SHOP Stock Price Predictions: Where Will Shopify Go After 20% Stumble?

Less than two weeks into 2022, financial markets have already seen their fair share of turbulence. As the omicron variant continues to spread, companies are forced to adapt and prepare for more uncertainty. Given how much Wall Street hates uncertainty, it’s hardly surprising that we’ve seen plenty of stocks tumble lately. One name that has made headlines recently is Shopify (NYSE:SHOP). This Canadian e-commerce innovator enjoyed significant growth as early pandemic trends came to shape the economy. And while SHOP stock’s growth hasn’t dropped off dramatically as these trends have reversed, recent declines have raised some questions regarding SHOP stock price predictions.

shopify logo sign on building facade

Source: Beyond The Scene /

After slipping earlier today, SHOP stock closed out Wednesday up 1%. This late growth spurt hasn’t been enough to pull it out of the red in other categories, though.

As of this writing, it is still down more than 16% for the month. When a previous year’s breakout stock starts to stumble, it’s easy to question if such patterns are an opportunity to buy the dip or if its bull run is over. Experts have made cases for why fellow early pandemic winner Peloton (NASDAQ:PTON) is likely done growing.

What do SHOP stock price predictions look like, though? In short, most experts have fairly mixed takes. Let’s take a look at what they are saying.

SHOP Stock Price Predictions

  • Matthew Pfau of William Blair recently upgraded SHOP from “market perform” to “outperform.” He believes “Shopify can increase its revenue more than twice the e-commerce growth rate over the next several years, resulting in 30%-plus growth in a bull-case scenario.”
  • Brent Bracelin of Piper Sander is similarly bullish on the stock, issuing a “buy” rating and a $1,400 price target.
  • Scott Devitt of Stifel is less bullish on SHOP. Although he maintains a “buy” rating, he lowered his price target from $1,550 to $1,300.
  • Kunaal Malde of Atlantic Equities is considerably more bearish, though. The analyst recently downgraded SHOP to “neutral” from “overweight.” Malde describes Shopify as a “best-in-class ecommerce platform.” Unfortunately, he thinks all of its growth this year is already priced in.

On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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