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SHOP

Shopify Inc

NASDAQ: SHOP · TECHNOLOGY · SOFTWARE - APPLICATION

$121.13
-0.11% today

Updated 2026-04-30

Market cap
$163.70B
P/E ratio
133.86
P/S ratio
14.17x
EPS (TTM)
$0.94
Dividend yield
—
52W range
$88 – $182
Volume
8.6M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Shopify Inc (SHOP) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$121.13
Consensus
$163.67
+35.12%
2030 Target
$319.28
+163.58%
DCF
$148.11
+21.05% MoS
34 analysts:
19 Buy8 Hold1 Sell

Management guidance

No specific CEO revenue targets or CAGR guidance found in available documents. Management has emphasized AI commerce initiatives (Agentic Storefront, conversational shopping via ChatGPT, Sidekick, Universal Cart) as growth drivers but has not provided explicit revenue projections through 2030.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$532.13
$34.5B Rev × 20x P/S
Base case (2030)
$319.28
$34.5B Rev × 12x P/S
Bear case (2030)
$212.85
$34.5B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$7.1B$8.9B$11.6B$14.9B$18.5B$22.9B$28.1B$34.5B
Revenue growth—25.8%30.1%29.3%23.7%23.6%23.0%22.7%
EPS$0.73$1.54$1.42$1.85$2.37$3.15$4.02$5.08
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$141.90$165.55$212.85$260.15$319.28

Catalysts & risks

Growth catalysts
+ Agentic Storefront expansion enabling direct sales via AI platforms (ChatGPT, Copilot, Google Search)
+ AI-powered merchant tools (Sidekick, Universal Cart, conversational shopping) driving GMV and transaction volumes
+ International expansion through Shopify Markets and Transcosmos partnerships enhancing localized commerce
+ Ecosystem deepening (Klaviyo integration, rePete app for guest reorders, third-party app commitments)
+ Higher-margin software and services revenue growth from existing merchant base
Key risks
- E-commerce growth deceleration amid softer consumer spending and macro headwinds
- GMV expansion slowdown evident in recent quarters despite revenue growth
- Intensifying competition from Amazon, eBay, social commerce platforms
- High valuation (P/E 126x, P/S 13.34x) already pricing in significant AI commerce success
- CEO insider selling activity (pre-arranged sales through end of 2026) raises corporate confidence questions

Methodology

Shopify Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 34 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 6, 2026.