Why did Shopify (SHOP) stock move recently?

On 8/6/2026, Shopify moved +26.0% — Shopify surged after Q2 revenue rose 34% YoY to $3.58 billion, beating estimates, and its Q3 outlook (low-thirties percent revenue growth) topped Wall Street expectations. This is MarketChacha's decoded reason from filings and credible news; it is education, not buy/sell advice.

Is Shopify (SHOP) overvalued or fairly valued?

MarketChacha shows Shopify's valuation in context — a trailing P/E of about 81.2, a forward P/E of about 53.0, a price-to-book of about 13.2 — alongside its revenue and profit growth and whether reported profit converts into operating cash, so you can judge value for yourself. MarketChacha does not issue ratings, price targets, or buy/sell advice.

Does Shopify's reported profit turn into cash?

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash. MarketChacha computes this cash-conversion check (1.36×) from reported figures — education, not a rating.

What is Shopify's revenue?

Shopify reported revenue of $11.6B for FY2025, with net profit of $1.2B, per official filings.

What is the share price of Shopify (SHOP)?

Shopify last traded at $129.96 (+0.1% on the day), as of 9/16/2026 — a delayed quote shown for education, not investment advice.

Shopify

SHOP · NYSE · E-commerce/Tech · United States

Snapshot

TickerSHOP

ExchangeNYSE

SectorE-commerce/Tech

IndustrySoftware - Application

CountryUnited States

Employees7,600

HeadquartersOttawa, Canada

Websitewww.shopify.com

Filings tracked18

About Shopify

Shopify Inc., a commerce technology company, provides tools to start, scale, market, and run a business of various sizes in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The Company offers Shopify platform that enables merchants 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 for running their business across all of their sales channels, including web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces. It also provides Shopify Payments, a fully integrated payment processing service that allows merchants to accept and process payment cards online and offline. In addition, the company engages in the sale of themes and apps; shipping labels through Shopify Shipping; point-of-sale hardware; advertising on the Shopify App Store; and Shop Campaigns for buyer acquisitions, as well as registration of domain names. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is based in Ottawa, Canada.

Who owns it

Insiders0.2%
Institutions73.2%
Public & other26.6%

2,360 institutional holders

Ownership breakdown from public market data.

Top holders

Capital International Investors4.54%
FMR, LLC3.90%
Invesco Ltd.3.03%
Capital World Investors2.82%
Vanguard Capital Management LLC2.82%
BAILLIE GIFFORD & CO2.35%
Morgan Stanley2.11%
Price (T.Rowe) Associates Inc2.05%

Largest institutional holders — last updated 6/30/2026.

Forensic scorecard

No major accounting red flags in the fundamentals we have — profit is backed by cash and returns look healthy.

Cash conversion1.36×

Over 3 years, operating cash flow fully covered reported profit — earnings are backed by real cash.

Net margin trend1.9% → 10.7%

Margin has expanded by about 8.8 points — the business is getting more profitable.

Growth qualityrev 28% · PAT 205%

Profit growth is broadly tracking revenue growth — the earnings trend looks operational rather than one-off.

Computed by MarketChacha from reported figures (SEC XBRL). Education, not a rating or recommendation.

What's expected next

Next quarter

Rev $4.7B · EPS 0.65

Est. earnings growth +34.4%

Next fiscal year

Rev $19.2B · EPS 2.45

Est. earnings growth +28.2%

Analyst consensus estimates — not the company's own guidance.

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Financials at a glance

Source: SEC XBRL

Annual

Quarterly · last 8

Revenue (FY2025)

$11.6B

Net margin

10.7%

ROE

9.1%

Revenue CAGR (2y)

+27.9%

Profit CAGR (2y)

+205.4%

EPS (FY2025)

0.94

Net profit (FY2025)

$1.2B

Ask MarketChacha about SHOP

Get a cited, plain-English answer — the “why”, not just data. Finance research only, never buy/sell advice.

Why it moved

Aug 6, 2026
Shopify surged after Q2 revenue rose 34% YoY to $3.58 billion, beating estimates, and its Q3 outlook (low-thirties percent revenue growth) topped Wall Street expectations.
source 1 ↗· confidence: high
Aug 5, 2026
Shopify's Q2 revenue rose ~34% YoY to $3.58 billion, beating estimates, and the company raised full-year revenue growth and free-cash-flow margin guidance, guiding Q3 revenue growth to a low-thirties percentage rate.
source 1 ↗source 2 ↗· confidence: high
Jul 9, 2026
Shopify shares rose with no single major company-specific catalyst reported in filings or credible coverage; the move appears driven by broader market sentiment and anticipation ahead of Q2 earnings due in August.
source 1 ↗source 2 ↗· confidence: low
Jul 1, 2026
Shopify shares rose after the company expanded its share repurchase authorization by an additional $3 billion (to a total of $5 billion), combined with ongoing AI-enabled product updates and Shop Pay expansion supporting revenue growth.
source 1 ↗source 2 ↗· confidence: medium
Jun 26, 2026
No specific company catalyst identified in filings or recent coverage; the move appears to align with broader market or sector sentiment.
· confidence: low
Jun 24, 2026
No specific company catalyst identified in recent filings or today's coverage; the move appears to align with broader sector or market sentiment.
· confidence: low

Daily moves with the verified reason behind them. Education only — not investment advice.

On MarketChacha

Posts about SHOP

Financials

Yearly

Period	Revenue	Net profit	EPS	Net margin	ROE
FY2025	$11.6B	$1.2B	0.94	10.7%	9.1%
FY2024	$8.9B	$2.0B	1.55	22.7%	17.5%
FY2023	$7.1B	$132.0M	0.10	1.9%	1.5%

Quarterly

Period	Revenue	Net profit	EPS	Net margin
2026Q2	$3.6B	$1.5B	1.16	41.9%
2026Q1	$3.2B	$-581.0M	-0.45	-18.3%
2025Q3	$2.8B	$264.0M	0.20	9.3%
2025Q2	$2.7B	$906.0M	0.69	33.8%
2025Q1	$2.4B	$-682.0M	-0.53	-28.9%
2024Q3	$2.2B	$828.0M	0.64	38.3%
2024Q2	$2.0B	$171.0M	0.13	8.4%
2024Q1	$1.9B	$-273.0M	-0.21	-14.7%

Figures as reported, in reporting currency. Source: SEC XBRL.

Filings & announcements

2026

8-K — Results of operations, Exhibits
SEC8/5/2026material
10-Q filing
SEC8/5/2026
8-K — Executive/director change, Exhibits
SEC7/2/2026material
8-K — Shareholder vote results, Other events, Exhibits
SEC6/16/2026material
8-K — Reg FD disclosure, Exhibits
SEC6/2/2026material
8-K — Other events, Exhibits
SEC5/8/2026material
8-K — Results of operations, Exhibits
SEC5/5/2026material
10-Q filing
SEC5/5/2026
10-K/A filing
SEC4/29/2026
8-K — Results of operations, Reg FD disclosure, Exhibits
SEC2/11/2026material
10-K filing
SEC2/11/2026

2025

8-K — Other events, Exhibits
SEC12/2/2025material
8-K — Results of operations, Exhibits
SEC11/4/2025material
10-Q filing
SEC11/4/2025
8-K — Executive/director change
SEC10/9/2025material
8-K — Executive/director change
SEC9/10/2025material
8-K — Results of operations, Exhibits
SEC8/6/2025material
10-Q filing
SEC8/6/2025

In the news

Education and discussion only — not investment advice. Financials from official filings (SEC/BSE) and reported company statements; market figures (delayed market data) are delayed and shown for reference only. Verify with the linked sources before acting.