 -1 10 20 30 40 50

Analyst Ratings Consensus

ChartMill Buy Consensus
78.18%
SHOP.CA was analyzed by 55 analysts. The buy percentage consensus is at 78. So analysts seem to be have mildly positive about SHOP.CA.
In the previous month the buy percentage consensus was at a similar level.
SHOP.CA was analyzed by 55 analysts, which should be a sufficient number of analysts to have a meaningful average consensus rating.
→ Find peer stocks with a buy consensus above 85%

Recent Upgrades & Downgrades

DateFirmActionFrom → To
2022-11-24STA ResearchUpgrade Buy
2022-10-28TD ResearchUpgrade Hold
2022-08-05STA ResearchUpgrade Buy
2022-08-03MorningstarMaintains Hold
2022-07-28TD ResearchDowngrade Hold
2022-07-28ATB CapitalDowngrade
2022-07-21MorningstarDowngrade Hold
2022-07-18STA ResearchMaintains Buy
2022-07-18Piper SandlerDowngrade Neutral
2022-06-30National Bank of Canada FinancialInitiate Outperform
2022-06-30MorningstarUpgrade Buy
2022-06-09MorningstarInitiate Hold
2022-05-31MorningstarMaintains Hold
2022-05-31STA ResearchReiterate Buy
2022-05-06RBC RoyalbankDowngrade Outperform
2022-05-06National Bank of Canada FinancialDowngrade Outperform
2022-05-06TD ResearchDowngrade Hold
2022-05-06MorningstarMaintains Hold
2022-04-25RBC RoyalbankDowngrade Outperform
2022-04-25STA ResearchDowngrade Buy
2022-03-17Zacks Investment ResearchMaintains Hold
2022-03-17MorningstarMaintains Hold
2022-03-09MorningstarMaintains Buy
2022-03-09STA ResearchUpgrade Strong Buy
2022-02-17Deutsche Bank CapitalDowngrade Hold

Next Earnings Forecast Details

Next Earnings Details

Release Date
May 6, 2026
Period
Q1 / 2026
EPS Estimate
$0.34
Revenue Estimate
3.143B
Revenue Q2Q
33.18%
EPS Q2Q
35.29%
Number of Analysts
38

Next Earnings Revisions

Revenue (1 Month)
0.00%
Revenue (3 Months)
4.42%
EPS (1 Month)
0.27%
EPS (3 Months)
2.75%

Next Earnings Summary

SHOP.CA is expected to report earnings on 5/6/2026. The consensus EPS estimate for the next earnings is 0.34 CAD and the consensus revenue estimate is 3.14B CAD.
The next earnings revenue estimate has been revised upward by 4.42% in the past 3 months.
→ Find peers expecting at least 20% revenue growth next quarter

Full Analyst Estimates 2026 - 2033

Yearly Earnings Per Share (EPS), Revenue, EBIT, EBITDA and Operating Margin Analyst Estimates

2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Revenue
YoY % growth
SHOP.CA revenue by date.SHOP.CA revenue by date.
7.06B
26.07%		8.88B
25.78%		11.556B
30.14%		14.944B
29.32%		18.485B
23.70%		22.984B
24.34%		26.935B
17.19%		32.074B
19.08%		38.196B
19.09%		45.289B
18.57%		53.617B
18.39%
EBITDA
YoY % growth
SHOP.CA ebitda by date.SHOP.CA ebitda by date.
30M
105.45%		1.111B
3,603.33%		1.512B
36.09%		2.737B
81.02%		3.628B
32.55%		5.663B
56.09%		6.427B
13.49%		8.201B
27.60%		N/AN/AN/A
EBIT
YoY % growth
SHOP.CA ebit by date.SHOP.CA ebit by date.
-40M
93.76%		1.075B
2,787.50%		1.481B
37.77%		2.651B
79.00%		3.457B
30.40%		5.054B
46.20%		5.295B
4.77%		6.648B
25.55%		8.732B
31.35%		10.992B
25.88%		N/A
Operating Margin
SHOP.CA operating margin by date.SHOP.CA operating margin by date.
-0.57%12.11%12.82%17.74%18.70%21.99%19.66%20.73%22.86%24.27%N/A
EPS
YoY % growth
SHOP.CA eps by date.SHOP.CA eps by date.
0.73
1,725.00%		1.20
64.38%		1.42
18.33%		1.85
30.08%		2.37
28.36%		3.34
41.01%		3.48
4.03%		4.21
21.11%		4.46
5.93%		5.37
20.34%		6.72
25.17%

All data in USD

Quarterly Earnings Per Share (EPS), Revenue, EBIT and EBITDA Analyst Estimates

Q1 / 26 Q2 / 26 Q3 / 26 Q4 / 26 Q1 / 27 Q2 / 27 Q3 / 27 Q4 / 27 Q1 / 28 Q2 / 28 Q3 / 28 Q4 / 28
EPS
Q2Q % growth		0.34
35.29%		0.40
14.22%		0.46
34.30%		0.65
35.72%		0.44
30.39%		0.51
27.72%		0.58
27.03%		0.81
24.84%		0.56
27.60%		0.68
32.64%		0.74
28.13%		1.00
23.46%
Revenue
Q2Q % growth		3.143B
33.18%		3.462B
29.18%		3.635B
27.81%		4.674B
27.29%		3.841B
22.21%		4.236B
22.36%		4.439B
22.12%		5.665B
21.20%		4.671B
21.61%		5.191B
22.54%		5.405B
21.76%		6.829B
20.55%
EBITDA
Q2Q % growth		479.98M
127.48%		575.75M
81.62%		672.2M
81.68%		986.7M
49.05%		619.52M
29.07%		767.68M
33.34%		883.29M
31.40%		1.243B
25.98%		959.01M
54.80%		1.175B
53.06%		1.344B
52.16%		1.87B
50.44%
EBIT
Q2Q % growth		475.37M
134.17%		562.61M
86.91%		645.59M
86.59%		971.1M
53.90%		643.35M
35.34%		757.68M
34.67%		884.16M
36.95%		1.291B
32.94%		822.37M
27.83%		1.007B
32.91%		1.139B
28.82%		1.58B
22.39%

All data in USD

Yearly Earnings Per Share (EPS) and Revenue Trends vs Historical Data

SHOP.CA Yearly Revenue VS EstimatesSHOP.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 10B 20B 30B 40B 50B
SHOP.CA Yearly EPS VS EstimatesSHOP.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 0 2 4 6

Long Term Forward Growth Forecast Summary

Long Term EPS Growth (CAGR)

EPS Next 3 Year
33.03%
EPS Next 5 Year
24.29%

Long Term Revenue Growth (CAGR)

Revenue Next 3 Year
25.21%
Revenue Next 5 Year
22.33%

Long Term EBIT Growth (CAGR)

EBIT Next 3 Year
42.94%
EBIT Next 5 Year
33.43%
→ Find peers expecting at least 20% CAGR revenue growth over the next 3 years

SHOPIFY INC - CLASS A / SHOP.CA Forecast FAQ

What is the average price target for SHOPIFY INC - CLASS A (SHOP.CA) stock?

55 analysts have analysed SHOP.CA and the average price target is 224.63 CAD. This implies a price increase of 36.09% is expected in the next year compared to the current price of 165.06.

What is the next earnings date for SHOP stock?

SHOPIFY INC - CLASS A (SHOP.CA) will report earnings on 2026-05-06, after the market close.

What are the consensus estimates for SHOPIFY INC - CLASS A (SHOP.CA) next earnings?

The consensus EPS estimate for the next earnings of SHOPIFY INC - CLASS A (SHOP.CA) is 0.34 CAD and the consensus revenue estimate is 3.14B CAD.

What is the expected long term growth rate for SHOPIFY INC - CLASS A (SHOP.CA)?

The expected long term growth rate for SHOPIFY INC - CLASS A (SHOP.CA) is 25.21%.