Shopify Inc.
SHOP · NASDAQ
Company research
Shopify Inc. (NASDAQ: SHOP) is a leading commerce technology company headquartered in Ottawa, Canada, that provides a comprehensive platform and suite of services enabling businesses of all sizes to start, scale, market, and run their operations across the globe. Founded in 2004 and publicly listed in May 2015, the company serves millions of merchants across 175+ countries, offering tools that span web and mobile storefronts, physical retail, social media channels, and online marketplaces, all supported by integrated capabilities for inventory management, payment processing, order fulfillment, and analytics. Shopify generates revenue through two primary segments — Subscription Solutions, which includes tiered monthly plans ranging from basic to enterprise-grade Shopify Plus, and Merchant Solutions, which encompasses value-added services such as Shopify Payments, Shopify Shipping, Shopify Capital, and its expansive app marketplace. Under the leadership of co-founder and CEO Tobias Lütke, Shopify has grown into the largest e-commerce platform in the United States by market share, processing over $235.9 billion in gross merchandise volume in 2023 alone, with a current market capitalization exceeding $154 billion.
Research reports
Ultra Stock Analysis Pro · May 8, 2026Shopify Inc. (SHOP) – ANALYST REPORT (Top Earnings Weekly UEW 20260503)
Quantitative technical-and-fundamental report assigning a HOLD rating, noting about 39% upside to the $153.42 analyst consensus target, roughly 34% revenue growth and 74% institutional ownership, but recommending that investors maintain positions and only add when stronger technical confluence signals appear, reflecting a balanced, risk-aware stance.
EarningsGrade · April 5, 2026Shopify (SHOP) 2025 — M-Score Grey Zone, $5.8B Cash FortressForensic accounting review of Shopify’s 2025 10‑K that assigns a Grade C, highlighting 30% revenue growth, strong operating and free‑cash‑flow performance and a very high Altman Z‑Score alongside volatile GAAP net income driven by investment portfolio swings, rising receivables and sharply higher transaction and loan losses, concluding that investors should focus on operating income and cash flow while treating these red flags as reasons for heightened scrutiny rather than outright avoidance.
Ultra Stock Analysis Pro · February 15, 2026Shopify Inc. (SHOP) – ANALYST REPORT (Top Earnings Weekly UEW 20260208)Quant-driven analyst report with a STRONG BUY rating, citing about 45% upside to the $163.60 consensus target, around 30% year‑over‑year revenue growth, solid profitability metrics and roughly 73% institutional ownership, while advising that capital be deployed once stronger technical confluence signals emerge and outlining competition, regulatory changes and high beta as key risk factors to manage.
ValuationBot.ai · November 5, 2025Shopify Inc. (SHOP)Deep intrinsic‑value report using a detailed DCF, reverse‑DCF and scenario analysis to argue that Shopify is dramatically overvalued at about $165–166 per share, estimating fair value around $24 and implying 80–85% downside based on an expectation of high‑teens revenue growth, lower sustainable net margins and sub‑1.0x sales‑to‑equity versus the market’s much more optimistic assumptions, while acknowledging that faster AI‑driven monetization, stronger enterprise wins and aggressive buybacks are material upside risks to this Strong Sell thesis.