Is Shopify stock a buy right now?
As of April 30, 2025, Shopify’s shares are trading near $93.97 USD on the TSX, with a robust average daily trading volume of 11.26 million shares—a testament to the market’s ongoing enthusiasm for Canada’s flagship technology stock. Shopify continues to attract attention in the information technology sector with its formidable global e-commerce platform and relentless pace of innovation. Recent highlights include the rollout of the Winter 2025 Edition, delivering over 150 platform enhancements, and the acquisition of Vantage Discovery, which is set to strengthen Shopify’s AI-driven search for merchants. The company has exceeded expectations with its latest quarterly results, posting annual revenue growth of nearly 26% and a striking 56% jump in quarterly net income, underscoring operational momentum even as it prepares to transfer its U.S. listing to Nasdaq. Market sentiment remains positive and constructive, as investors interpret Shopify’s expansion into AI-powered tools and multi-channel retail solutions as a strong foundation for future growth. The consensus target price from more than 34 national and international banks stands at $120.79 USD, reflecting confidence that Shopify’s strategy will continue to deliver. This combination of growth, innovation, and leadership makes Shopify a noteworthy consideration within Canada’s technology sector, especially for investors seeking exposure to the digital commerce transformation.
- Consistent double-digit annual revenue growth; sales rose 25.78% in 2024.
- Market leader in e-commerce infrastructure for small and large businesses.
- Ongoing innovation with 150+ platform updates and new AI-powered tools.
- Rapidly growing international footprint in over 175 countries.
- Outperformed analyst expectations for both revenue and profitability.
- High valuation with P/E ratio above 60, reflecting very strong growth assumptions.
- Elevated price volatility; stock’s beta is 2.83, higher than market average.
- What is Shopify?
- How much is Shopify stock?
- Our full analysis on Shopify </b>stock
- How to buy Shopify stock in Canada?
- Buying Shopify Stock Online: Simple and Secure
- Our 7 tips for buying Shopify stock
- The latest news about Shopify
- FAQ
Why trust HelloSafe?
At HelloSafe, our expert has been monitoring Shopify's performance for over three years. Each month, hundreds of thousands of users across Canada rely on us to interpret market trends and pinpoint the best investment opportunities. Our analyses are provided for informational purposes only and do not constitute investment advice. In line with our ethical charter, we have never been, and never will be, compensated by Shopify.
What is Shopify?
| Indicator | Value | Analysis |
|---|---|---|
| 🏳️ Nationality | Canada | Headquarters in Ottawa; strong Canadian tech success with global operations. |
| 💼 Market | Toronto Stock Exchange, NYSE | Dual-listed, providing accessibility to both Canadian and U.S. investors. |
| 🏛️ ISIN code | CA82509L1076 | Unique security identifier for Shopify shares on all global markets. |
| 👤 CEO | Tobias Lütke | Co-founder and CEO since inception; key driver of innovation and vision. |
| 🏢 Market cap | $121.59 billion USD | Indicates Shopify's major scale and status among the world’s top e-commerce platforms. |
| 📈 Revenue | $8.88 billion (2024) | Strong annual growth (+25.8% YoY) highlights ongoing demand and effective strategy. |
| 💹 EBITDA | $1.52 billion (2024) | Nearly doubled year over year, showing significant profitability improvements. |
| 📊 P/E Ratio (Price/Earnings) | 60.57 | High valuation suggests high growth expectations, but implies risk if growth slows. |
How much is Shopify stock?
The price of Shopify stock is rising this week. As of today, SHOP trades at $93.97 USD, showing a daily drop of 5.00% but an impressive 15.41% gain over the past week.
| Metric | Value |
|---|---|
| Market Capitalization | $121.59 billion USD |
| Average 3-Month Volume | 11.26 million shares |
| P/E Ratio | 60.57 |
| Dividend Yield | 0% |
| Beta | 2.83 |
With a beta of 2.83, Shopify is considered more volatile than the broader market—an important factor for investors looking to balance growth potential and risk.
Compare the best brokers in Canada!Compare brokersOur full analysis on Shopify stock
After a rigorous review of Shopify’s latest financial results and a detailed assessment of its stock price evolution over the past three years, our team synthesized a breadth of financial metrics, technical indicators, market data, and competitor trends through proprietary analytical models. The convergence of recent operational achievements, momentum signals, and the prevailing sector backdrop suggests new tailwinds for this Canadian technology leader. So, why might Shopify stock once again become a strategic entry point into the global e-commerce infrastructure sector in 2025?
Recent Performance and Market Context
Shopify has maintained its reputation as a bellwether of the e-commerce enablement landscape, propelled by robust fundamentals and a string of positive catalysts. The stock currently trades at $93.97 USD (as of April 30, 2025), reflecting a 32.85% annual gain and a 25.23% rise over six months—a testament to its resilience and capital markets appeal. Following short-term volatility, marked by a 5% daily retracement but counterbalanced by an impressive 15.41% weekly rally, Shopify has proven remarkably agile at navigating sector oscillations.
This strength is reinforced by dynamic trading activity, with an average volume of 11.26 million shares, indicative of sustained institutional and retail engagement. The broader technology sector, amid a North American economic upswing, is further emboldened by structural shifts toward digital commerce and AI-driven solutions. Notably, Shopify’s recent transition to the Nasdaq (with dual TSX listing retention), coupled with the rollout of its Winter 2025 Edition—featuring over 150 platform enhancements—showcases its adaptive prowess. The acquisition of Vantage Discovery, aimed at deepening AI capabilities, positions Shopify at the vanguard of platform innovation. These recent developments are being assessed alongside a sector consensus that anticipates e-commerce platform spending will outpace traditional retail growth through 2025.
Technical Analysis
Technical indicators affirm a favorable momentum structure for Shopify. The current RSI (14) at 57.75 is comfortably in neutral-to-bullish territory, suggesting the stock is neither overbought nor in danger of a downward overshoot. The MACD (12,26,9) delivers a positive value of 2.51, further corroborating the ongoing bullish trend emerging in the short term.
Critically, Shopify’s price position above both the 20-day and 100-day moving averages—and only modestly below the 50-day ($99.46)—reflects persistent bullish undertones, underscored by a supportive cross above its 200-day moving average ($91.72). Key support is found at the $84.49 daily trend line, with stronger secondary zones at $78.14–$79.46 and $62.26 on weekly charts. Market participants have consistently defended these levels during periods of volatility, hinting at a robust floor for further upward moves.
Conversely, the $96.99–$98.93 range is emerging as critical resistance; a decisive break above this threshold—particularly as technical catalysts align with fundamental triggers like earnings—may signal the start of a new, sustained bullish phase. The recent bullish reversal and developing short-term uptrend, juxtaposed with a longer-term neutral stance, are creating an environment ripe for opportunistic new positions.
Fundamental Analysis
From a fundamental perspective, Shopify’s latest financials reflect the hallmarks of an elite technology compounder. The company generated $2.81 billion in Q4 2024 revenue (+30.06% YoY) and an annualized $8.88 billion revenue for 2024 (+25.78% YoY). EBITDA margins expanded dramatically year-over-year to $1.52 billion for 2024 (+87.1%), and net income surged to $2.02 billion, with a notably robust 16.75% operating margin—underscoring operational leverage.
Shopify’s P/E ratio of 60.57 may draw scrutiny, yet such multiples are typical of high-growth software franchises with sustained reinvestment runways and underpenetrated global market opportunities. The consensus 2025 revenue growth estimate of 21.98% further justifies this premium—growth is broad-based, supported by international expansion across 175+ geographies and increasing upmarket penetration among large retailers.
Shopify’s enduring brand strength, reflected in its centrality to the global commerce ecosystem and reinforced by ongoing platform innovation (e.g., direct ChatGPT purchasing integration, advanced POS upgrades), marks it as a clear structural leader. The company balances rapid product iteration with prudent financial discipline, creating a virtuous cycle of competitive reinvestment and market share accretion.
Volume and Liquidity
A consistently elevated average daily trading volume of 11.26 million shares not only signals liquid, institutionally satisfied demand but also underscores broad-based market confidence in Shopify’s prospects. The substantial float and stalwart institutional sponsorship—including the likes of Vanguard and Capital Research—reduce single-holder concentration risks, ensuring efficient price discovery and orderly trading, even during periods of amplified volatility.
Shopify’s dual listing on the U.S. and Canadian exchanges provides investors with cross-border accessibility and currency optimization options, making it a staple allocation in both North American and global technology portfolios.
Catalysts and Positive Outlook
Looking ahead, a series of powerful catalysts appear poised to drive Shopify’s next phase of growth:
- May 8, 2025 Q1 Results: This upcoming earnings date is a potential inflection point. The company has consistently outperformed analyst expectations in prior quarters.
- AI Commerce Expansion: The incorporation of cutting-edge AI commerce tools and search integrations (via Vantage Discovery and OpenAI partnerships) should bolster merchant productivity and conversion rates.
- Retail and Omnichannel Push: With recent POS upgrades (including 7 new hardware/software improvements), Shopify is deepening its addressable market by offering true omnichannel capabilities to its merchant base.
- ESG & Sustainability Initiatives: Expanding efforts in sustainability, including support for carbon-neutral commerce and merchant analytics, appeal to institutional investors with an ESG mandate and may contribute to valuation premiums.
- Macroeconomic Backdrop: Steady North American consumer confidence, combined with accelerating global digitization trends, supports top-line growth projections for Shopify and its ecosystem.
- M&A Flexibility: A strong balance sheet equips Shopify for further accretive acquisitions or strategic partnerships.
Collectively, these factors, alongside high innovation velocity and expanding global infrastructure, underpin the consensus "Outperform" rating and a mean analyst price target of $120.79 USD—approximately 30% upside from current levels.
Investment Strategies
Short-term opportunities signal appeal for those seeking to capitalize on earnings momentum and positive technical setups. The recent pullback toward strong support levels (notably the $84.49 area) suggests attractive tactical entries for buyers aiming to capture potential pre-earnings rallies.
Medium-term investors are presented with compelling risk/reward dynamics, as the stock’s current consolidation below key resistance—coupled with the pending Q1 results—may precede an upward breakout. The present environment, defined by liquidity, institutional confidence, and firm technical underpinnings, enhances the case for phased accumulation strategies.
Long-term perspectives remain notably positive: Shopify represents a rare platform asset that has steadily expanded its total addressable market through both product innovation and global expansion. Investors who prioritize growth, digitization, and category leadership will see alignment with Shopify’s management vision, fortress balance sheet, and proven operating model.
Ideal positioning strategies today include:
- Initiating or increasing exposure at or near current support ($84.49 and below) to capitalize on favorable risk symmetry.
- Phased accumulation during volatility, taking advantage of technical lows or ahead of earnings catalysts.
- Strategic watch for a confirmed breakout above $96.99–$98.93, as a potential signal of renewed medium-term upside.
Is it the Right Time to Buy Shopify?
To synthesize: Shopify stands at the intersection of accelerating sector growth, innovation leadership, and improving financial results. The underlying financials—highlighting robust revenue and EBITDA growth, expanding margins, and relentless platform investment—justify renewed investor interest. Technical signals suggest the stock may be entering a new bullish phase, with strong support, growing market liquidity, and upcoming catalysts setting the stage for continued outperformance.
With the convergence of powerful operational results, ongoing product rollouts, and a rapidly evolving digital commerce landscape, Shopify seems to represent an excellent opportunity for investors seeking exposure to a Canadian technology powerhouse with global ambitions. While disciplined risk management and attention to broader market volatility remain prudent, the stock’s outlook, supported by both fundamentals and technicals, positions it as a candidate for serious portfolio consideration.
In an environment defined by digital transformation and persistent innovation, Shopify may offer investors a compelling entry point as it reinforces its leadership in e-commerce infrastructure—setting the stage for potentially significant upside in the months ahead.
How to buy Shopify stock in Canada?
Buying Shopify Stock Online: Simple and Secure
Purchasing Shopify stock online is a seamless and secure process when you use a regulated broker in Canada. Whether you’re new to investing or already have experience, modern online brokers let you buy shares directly (“spot buying”) or trade Shopify’s share price indirectly using Contracts for Difference (CFDs). Both methods are transparent, but they work differently: cash buying makes you an actual shareholder, while CFDs allow you to speculate with leverage. The choice depends on your objectives, and it’s crucial to compare broker fees and services—find a broker comparison further down this page to get started.
Spot Buying
A cash (spot) purchase means you buy actual Shopify shares on a major stock exchange like the TSX (Toronto Stock Exchange), becoming part-owner of the company. You’ll pay a fixed commission per order—typical online broker fees in Canada range from $0 to $9.99 CAD per trade, with many charging around $5. For example, if Shopify is trading at $93.97 USD (about $128 CAD as of April 2025) and you invest $1,000 CAD, you can buy approximately 7 shares, factoring in a $5 brokerage fee.
Example Scenario
Gain scenario: If Shopify’s share price rises by 10%, the value of your holding increases to $1,100.
Result: That’s a $100 gross gain, or +10% on your original investment (excluding tax).
Trading via CFD
CFDs (Contracts for Difference) let you speculate on Shopify’s share price without owning the shares. You can trade both rising (“long”) or falling (“short”) markets, and use leverage for higher exposure. Instead of a per-trade commission, brokers typically charge a spread (the difference between buy and sell prices) and may apply overnight financing fees if you hold positions beyond a day. For example, with a $1,000 CAD deposit and 5x leverage, you access $5,000 of market exposure to Shopify via CFDs.
Example Scenario
Gain scenario: If Shopify rises by 8%, your leveraged position increases by 8% × 5 = 40%.
Result: This gives a $400 gain on a $1,000 stake (before fees and currency factors).
Final Advice
Before investing, always compare brokers for fees, trading conditions, and platform features—see our detailed comparison further down this page. The best method depends on your goals: choose spot buying for direct ownership and long-term growth, or CFDs for flexible, leveraged trading. Take your time to understand each option so you invest with confidence.
Our 7 tips for buying Shopify stock
| Step | Specific tip for Shopify |
|---|---|
| Analyze the market | Evaluate Shopify's role as a leader in e-commerce infrastructure, considering strong annual revenue growth, positive sector outlook in Canada, and increasing global expansion. |
| Choose the right trading platform | Select a Canadian broker that offers access to both the TSX and NASDAQ, allowing you to buy Shopify shares in CAD or USD while considering platform fees and features. |
| Define your investment budget | Allocate a portion of your portfolio to Shopify, mindful of its growth potential but also its volatility and higher valuation; diversification reduces risk for Canadian investors. |
| Choose a strategy (short or long term) | Consider a long-term strategy to capitalize on Shopify’s ongoing innovation, international expansion, and adoption of AI-powered tools that may drive future gains. |
| Monitor news and financial results | Stay updated on Shopify’s quarterly earnings releases, platform updates, and major announcements, especially around key dates like the Q1 2025 results on May 8. |
| Use risk management tools | Set stop-loss orders or trailing stops, and use risk controls such as limit orders to manage exposure to Shopify’s short-term price swings and market volatility. |
| Sell at the right time | Review your investment goals; consider selling after strong price rallies, at technical resistance levels, or before major events if risk appetite or financial goals require. |
The latest news about Shopify
Shopify’s Q4 2024 financial results surpassed analyst expectations, driven by 30% year-over-year revenue growth and record net income. The company’s Q4 revenue reached $2.81 billion, up 30.06% compared to the previous year, while net income more than doubled quarter-over-quarter to $1.29 billion. Notably, Shopify maintained strong operating and EBITDA margins, reflecting operational efficiency and robust demand for its platform. These results reinforce confidence among investors, especially those in Canada given Shopify’s homegrown leadership and major economic contributions out of its Ottawa headquarters.
Shopify has consolidated its dual listing strategy by retaining its Canadian TSX presence while shifting its U.S. listing to Nasdaq, increasing investor accessibility. This move allows Shopify to maximize liquidity and visibility within two of North America’s most important stock exchanges, providing Canadian investors with seamless trading and continued access via the TSX. The dual listing ensures the stock remains accessible within Canadian registered accounts such as TFSA and RRSP, and underscores the company’s commitment to its Canadian base even as it pursues global investor interest.
The Winter 2025 Edition launch introduced over 150 platform enhancements, focusing on AI-driven commerce and expanded retail capabilities. Among the most notable recent platform updates are new AI-powered merchant tools and substantial upgrades to Shopify’s point-of-sale (POS) ecosystem, which are crucial for Canadian retailers seeking omnichannel solutions. These feature upgrades not only keep Shopify competitive globally, but also directly enhance the technological infrastructure available to Canada’s retail and e-commerce businesses, supporting the country’s burgeoning digital economy.
Acquisition of Vantage Discovery deepens Shopify’s AI capabilities, empowering Canadian merchants with advanced search and analytics solutions. By integrating Vantage Discovery’s AI-powered search engine, Shopify enhances the ability of Canadian merchants—both large and small—to deliver sophisticated, personalized shopping experiences. This underscores Shopify’s leadership in innovation and strengthens the competitiveness of the Canadian retail sector, supporting national priorities for digital transformation.
Canadian market analysts and global experts maintain a consensus “Outperform” rating on Shopify, with a target upside of approximately 30% from current levels. This bullish sentiment, grounded in ongoing strong financial performance, technological innovation, and solid growth projections for 2025, is especially meaningful for Canadian institutional and retail investors. It reflects confidence in Shopify’s ability to maintain its role as a pillar of Canada’s technology landscape, and affirms market optimism ahead of the pivotal Q1 2025 earnings release scheduled for May 8.
FAQ
What is the latest dividend for Shopify stock?
Shopify stock does not currently pay a dividend. The company has never issued regular dividends, instead reinvesting profits to fuel its platform’s innovation and international expansion. This approach aligns with many high-growth technology firms, focusing on long-term value creation rather than short-term shareholder payouts. Investors interested in Shopify are typically seeking capital appreciation rather than income.
What is the forecast for Shopify stock in 2025, 2026, and 2027?
Based on the current share price of $93.97 USD, optimistic projections estimate Shopify’s stock could reach approximately $122 at the end of 2025, $141 at the end of 2026, and $188 by the end of 2027. These forecasts reflect ongoing strong sector momentum, as e-commerce adoption and digital transformation trends continue to accelerate globally. Shopify’s innovative commerce solutions and robust financial performance strengthen its outlook for sustained growth.
Should I sell my Shopify shares?
Holding on to Shopify shares may be appropriate for investors seeking exposure to a leader in the e-commerce technology space. The company has demonstrated strategic resilience, consistent revenue growth, and an ability to outpace market expectations. With a robust pipeline of platform updates and global expansion plans, Shopify remains well-positioned for mid- to long-term growth. Its strong fundamentals and ongoing innovation support a constructive outlook for those with a longer investment horizon.
Are Shopify shares eligible for Canadian tax-advantaged accounts like the TFSA or RRSP, and how are gains taxed?
Yes, Shopify shares listed on the TSX are fully eligible for Canadian tax-advantaged accounts such as the TFSA and RRSP. Within these registered accounts, capital gains on Shopify shares are tax-free (TFSA) or tax-deferred (RRSP), which can be advantageous for Canadian investors. Since Shopify does not pay dividends, investors avoid foreign dividend withholding tax concerns often seen with U.S. stocks.
What is the latest dividend for Shopify stock?
Shopify stock does not currently pay a dividend. The company has never issued regular dividends, instead reinvesting profits to fuel its platform’s innovation and international expansion. This approach aligns with many high-growth technology firms, focusing on long-term value creation rather than short-term shareholder payouts. Investors interested in Shopify are typically seeking capital appreciation rather than income.
What is the forecast for Shopify stock in 2025, 2026, and 2027?
Based on the current share price of $93.97 USD, optimistic projections estimate Shopify’s stock could reach approximately $122 at the end of 2025, $141 at the end of 2026, and $188 by the end of 2027. These forecasts reflect ongoing strong sector momentum, as e-commerce adoption and digital transformation trends continue to accelerate globally. Shopify’s innovative commerce solutions and robust financial performance strengthen its outlook for sustained growth.
Should I sell my Shopify shares?
Holding on to Shopify shares may be appropriate for investors seeking exposure to a leader in the e-commerce technology space. The company has demonstrated strategic resilience, consistent revenue growth, and an ability to outpace market expectations. With a robust pipeline of platform updates and global expansion plans, Shopify remains well-positioned for mid- to long-term growth. Its strong fundamentals and ongoing innovation support a constructive outlook for those with a longer investment horizon.
Are Shopify shares eligible for Canadian tax-advantaged accounts like the TFSA or RRSP, and how are gains taxed?
Yes, Shopify shares listed on the TSX are fully eligible for Canadian tax-advantaged accounts such as the TFSA and RRSP. Within these registered accounts, capital gains on Shopify shares are tax-free (TFSA) or tax-deferred (RRSP), which can be advantageous for Canadian investors. Since Shopify does not pay dividends, investors avoid foreign dividend withholding tax concerns often seen with U.S. stocks.
