Shopify Inc's latest earnings report shows strong performance, exceeding expectations and demonstrating notable growth in revenue and profit margins.
On August 5, 2026, Shopify Inc (SHOP.TO) announced its second-quarter earnings, reporting an adjusted earnings per share (EPS) of 42 cents, which is 5% higher than the consensus estimate of 40 cents. This marks the third time in the last four quarters that Shopify has beaten expectations, underscoring the company's solid growth path in a competitive software industry.
Recent earnings trend
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Shopify Inc
SHOP.TO
SHOP.TO
Shopify Inc
WealthAwesomeMarket cap
$262.09B
P/E
141.2x
52W high
$253.10
52W low
$129.01
1W change
+20.35%
Beta
2.59
Analyst Price Targets
Based on analyst covering SHOP
Wall Street analysts forecast SHOP stock price to fall 9.6% over the next 12 months.
Consensus
Moderately BearishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$186.53
-9.6% Upside
Current Price
C$206.42
Last close
Analyst ratings and price targets are updated periodically. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on SHOP's historical volatility
30-Day Vol
71.6%
Annualized
90-Day Vol
65.9%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$246.78
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$219.08 | C$171.12 – C$280.47 |
| 60 trading days | C$232.52 | C$163.95 – C$329.75 |
| 90 trading days | C$246.78 | C$160.87 – C$378.56 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 32 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-05 | 0.4200 | 0.4000 | +5.0% |
| 2026-03-31 | 2026-05-05 | 0.3600 | 0.3300 | +9.1% |
| 2025-12-31 | 2026-02-11 | 0.5786 | 0.5100 | +13.5% |
| 2025-09-30 | 2025-11-04 | 0.2011 | 0.3400 | -40.9% |
| 2025-06-30 | 2025-08-06 | 0.6921 | 0.2900 | +138.7% |
| 2025-03-31 | 2025-05-08 | -0.5258 | 0.1700 | -409.3% |
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Investor takeaway: Shopify's impressive performance highlights its resilience and adaptability in the fast-changing e-commerce landscape. Investors should think about how this earnings beat might affect future growth and market positioning.
Shopify Reports 33.7% Revenue Growth and 42 Cents EPS
The company achieved a notable year-over-year revenue increase, reaching $3.58 billion, showcasing its ability to gain market share even in a tough environment.
Bull case
Shopify's revenue growth of 33.7% year over year is driven by increased gross merchandise volume (GMV) and a higher penetration of payment solutions, positioning the company for ongoing expansion. The effective integration of AI tools and robust merchant solutions further strengthen its competitive advantage.
Bear case
Despite the positive earnings report, Shopify's high P/E ratio of 141.24 raises concerns about its valuation. Additionally, potential economic challenges and rising competition in the e-commerce sector could affect its future growth.
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