Analyst Consensus ?
ConsensusBuy63 ratings
Bullish4266.7%
Neutral1828.6%
Bearish34.7%
Shopify Inc. · SHOP · FY2025 Q4 · Calendar Q1 2026
Shopify’s Q4 call puts agentic commerce and payments expansion in focus
The call’s investment case rests on Shopify extending its commerce platform into AI-led shopping while continuing to expand payments and international reach. The opportunity is supported by management’s stated product and rollout priorities; its scale depends on agentic commerce adoption and economics that remain uncertain.
Reported Before market openNASDAQTechnology
$185.01B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.46
Consensus $0.51
EPS surprise
-9.1%
Reported versus consensus
Reported revenue
$3.64B
Consensus $3.60B
Revenue surprise
+1.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-6.7%
Event window
SPY move
-0.0%
Same window
Abnormal move
-6.7%
Stock minus SPY
Volume
4.1×
Versus trailing sessions
Subsequent drift
+6.3%
Up to 20 sessions
SHOPSPY benchmark
Ask FN2 about SHOP FY2025 Q4
Transcript, numbers and history already loaded
Why did SHOP fall 6.7% after missing EPS estimates in FY2025 Q4?What changed in SHOP's guidance and outlook in FY2025 Q4?Give me the bull and bear case for SHOP after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the discussion moves from early AI tools and agentic-commerce integrations toward the Universal Commerce Protocol and agentic storefronts as central platform initiatives. Management also described payment-method expansion across 60 additional countries and further global rollout plans. The supplied analysis does not establish that adoption or monetization risks have been resolved.
Guidance delta
Management’s Q1 2026 outlook, as summarized in the supplied call analysis, was revenue growth in the low 30% year over year, gross-profit growth in the high 20s, and operating expenses at 37–38% of revenue. The prior-quarter analysis had described Q4 revenue growth guidance in the mid-to-high 20% range. These are management outlook summaries, not a guarantee of results.
Key takeaways
- The supplied analysis describes 2025 as a record year, with revenue above $11.5 billion and GMV up 29% to $378 billion; Q4 revenue exceeded $3 billion for the first time.
- Management presented AI shopping and agentic commerce as strategic growth areas, including the Universal Commerce Protocol co-developed with Google and agentic storefronts.
- Shopify highlighted global payments expansion, international merchant acquisition, offline retail and B2B as areas for continued development.
- The adoption timeline, transaction economics on AI surfaces and free-cash-flow impact of product investment remain open questions.
Management priorities
- Scale agentic storefronts and onboard non-Shopify merchants through the agentic plan.
- Continue Shopify Payments’ global rollout, including stablecoin and additional local payment methods.
- Develop Sidekick’s data capabilities and expand AI-generated apps and automations.
- Grow Shop Campaigns and advertising partnerships, and advance Managed Markets 2.0.
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Analyst 52W Price Targets
$152.38Current
$46Low
$136.84Average
$210High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Keybanc | Overweight | Overweight | Maintain | Nov 2, 2026 |
| Citigroup | Buy | Buy | Maintain | Oct 28, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Oct 23, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Oct 16, 2026 |
| Baird | Outperform | Outperform | Maintain | Oct 14, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Oct 12, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 6, 2026 |
| Wedbush | Outperform | Outperform | Maintain | Sep 23, 2026 |
| Piper Sandler | Overweight | Overweight | Maintain | Sep 8, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Aug 7, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 6, 2026 |
| Truist Securities | Buy | Buy | Maintain | Aug 6, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Aug 6, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 6, 2026 |
| DA Davidson | Buy | Buy | Maintain | Aug 6, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Aug 6, 2026 |
| Canaccord Genuity | Buy | Buy | Maintain | Aug 6, 2026 |
| Benchmark | Buy | Buy | Maintain | Aug 6, 2026 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 6, 2026 |
| Rothschild & Co | Neutral | Buy | Downgrade | Jul 21, 2026 |
| Jefferies | Buy | Hold | Upgrade | Jul 13, 2026 |
| Stifel | Buy | Hold | Upgrade | Jul 10, 2026 |
| Needham | Buy | Buy | Maintain | May 5, 2026 |
| Mizuho | Outperform | Neutral | Upgrade | Feb 12, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Feb 12, 2026 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | Jan 8, 2026 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Jan 6, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Nov 5, 2025 |
| CIBC | Outperform | Outperform | Maintain | Nov 5, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Aug 7, 2025 |
| Loop Capital | Hold | Buy | Downgrade | Jul 22, 2025 |
| MoffettNathanson | Neutral | Neutral | Maintain | Nov 26, 2024 |
| Redburn Atlantic | Buy | Neutral | Upgrade | Sep 17, 2024 |
| Roth MKM | Buy | Buy | Maintain | Aug 8, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Aug 8, 2024 |
| B of A Securities | Buy | Neutral | Upgrade | Jul 16, 2024 |
| TD Securities | Hold | Hold | Maintain | May 9, 2024 |
| Exane BNP Paribas | Underperform | Neutral | Downgrade | Jan 18, 2024 |
| DZ Bank | Sell | Hold | Downgrade | Dec 12, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Jul 14, 2023 |
| Atlantic Equities | Neutral | Overweight | Downgrade | May 9, 2023 |
| National Bank Of Canada | Outperform | Outperform | Maintain | May 5, 2023 |
| CFRA | Buy | Hold | Upgrade | May 4, 2023 |
| Roth Capital | Buy | Neutral | Upgrade | Jan 30, 2023 |
| SMBC Nikko | Outperform | Outperform | Maintain | Jul 28, 2022 |
| William Blair | Outperform | Market Perform | Upgrade | Jan 12, 2022 |
| Susquehanna | Positive | Positive | Maintain | Jul 22, 2021 |
| Rosenblatt | Buy | Buy | Maintain | Feb 18, 2021 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Jul 30, 2020 |
| Raymond James | Market Perform | Outperform | Downgrade | Apr 7, 2020 |
| Bank of America | Underperform | Underperform | Maintain | Aug 2, 2019 |
| Guggenheim | Neutral | Buy | Downgrade | May 13, 2019 |
| PiperJaffray | Neutral | Overweight | Downgrade | Aug 1, 2018 |
| Monness, Crespi, Hardt | Buy | Neutral | Upgrade | Oct 27, 2017 |
| Monness Crespi Hardt | Buy | Neutral | Upgrade | Oct 27, 2017 |
| Eight Capital | Buy | Neutral | Upgrade | May 3, 2017 |
| BTIG Research | Neutral | Buy | Downgrade | Apr 27, 2017 |
| BTIG | Neutral | Buy | Downgrade | Apr 27, 2017 |
| Dundee | Neutral | Neutral | Maintain | Oct 17, 2016 |
| Maxim Group | Hold | Hold | Maintain | May 26, 2016 |
| Macquarie | Outperform | Outperform | Maintain | May 18, 2016 |
| Paradigm Capital | Buy | Buy | Maintain | Apr 14, 2016 |
| Pacific Crest | Overweight | Sector Weight | Upgrade | Mar 8, 2016 |
Named analyst price targets
Upside is calculated against the persisted current price $152.38. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| D.A. Davidson | Gil Luria | $180 | $142.6 | +18.1% | Nov 3, 2026 |
| Oppenheimer | Analyst unavailable | $205 | $168.81 | +34.5% | Oct 23, 2026 |
| Robert W. Baird | Analyst unavailable | $190 | $176.52 | +24.7% | Oct 14, 2026 |
| Stifel Nicolaus | Parker Lane | $210 | $176.52 | +37.8% | Oct 14, 2026 |
| Cantor Fitzgerald | Analyst unavailable | $158 | $170.85 | +3.7% | Oct 12, 2026 |
| Seaport Global | Jeff Cantwell | $180 | $166.16 | +18.1% | Oct 8, 2026 |
| Mizuho Securities | Siti Panigrahi | $180 | $142.34 | +18.1% | Sep 24, 2026 |
| Bernstein | Mark Shmulik | $160 | $126.6 | +5.0% | Sep 10, 2026 |
| Piper Sandler | James Callahan | $180 | $145.09 | +18.1% | Sep 8, 2026 |
| Seaport Global | Analyst unavailable | $175 | $150.25 | +14.8% | Aug 17, 2026 |
| Wells Fargo | Analyst unavailable | $180 | $147.44 | +18.1% | Aug 7, 2026 |
| D.A. Davidson | Analyst unavailable | $200 | $145.67 | +31.3% | Aug 6, 2026 |
| Cantor Fitzgerald | Deepak Mathivanan | $145 | $144.24 | -4.8% | Aug 6, 2026 |
| RBC Capital | Paul Treiber | $180 | $144.24 | +18.1% | Aug 6, 2026 |
| UBS | Analyst unavailable | $145 | $144.24 | -4.8% | Aug 6, 2026 |
| Goldman Sachs | Gabriela Borges | $194 | $144.24 | +27.3% | Aug 6, 2026 |
| Barclays | Analyst unavailable | $145 | $144.24 | -4.8% | Aug 6, 2026 |
| Canaccord Genuity | David Hynes | $180 | $144.24 | +18.1% | Aug 5, 2026 |
| Jefferies | Samad Samana | $175 | $144.24 | +14.8% | Aug 5, 2026 |
| Truist Financial | Analyst unavailable | $180 | $144.24 | +18.1% | Aug 5, 2026 |
| Evercore ISI | Analyst unavailable | $175 | $147.67 | +14.8% | Aug 5, 2026 |
| Redburn Partners | Dominic Ball | $130 | $124.48 | -14.7% | Jul 21, 2026 |
| Jefferies | Samad Samana | $160 | $122.54 | +5.0% | Jul 12, 2026 |
| Stifel Nicolaus | Analyst unavailable | $150 | $123.17 | -1.6% | Jul 9, 2026 |
| UBS | Analyst unavailable | $130 | $106.86 | -14.7% | May 6, 2026 |
| D.A. Davidson | Analyst unavailable | $140 | $107.76 | -8.1% | May 6, 2026 |
| Oppenheimer | Ken Wong | $175 | $107.63 | +14.8% | May 6, 2026 |
| Robert W. Baird | Colin Sebastian | $150 | $107.63 | -1.6% | May 6, 2026 |
| Barclays | Analyst unavailable | $126 | $107.63 | -17.3% | May 6, 2026 |
| Jefferies | Samad Samana | $140 | $107.63 | -8.1% | May 5, 2026 |
| Piper Sandler | James Callahan | $150 | $105.74 | -1.6% | May 5, 2026 |
| Jefferies | Samad Samana | $150 | $130.2 | -1.6% | Mar 8, 2026 |
| Truist Financial | Analyst unavailable | $150 | $112.7 | -1.6% | Feb 17, 2026 |
| Jefferies | Samad Samana | $125 | $112.7 | -18.0% | Feb 16, 2026 |
| Deutsche Bank | Bhavin Shah | $175 | $110 | +14.8% | Feb 12, 2026 |
| CIBC | Analyst unavailable | $185 | $105.87 | +21.4% | Feb 12, 2026 |
| RBC Capital | Analyst unavailable | $170 | $106.29 | +11.6% | Feb 12, 2026 |
| Wedbush | Analyst unavailable | $160 | $105.58 | +5.0% | Feb 12, 2026 |
| Cantor Fitzgerald | Deepak Mathivanan | $126 | $109.71 | -17.3% | Feb 12, 2026 |
| BMO Capital | Analyst unavailable | $160 | $111.55 | +5.0% | Feb 12, 2026 |
| Robert W. Baird | Analyst unavailable | $160 | $110.7 | +5.0% | Feb 12, 2026 |
| Barclays | Trevor Young | $130 | $109.91 | -14.7% | Feb 12, 2026 |
| Wells Fargo | Analyst unavailable | $191 | $118.98 | +25.3% | Feb 12, 2026 |
| Canaccord Genuity | David Hynes | $165 | $118.98 | +8.3% | Feb 12, 2026 |
| Mizuho Securities | Siti Panigrahi | $150 | $118.98 | -1.6% | Feb 12, 2026 |
| Stifel Nicolaus | Parker Lane | $115 | $118.71 | -24.5% | Feb 11, 2026 |
| Evercore ISI | Analyst unavailable | $135 | $118.71 | -11.4% | Feb 11, 2026 |
| KeyBanc | Justin Patterson | $160 | $116.21 | +5.0% | Feb 11, 2026 |
| MoffettNathanson | Analyst unavailable | $150 | $118.4 | -1.6% | Feb 9, 2026 |
| BMO Capital | Thanos Moschopoulos | $150 | $112.05 | -1.6% | Feb 9, 2026 |
| Arete Research | Analyst unavailable | $175 | $131.23 | +14.8% | Feb 2, 2026 |
| Scotiabank | Kevin Krishnaratne | $200 | $166.74 | +31.3% | Jan 8, 2026 |
| Wolfe Research | Analyst unavailable | $185 | $166.21 | +21.4% | Jan 5, 2026 |
| Wells Fargo | Analyst unavailable | $198 | $163.14 | +29.9% | Dec 17, 2025 |
| UBS | Analyst unavailable | $195 | $159.61 | +28.0% | Dec 3, 2025 |
| CIBC | Analyst unavailable | $200 | $165.06 | +31.3% | Nov 5, 2025 |
| UBS | Analyst unavailable | $165 | $159.77 | +8.3% | Nov 5, 2025 |
| Scotiabank | Analyst unavailable | $165 | $160.44 | +8.3% | Nov 5, 2025 |
| Cantor Fitzgerald | Deepak Mathivanan | $181 | $159.42 | +18.8% | Nov 5, 2025 |
| D.A. Davidson | Gil Luria | $195 | $159.16 | +28.0% | Nov 5, 2025 |
| Morgan Stanley | Analyst unavailable | $192 | $160.94 | +26.0% | Nov 5, 2025 |
| Barclays | Trevor Young | $140 | $160.94 | -8.1% | Nov 5, 2025 |
| Needham | Scott Berg | $180 | $160.94 | +18.1% | Nov 5, 2025 |
| Truist Financial | Terry Tillman | $155 | $160.94 | +1.7% | Nov 4, 2025 |
| Canaccord Genuity | David Hynes | $185 | $163.54 | +21.4% | Nov 4, 2025 |
| Stifel Nicolaus | Analyst unavailable | $175 | $163.54 | +14.8% | Nov 4, 2025 |
| KeyBanc | Justin Patterson | $200 | $179.01 | +31.3% | Oct 30, 2025 |
| Oppenheimer | Ken Wong | $200 | $175.83 | +31.3% | Oct 28, 2025 |
| RBC Capital | Paul Treiber | $200 | $155.63 | +31.3% | Oct 17, 2025 |
| Oppenheimer | Analyst unavailable | $149 | $148.61 | -2.2% | Sep 30, 2025 |
| Cantor Fitzgerald | Deepak Mathivanan | $156 | $139.47 | +2.4% | Aug 27, 2025 |
| JMP Securities | Andrew Boone | $185 | $152.17 | +21.4% | Aug 7, 2025 |
| Oppenheimer | Ken Wong | $180 | $154.9 | +18.1% | Aug 6, 2025 |
| Truist Financial | Terry Tillman | $100 | $93.83 | -34.4% | May 6, 2025 |
| BMO Capital | Thanos Moschopoulos | $120 | $93.83 | -21.2% | May 6, 2025 |
| Jefferies | Samad Samana | $110 | $98.38 | -27.8% | May 5, 2025 |
| KeyBanc | Justin Patterson | $105 | $90.96 | -31.1% | Apr 23, 2025 |
| Wedbush | Scott Devitt | $110 | $83.91 | -27.8% | Apr 15, 2025 |
| New Street | Dan Salmon | $115 | $103.71 | -24.5% | Jan 10, 2025 |
| Wedbush | Scott Devitt | $125 | $114.24 | -18.0% | Jan 6, 2025 |
| Deutsche Bank | Bhavin Shah | $125 | $115.6 | -18.0% | Dec 2, 2024 |
| Piper Sandler | Clarke Jeffries | $94 | $69.3 | -38.3% | Nov 13, 2024 |
| Loop Capital Markets | Anthony Chukumba | $110 | $69.3 | -27.8% | Nov 13, 2024 |
| Truist Financial | Terry Tillman | $110 | $69.3 | -27.8% | Nov 13, 2024 |
| Oppenheimer | Ken Wong | $130 | $108.92 | -14.7% | Nov 12, 2024 |
| Evercore ISI | Mark Mahaney | $125 | $108.92 | -18.0% | Nov 12, 2024 |
| Scotiabank | Kevin Krishnaratne | $80 | $79.7 | -47.5% | Oct 24, 2024 |
| Veritas Investment Research | Desmond Lau | $80 | $79.64 | -47.5% | Oct 23, 2024 |
| RBC Capital | Paul Treiber | $100 | $81.63 | -34.4% | Oct 18, 2024 |
| Piper Sandler | Clarke Jeffries | $67 | $84.09 | -56.0% | Oct 11, 2024 |
| Loop Capital Markets | Anthony Chukumba | $90 | $82.58 | -40.9% | Oct 9, 2024 |
| Wells Fargo | Andrew Bauch | $90 | $68.17 | -40.9% | Sep 11, 2024 |
| Seaport Global | Jeff Cantwell | $84 | $67.22 | -44.9% | Aug 8, 2024 |
| Citigroup | Tyler Radke | $90 | $63.89 | -40.9% | Aug 8, 2024 |
| Truist Financial | Terry Tillman | $55 | $52.04 | -63.9% | Aug 5, 2024 |
| KeyBanc | Justin Patterson | $80 | $59.27 | -47.5% | Jul 24, 2024 |
| Wolfe Research | Shweta Khajuria | $80 | $64.21 | -47.5% | Jul 15, 2024 |
| Evercore ISI | Mark Mahaney | $75 | $64.69 | -50.8% | Jun 14, 2024 |
| J.P. Morgan | Reginald Smith | $74 | $63.81 | -51.4% | Jun 11, 2024 |
| MoffettNathanson | Michael Morton | $65 | $61.25 | -57.3% | Jun 6, 2024 |
| Wells Fargo | Jeff Cantwell | $75 | $56.97 | -50.8% | May 28, 2024 |
| Goldman Sachs | Gabriela Borges | $74 | $57.02 | -51.4% | May 22, 2024 |
| CIBC | Todd Coupland | $85 | $62.22 | -44.2% | May 9, 2024 |
| Scotiabank | Kevin Krishnaratne | $75 | $62.73 | -50.8% | May 9, 2024 |
| Mizuho Securities | Siti Panigrahi | $65 | $62.73 | -57.3% | May 9, 2024 |
| RBC Capital | Paul Treiber | $85 | $62.73 | -44.2% | May 9, 2024 |
| Robert W. Baird | Colin Sebastian | $77 | $62.73 | -49.5% | May 9, 2024 |
| Deutsche Bank | Bhavin Shah | $80 | $62.73 | -47.5% | May 9, 2024 |
| D.A. Davidson | Gil Luria | $84 | $62.73 | -44.9% | May 9, 2024 |
| JMP Securities | Andrew Boone | $80 | $62.73 | -47.5% | May 9, 2024 |
| Piper Sandler | Clarke Jeffries | $63 | $62.73 | -58.7% | May 8, 2024 |
| Wedbush | Scott Devitt | $68 | $62.73 | -55.4% | May 8, 2024 |
| Truist Financial | Terry Tillman | $85 | $77.32 | -44.2% | May 7, 2024 |
| Morgan Stanley | Keith Weiss | $85 | $69.51 | -44.2% | Apr 19, 2024 |
| Loop Capital Markets | Anthony Chukumba | $80 | $70 | -47.5% | Apr 15, 2024 |
| Robert W. Baird | Colin Sebastian | $87 | $78.12 | -42.9% | Apr 3, 2024 |
| Oppenheimer | Ken Wong | $90 | $77.52 | -40.9% | Mar 18, 2024 |
| Truist Financial | Andrew Jeffrey | $60 | $90.13 | -60.6% | Feb 9, 2024 |
| Piper Sandler | Clarke Jeffries | $56 | $72.66 | -63.2% | Dec 6, 2023 |
| RBC Capital | Paul Treiber | $80 | $73.25 | -47.5% | Nov 27, 2023 |
| Roth Capital | Darren Aftahi | $76 | $59.07 | -50.1% | Aug 29, 2023 |
| RBC Capital | Paul Treiber | $75 | $65.39 | -50.8% | Jul 20, 2023 |
| Roth Capital | Darren Aftahi | $73 | $70.07 | -52.1% | Jul 13, 2023 |
| Oppenheimer | Ken Wong | $80 | $64.29 | -47.5% | Jun 20, 2023 |
| KeyBanc | Josh Beck | $65 | $62.12 | -57.3% | May 5, 2023 |
| Oppenheimer | Ken Wong | $65 | $45.8 | -57.3% | Apr 13, 2023 |
| JMP Securities | Andrew Boone | $65 | $46.57 | -57.3% | Apr 12, 2023 |
| Loop Capital Markets | Josh Beck | $55 | $45.79 | -63.9% | Feb 16, 2023 |
| Citigroup | Analyst unavailable | $54 | $53.28 | -64.6% | Feb 2, 2023 |
| Scotiabank | Analyst unavailable | $43 | $49.27 | -71.8% | Feb 1, 2023 |
| UBS | Analyst unavailable | $30 | $36.73 | -80.3% | Dec 8, 2022 |
| RBC Capital | Paul Treiber | $55 | $37.8 | -63.9% | Nov 28, 2022 |
| MoffettNathanson | Analyst unavailable | $30 | $40.78 | -80.3% | Nov 15, 2022 |
| Morgan Stanley | Keith Weiss | $40 | $28.76 | -73.7% | Sep 24, 2022 |
| Oppenheimer | Ken Wong | $45 | $31.7 | -70.5% | Sep 8, 2022 |
| Atlantic Equities | Kunaal Malde | $46 | $40.61 | -69.8% | Aug 11, 2022 |
| Stifel Nicolaus | Scott Devitt | $65 | $31.41 | -57.3% | Jul 5, 2022 |
| Truist Financial | Terry Tillman | $35 | $31.41 | -77.0% | Jul 5, 2022 |
| Canaccord Genuity | David Hynes | $51.5 | $34 | -66.2% | May 9, 2022 |
| Oppenheimer | Brian Schwartz | $50 | $41.31 | -67.2% | May 6, 2022 |
| Stifel Nicolaus | Scott Devitt | $65 | $41.31 | -57.3% | May 6, 2022 |
| Loop Capital Markets | Analyst unavailable | $46 | $46.64 | -69.8% | May 3, 2022 |
| Wedbush | Ygal Arounian | $63 | $45.3 | -58.7% | May 3, 2022 |
| Deutsche Bank | Bhavin Shah | $55 | $43.89 | -63.9% | May 2, 2022 |
| RBC Capital | Paul Treiber | $100 | $44.44 | -34.4% | Apr 28, 2022 |
| Roth Capital | Darren Aftahi | $62.5 | $42.81 | -59.0% | Apr 26, 2022 |
| Stifel Nicolaus | Scott Devitt | $80 | $46 | -47.5% | Apr 25, 2022 |
| Piper Sandler | Brent Bracelin | $80 | $46 | -47.5% | Apr 25, 2022 |
| Wells Fargo | Jeff Cantwell | $83.4 | $64.4 | -45.3% | Apr 7, 2022 |
| Wedbush | Ygal Arounian | $93.7 | $66 | -38.5% | Feb 17, 2022 |
| Citigroup | Tyler Radke | $88.2 | $66 | -42.1% | Feb 17, 2022 |
| Barclays | Trevor Young | $90 | $66 | -40.9% | Feb 17, 2022 |
| TD Securities | Daniel Chan | $84 | $66 | -44.9% | Feb 17, 2022 |
| Credit Suisse | Timothy Chiodo | $85 | $66 | -44.2% | Feb 17, 2022 |
| Loop Capital Markets | Anthony Chukumba | $80 | $66 | -47.5% | Feb 17, 2022 |
| Goldman Sachs | Gabriela Borges | $83.3 | $66 | -45.3% | Feb 17, 2022 |
| Stifel Nicolaus | Scott Devitt | $100 | $74.68 | -34.4% | Feb 16, 2022 |
| Piper Sandler | Brent Bracelin | $90 | $74.68 | -40.9% | Feb 16, 2022 |
| KeyBanc | Josh Beck | $115 | $88.95 | -24.5% | Feb 15, 2022 |
| Morgan Stanley | Keith Weiss | $115 | $84.74 | -24.5% | Feb 14, 2022 |
| Barclays | Trevor Young | $120 | $87.6 | -21.2% | Feb 6, 2022 |
| SMBC Nikko | Andrew Bauch | $120 | $86.89 | -21.2% | Jan 26, 2022 |
| KeyBanc | Josh Beck | $125 | $89.24 | -18.0% | Jan 25, 2022 |
| Stifel Nicolaus | Scott Devitt | $130 | $105.47 | -14.7% | Jan 18, 2022 |
| Benchmark Co. | Mark Zgutowicz | $200 | $156.7 | +31.3% | Nov 29, 2021 |
| CIBC | Todd Coupland | $172.52 | $146.67 | +13.2% | Oct 29, 2021 |
| Susquehanna | John Coffey | $170 | $146.67 | +11.6% | Oct 29, 2021 |
| Argus Research | Jim Kelleher | $185 | $152.5 | +21.4% | Jul 29, 2021 |
| Daiwa | Jonathan Kees | $145 | $128.88 | -4.8% | Apr 28, 2021 |
Track every rating change on SHOP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationShopify Inc. functions as a premier commerce technology company, providing an extensive platform and associated services to empower businesses worldwide. Its reach extends across Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific region, and Latin America. The company's robust platform equips merchants to effectively display, organize, market, and sell their merchandise through a multitude of sales avenues. These include digital storefronts accessible via web and mobile, traditional brick-and-mortar stores, temporary pop-up locations, integrated social media channels, proprietary mobile applications, embeddable "buy buttons," and established online marketplaces.…
Historical context
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| SMCI Super Micro Computer, Inc. | FY2027 Q1 · Calendar Q4 2026 | +47.2% | -4.2% | Super Micro Raises FY27 Revenue Outlook After Record Q1 |
| XYZ Block, Inc. | FY2026 Q3 · Calendar Q4 2026 | +9.7% | +14.9% | Block raises its outlook as AI monetization and Neighborhoods advance |
| SWKS Skyworks Solutions, Inc. | FY2026 Q4 · Calendar Q4 2026 | +0.8% | -6.9% | Skyworks’ Qorvo merger broadens portfolio as smartphone softness persists |
| ANET Arista Networks, Inc. | FY2026 Q3 · Calendar Q4 2026 | +11.1% | +9.9% | Arista reports record Q3 growth and raises FY2026 and FY2027 targets |
Latest beats and misses
Who reports nextBeat on EPS
- AIZFY2026 Q3 · November 3, 2026+29.5% EPS+4.2% move
- AIZNFY2026 Q3 · November 3, 2026+36.0% EPS+0.5% move
- SMCIFY2027 Q1 · November 3, 2026+47.2% EPS-4.2% move
- XYZFY2026 Q3 · November 3, 2026+9.7% EPS+14.9% move
- AMGNFY2026 Q3 · November 3, 2026+11.4% EPS+1.6% move
- SWKSFY2026 Q4 · November 3, 2026+0.8% EPS-6.9% move
Missed on EPS
- TXFY2026 Q3 · November 3, 2026-24.9% EPS-0.0% move
- CHTFY2026 Q3 · November 4, 2026-55.7% EPS+0.9% move
- TOSTFY2026 Q3 · November 3, 2026-20.1% EPS+5.9% move
- CPNGFY2026 Q3 · November 3, 2026-90.3% EPS+13.3% move
- TLNFY2026 Q3 · November 3, 2026-65.4% EPS+7.3% move
- APOSFY2026 Q3 · November 3, 2026-5.5% EPS-0.5% move
Get the SHOP recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-04T15:00:45.749269+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T15:00:45.745897+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.