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
Advertisement
Shopify Inc
SHOP.TO
SHOP.TO
Shopify Inc
WealthAwesomeMarket cap
$307.01B
P/E
117.1x
52W high
$253.10
52W low
$129.01
1W change
+10.41%
Beta
2.63
Analyst Price Targets
Based on analyst covering SHOP · as of Oct 9, 2026
Wall Street analysts forecast SHOP stock price to rise 1.4% over the next 12 months.
Consensus
NeutralBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$237.56
+1.4% Upside
Previously C$237.31 on Oct 8, 2026
Current Price
C$234.19
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on SHOP's historical volatility
30-Day Vol
55.8%
Annualized
90-Day Vol
57.2%
Annualized
Trend (90d)
+50.0%
Annualized drift
90d Mean
C$279.98
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$248.55 | C$205.05 – C$301.28 |
| 60 trading days | C$263.80 | C$200.96 – C$346.28 |
| 90 trading days | C$279.98 | C$200.63 – C$390.69 |
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.
Advertisement
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% |
Advertisement
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.
Best next step
Keep exploring this topic
If you want to go deeper, these are the most useful follow-up pages and tools for this topic.
Broker comparison
Best trading platforms in Canada
Compare $0-commission brokers before you act on a ticker story.
Safe cash
Best GIC rates in Canada
If the story makes you want to de-risk, compare guaranteed rates next.
HISA roundup
Best high-interest savings accounts
Keep dry powder in a no-fee savings account instead of chequing.
TFSA room
Check TFSA contribution room
Shelter the next contribution before you buy.
Advertisement
Wealth Awesome
Timely coverage of Canadian stocks, earnings, dividends, and market movers for DIY investors. Stories are checked against exchange data and public filings.
View Full Profile →✅ Reviewed by Certified Financial Professionals
This content has been reviewed by CFA® charterholders and Certified Financial Planners (CFP®) with over a decade of experience in Canadian financial markets. All information is fact-checked against official Canadian sources and regulations.
Why these credentials matter: CFA® charterholders complete 900+ hours of rigorous study in investment analysis and ethics. CFP® professionals are held to the highest standards of financial planning competency and fiduciary duty in Canada.
⚠️ Professional Disclaimer
This content is for educational purposes only and should not be considered personalized financial advice. While our team brings professional expertise, individual circumstances vary. For personalized guidance, consult with a qualified financial advisor, tax professional, or mortgage specialist.
