Analysts Raise Shopify Forecasts After Q3 Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 05 2025
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Source: Benzinga
Quarterly Performance: Shopify Inc. reported a 32% year-over-year revenue growth for Q3, reaching $2.84 billion, surpassing analyst expectations of $2.76 billion, with adjusted EPS of 34 cents meeting consensus estimates.
Future Projections: The company anticipates fourth-quarter revenue growth in the mid-to-high twenties percentage range, estimating between $3.51 billion and $3.59 billion, slightly above the analyst consensus of $3.48 billion.
Stock Analyst Ratings: Following the earnings announcement, analysts from BMO Capital and Morgan Stanley maintained their positive ratings on Shopify, raising their price targets to $190 and $192, respectively.
Market Reaction: Despite the positive earnings report, Shopify shares experienced a slight decline of 0.03%, closing at $173.80.
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Analyst Views on SHOP
Wall Street analysts forecast SHOP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SHOP is 180.62 USD with a low forecast of 140.00 USD and a high forecast of 200.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
31 Analyst Rating
18 Buy
13 Hold
0 Sell
Moderate Buy
Current: 143.640
Low
140.00
Averages
180.62
High
200.00
Current: 143.640
Low
140.00
Averages
180.62
High
200.00
About SHOP
Shopify Inc. (Shopify) is a Canada-based global commerce company. The Company provides essential Internet infrastructure for commerce, offering tools to start, grow, market and manage a retail business of any size. It provides platforms and services that are engineered and delivers a shopping experience for consumers online, in store and everywhere in between. Its software enables merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces. The Company's Shopify platform provides merchants with a single view of their business across all of their sales channels and enables them to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing, all from one integrated back office. The Shopify's platform operates across 175 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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