Shopify
Runs storefront, checkout, payment, and point-of-sale infrastructure for merchants.
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Profile
Provides a hosted commerce platform spanning storefronts, checkout, payments, point-of-sale, apps, and APIs. Merchant software and embedded services broaden its role across online and physical retail, while founder voting control and dependence on outside developers and logistics partners shape the business.
Provides a commerce platform for building storefronts, processing checkout and payments, managing in-person sales through Shopify POS, and extending operations through an API and App Store. The product began as software for one online store and became a hosted platform for merchants.
Merchant workflows span online and physical retail. Payments and POS bring transactions, inventory, and sales management into the platform, while partner services support shipping and fulfillment after most owned logistics operations were divested.
Current execution embeds AI in storefront creation, merchandising, and administration, while Catalog API and Universal Commerce Protocol connect products and checkout to agent-driven shopping. The business depends on third-party developers and logistics partners, and founder Tobi Lütke retains concentrated voting influence.
Company facts
Key statistics
Year to date −2.7% · Average volume (30d) 9.6M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 17, 2026 | Seaport Global | Reiterate | Buy | $84 | $175 |
| Aug 7, 2026 | Wells Fargo | Reiterate | Overweight | $191 | $180 |
| Aug 6, 2026 | DA Davidson | Reiterate | Buy | $140 | $200 |
| Aug 6, 2026 | Cantor Fitzgerald | Reiterate | Neutral | $126 | $145 |
| Aug 6, 2026 | RBC Capital | Reiterate | Outperform | $170 | $180 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.40 | $0.42 | +5.7% | $3.40B | $3.54B | +4.2% | +16.98% |
| May 5, 2026Q1 FY26 | $0.33 | $0.36 | +10.4% | $3.06B | $3.11B | +1.4% | −2.03% |
| Feb 11, 2026Q4 FY25 | $0.51 | $0.46 | −9.1% | $3.60B | $3.64B | +1.0% | −6.78% |
| Nov 4, 2025Q3 FY25 | $0.34 | $0.34 | +1.0% | $2.75B | $2.84B | +3.4% | +1.23% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.36B | $2.68B | $2.84B | $3.67B | $3.17B | $3.58B | |
| Gross profit | $1.17B | $1.30B | $1.39B | $1.69B | $1.55B | $1.71B | |
| Operating income | $203.0M | $291.0M | $343.0M | $631.0M | $382.0M | $488.0M | |
| Net income | −$682.0M | $906.0M | $264.0M | $743.0M | −$581.0M | $1.50B | |
| Diluted EPS | −$0.53 | $0.69 | $0.20 | $0.58 | −$0.45 | $1.16 | |
| Gross margin | 49.5% | 48.6% | 48.9% | 46.1% | 48.8% | 47.7% | |
| Operating margin | 8.6% | 10.9% | 12.1% | 17.2% | 12.1% | 13.6% |
Fiscal years (4-quarter sums)FY21 $4.61B · FY22 $5.60B · FY23 $7.06B · FY24 $8.88B · FY25 $11.56B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $4.95B · Total debt $178.0M · Total assets $14.47B · Shareholders' equity $12.68B
Dividends
No dividends on record.
Ownership
Shares outstanding 1.30B · Float 1.22B · 93.7% free float
Insiders — no current Form 4 position.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 61.63M | 5.10% | 13G | Jul 30, 2026 |
| Capital International Investors | 54.89M | 4.23% | 13F | Aug 12, 2026 |
| FMR LLC | 47.18M | 3.64% | 13F | Aug 13, 2026 |
| Invesco Ltd. | 36.57M | 2.82% | 13F | Aug 14, 2026 |
| Vanguard Capital Management LLC | 34.13M | 2.63% | 13F | Aug 13, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- Amazon
Marketplace, checkout, and fulfillment competition at massive scale
- Block
Integrated payments, POS, and online commerce for SMB sellers
- Commerce.com
Direct SaaS and composable commerce rival across B2C and B2B
- Wix
Hosted storefront and site-building rival for small businesses
- Salesforce
Enterprise omnichannel commerce spanning storefronts, POS, and orders
- Adobe
Enterprise B2B and B2C commerce with deep composability
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Shopify | $152.40 | −0.33% | $198.41B | 102.6 | 72.8 | 15.0 | +32.0% |
| Amazon | $266.10 | −0.11% | $2.87T | 21.4 | 28.5 | 3.7 | +19.6% |
| Block | $83.54 | −0.05% | $49.74B | 149.2 | 18.3 | 2.0 | +9.3% |
| Commerce.com | $2.55 | +2.85% | $206.3M | — | 10.1 | 0.6 | +0.1% |
| Wix | $87.45 | −0.26% | $4.60B | — | 14.2 | 2.2 | +14.9% |
| Salesforce | $256.48 | +0.16% | $209.66B | 23.4 | 17.6 | 4.8 | +10.8% |
| Adobe | $291.46 | −0.04% | $115.88B | 16.7 | 11.3 | 4.6 | +12.7% |
| Median | 22.4 | 15.9 | 2.9 | +11.8% |