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Shopify Inc. (SHOP) live price

Discover historical price data for Shopify Inc. stocks and take your profit on price changes.

SHOP

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28.086 USD 4.91595%
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If you want to invest in the e-commerce sector, take a look at Shopify stock. The company shows good financial results and is attracting more and more new users. However, it is worthwhile to study the platform's quotation history and analysts' forecasts before you start investing.

Shopify logo

Basic information about the company

Shopify is a Canadian software developer. The company was founded in 2006. Its founders were Ottawa Tobias Lütke, Daniel Weinland and Scott Lake. Initially the developers wanted to open an online snowboarding equipment store, so they developed a platform using the Ruby on Rails framework template themselves. In June 2006, the project was launched as Shopify. In 2009, the Shopify App Store was launched. A year later, the company launched a smartphone app for the Apple App Store.

Shopify stock was listed on the stock exchange in 2015. At the time of its initial public offering, the asset was trading at $17. After the IPO, the Stock Shopify asset appeared on listings on the New York Stock Exchange and the Toronto Stock Exchange. After the initial public offering, the company's value increased by $131 million.

Company Products

The company operates in the field of e-commerce. Its main activity is the development of software for online stores. The Shopify POS application is available for the platform's clients. It allows them to synchronize data and inventory, which allows them to manage offline, land-based stores. At the same time, owners of these stores can manage their business from any device using a single account.

The company provides customers with a starter package that includes ready-made online store design templates, marketing and SEO tools. Users of the Shopify platform can use modern tools to start an online store literally in a few clicks.

The latest news on the stock price

Shopify's stock price hit an all-time high in November 2021. By August 2022, SHOP's stock price had fallen by about 80%. Analysts attribute this drop in stock price to a decline in interest in the e-commerce industry since the pandemic began. A rising interest rate in the summer of 2022 is also a bad sign for investors.

Shopify's stock price in the second half of 2022 does not show strong growth. The CFO of this software developer said during the release of financial statements for the second quarter of this year that the company is now looking for ways to cut costs. One option to minimize costs is to lay off 10 percent of the company's employees.

On June 29, Shopify held a 10:1 stock split. At the beginning of June 2022, the asset was trading at $377. After the split procedure at Shopify, the stock became worth 50 times less.

On August 9, 2022, Shopify's share price fell 7.6% due to alarming expectations from Reuters. This resource published data suggesting that the platform's customer growth could slow significantly in the near future. To refute these concerns, Shopify needs to at least double the number of new customers in the second half of 2022 compared to the first half of this year.

✅ Benefits of investing in Shopify

  • Despite the rapid rise in inflation in 2022, the total merchandise turnover (GMV) on the Shopify platform remains high. In 2021, GMV is up 47% over 2020. In the first quarter of 2022, the company's GMV was up 16% compared to the same period in 2021.
  • The popularity of the Shopify platform is actively supported by retailers who oppose large marketplaces such as Amazon and eBay. The company served 162,200,200 merchants when it went public in 2015. In 2022, that number reached several million.
  • In 2022, Shopify's stock price forecasts, the company is actively supported by bulls. Investors, who are focused on asset price appreciation, see this tech giant's future stock price growth prospects.
  • From 2015 to 2021, the company's annual revenue increased from $205 million to $4.61 billion. Analysts estimate that in 2022, Shopify's revenue will increase by 19% compared to last year. In 2023, experts expect the platform's revenue to increase by 25%.

❌ Disadvantages of investing in Shopify

  • Shopify stock prices are far from their all-time high in 2022. The company's securities were especially strong during the coronavirus pandemic. This was because the demand for e-commerce services increased during the lockdowns. In August 2022, analysts noted that the sector had returned to its pre-pandemic growth rate.
  • The technology giant is investing heavily in 2022. With the expectation of a recession in the global economy, such overspending has a negative impact on Shopify's financial performance.

Financial performance

In the second quarter of 2022, the company's revenue increased 16% year over year to $1.3 billion. Monthly recurring revenue reached $107.2 million, as of June 30, 2022. For the same period of 2021, the figure was $95.1 million. This increase in monthly recurring revenue can be explained by the increased number of sellers on the platform. Gross profit rose to $655.6 million, up from $620.9 million in Q2 2021.

Subscription Solutions brought in $366.4 million in revenue in Q2 2022. Merchant Solutions revenue reached $928.6 million, up 18% year-over-year. This is driven by GMV growth and the continued introduction of new technology solutions such as Shopify Payments, Shopify Capital and Shopify Markets.

Shopify stock price forecast for 2023

Considering the technical analysis data, we can establish that analysts still see Shopify stock as a promising asset going forward. For example, in August 2022, the price to sales (P/S) ratio was at 10.3. In 2020, that ratio was a P/S of 60.9. This means that investors can invest in this asset, focusing on profit in the long term. Thus, RBC analysts forecast the growth of the company's quotes to $40 in July 2023.

Answers to Frequently Asked Questions

How has the COVID-19 pandemic affected SHOP's stock price?

After the pandemic began in 2020, Shopify stock began to appreciate. This was due to the active movement of businesses online. 

How does an individual invest in Shopify stock?

Go to your personal DotBig account to get started in the real stock market.

How has SHOP stock changed over the past year?

From August 2021 to August 2022, Shopify stock has more than doubled in price. On September 2, 2022, the asset was trading at $31.

Can Shopify stock be traded automatically?

To trade Shopify stock in automatic mode, run the copy trading platform from DotBig. You can also use trading signals from a broker or plug-in advisor programs.

What other companies in the e-commerce sector can I choose to invest in?

Amazon and eBay are also companies you can choose to invest in.

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