Shopify stock
SHOPNASDAQShopify Inc., TechnologyISIN CA82509L1076
68Score 68 out of 100, Neutral
Price and trend
63 / 100
Price history
−6.3% in one yearThe chart shows daily closes over 11 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Above the 200-day line: the price is 13% above it.
Since August 2026 the 50-day line has been above the 200-day line; the trend has turned up.
Normal: the price is neither overheated nor sold off (RSI 34).
The price is 18% below its 52-week high. Largest decline in 11 years: 85% (November 2021 to October 2022).
Chart figures for advanced users
- SMA 50$152.77
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$130.16
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)34
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDbelow the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$95.40
- The lowest closing price of the last twelve months.
- Resistance$179.22
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- Shopify Inc. belongs to the Software (Application) industry (Canada) and, with a market value of $188.84B, is number 2 of 189 companies in its industry on MEQIRI.
- In fiscal 2025 it reported revenue of $11.56B (up 30.1% year on year) and earnings of $1.23B (down 39%).
- For fiscal 2026, analysts expect on average revenue of $15.28B (up 32.2%) and adjusted earnings per share of $1.89 (up 35.1%).
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- MEQIRI Score 68 out of 100 (Neutral): rank 277 of 857 in Technology, median 61.
- The P/E is 89.1 (Software (Application) median 30.8, own median of recent years 68.2).
- Our model puts fair value at $76.61, with the price 95% above it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
- Growing faster than its industryRevenue up 31.6% a year since 2020, Software (Application) median 17.3%.Growth 100
- Earnings per share growingUp 28.6% a year since 2020.Growth 100
- More cash than debtCash $4.73B, financial debt $188M.Stability 80
Weaknesses
- Richly valuedP/E 89.1, Software (Application) median 30.8, own median 68.2.Valuation 17
- Above fair valuePrice 95% above the fair value of $76.61.Valuation 17
- Volatile share priceVolatility 60% a year over the last 12 months.
Its standout strengths are growth and profitability, while valuation holds the score back.
Daily figure as of 12 Nov 2026
How the score is calculatedScore overview
The fundamentals are in the middle range.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk high
How well MEQIRI warnsOne of the 30% with the highest crash risk among the 100 largest stocks.
From 2016 to 2025, 17 in 100 such stocks fell 30% or more within a year, against a group average of 9 in 100.
What drives the risk
- high growth grade (crashed more often in the backtest)
Valuation
Valuation signal
Significantly overvaluedClosing price of 11 Nov 2026, used by the daily score.
In our model the price counts as cheap below $54.72 and expensive above $127.69 (uncertainty high, based on the price swings of the past year).
The two parts of the fair value come to $102.56 (cash-flow model) and $50.67 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is above both.
Calculated with a cost of equity of 9.2%. At 10.2% the fair value would be $67.54, at 8.2% it would be $89.90.
Valuation metrics
Half from the cash-flow model, half from earnings times the industry P/E (30.8).
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue rose 32.5% on the twelve months before. Revenue has grown strongly since 2012, at around 61% per year.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 48%, operating 13%, net 11%.
Debt & balance sheet
latest quarterThe balance sheet is solid, with low debt and comfortable interest coverage.
Earnings
- Next earnings
- 10 Feb 2027in 90 days
- Last reported
- 3 Nov 2026EPS reported $0.49 (expected $0.46)above expectations
Analyst estimates
Earnings estimates have barely changed since 15 Oct 2026.
- Earnings per share
- $1.89+0.2%
- Revenue
- $15.28B+1.5%
- Earnings per share
- $2.44−0.4%
- Revenue
- $19.3B+1.7%
MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook confirmed
Share price after the results: +19.6%Third quarter revenue growth expected in the low 30s, gross profit dollars up mid to high 20s, operating expenses 33% to 34% of revenue.
“We expect operating expenses in Q3 to be 33% to 34% of revenue, reflecting continued leverage and meaningful improvement compared to the 37% we delivered in Q3 of last year.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 5 Aug 2026 (fiscal Q2 2026), read by AI.
Insiders
Open-market purchases and sales by executives, board members and major holders
No open-market purchases or sales in the last 6 months.
Source: Form 4 filings with the US Securities and Exchange Commission. Grants, option exercises, gifts and tax withholdings are hidden. Not a recommendation to buy.
What happened at Shopify
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
857 rated companies in Technology
- This company
- 68
- Sector median
- 61
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Software (Application)
The next larger and next smaller companies by market value
- SAPSAP.DE $270.92B75
- SalesforceCRM $179.42B69
- Uber TechnologiesUBER $144.32B58
- AppLovinAPP $135.04B70
- Automatic Data ProcessingADP $120.94B82
- ServiceNowNOW $106.66B59
- SnowflakeSNOW $106.27B41
- AdobeADBE $92.47B76
ETFs that hold Shopify
Held by 74 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| Xtrackers MSCI Canada Screened UCITS ETF 1CD5BH | 6.34% | 0.35% | €1.2B |
| UBS MSCI Canada UCITS ETF CAD disUIM9 | 6.20% | 0.33% | €2.06B |
| iShares MSCI Canada UCITS ETFSXR2 | 5.66% | 0.48% | €2.15B |
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| iShares Digitalisation UCITS ETF2B79 | 3.53% | 0.40% | €726.22M |
| L&G Artificial Intelligence UCITS ETFXMLD | 1.96% | 0.49% | €1.96B |
| L&G Ecommerce Logistics UCITS ETFETLH | 1.89% | 0.49% | €62.57M |
| WisdomTree Cloud Computing UCITS ETF USD AccWTEJ | 1.57% | 0.40% | €300.71M |
| Amundi S&P World Information Technology Screened UCITS ETF AccWELU | 0.90% | 0.18% | €1.5B |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 12 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 31 Oct 2026)
- Valuation signal Overvalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.