Ankündigung • Aug 06
Shopify Provides Earnings Guidance for the the Third Quarter of 2026 Shopify provided earnings guidance for the the third quarter of 2026. For the period, the company expects Revenue to grow at a low-thirties percentage rate on a year-over-year basis. Reported Earnings • Aug 05
Second quarter 2026 earnings released: EPS: US$1.16 (vs US$0.70 in 2Q 2025) Second quarter 2026 results: EPS: US$1.16 (up from US$0.70 in 2Q 2025). Revenue: US$3.58b (up 34% from 2Q 2025). Net income: US$1.50b (up 66% from 2Q 2025). Profit margin: 42% (up from 34% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Jul 27
Now 29% overvalued The stock has been flat over the last 90 days, currently trading at US$124. The fair value is estimated to be US$95.67, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 29% per annum over the same time period. Ankündigung • Jul 09
Shopify Inc. to Report Q2, 2026 Results on Aug 05, 2026 Shopify Inc. announced that they will report Q2, 2026 results Pre-Market on Aug 05, 2026 Ankündigung • Jul 04
Shopify Inc. Announces Board and Committee Changes Shopify Inc. announced that on July 2, 2026, Prashanth Mahendra-Rajah, a member of Shopify Inc.'s board of directors and Chair of the Audit Committee of the Board, informed the Company of his resignation from the Board effective immediately. Prashanth Mahendra-Rajah has accepted a full time position with the U.S. Department of Commerce. Joe Natale, Chair of the Board and the Company's Lead Independent Director, is expected to serve as the Chair of the Audit Committee of the Board following Prashanth Mahendra-Rajah's resignation. Ankündigung • Jun 17
Shopify Inc. Approves Election of Jeanne Dewitt Grosser to the Board of Directors Shopify Inc. at its AGM held on June 16, 2026, approved the election of Jeanne DeWitt Grosser to the Board of Directors. Following the meeting, the Board of Directors intends to select Tobias Lütke to continue to serve as Chair of
the Board of Directors and Joseph Natale to continue to serve as Lead Independent Director. Ankündigung • May 15
Sezzle Inc. Provides Update On Antitrust Case Against Shopify Inc Sezzle Inc. announced that the United States District Court for the District of Minnesota has issued an Opinion and Order granting in part and denying in part Shopify Inc.’s motion to dismiss Sezzle’s antitrust action. The Court allowed Sezzle’s core claims to proceed, including claims for monopolization and attempted monopolization under Section 2 of the Sherman Act, unlawful restraint of trade under Section 1 of the Sherman Act, parallel claims under the Minnesota Antitrust Law of 1971, and a claim under the Minnesota Deceptive Trade Practices Act. The Court dismissed without prejudice Sezzle’s unlawful tying claim under Section 1 of the Sherman Act and the corresponding portion of Sezzle’s state-law antitrust claim. The remaining claims will proceed. The case, captioned Sezzle Inc. v. Shopify Inc., File No. 25-cv-2395 (ECT/SGE), is pending in the United States District Court for the District of Minnesota. The Court’s ruling is procedural in nature and does not constitute a finding of liability against Shopify. Ankündigung • May 07
Shopify Provides Earnings Guidance for the the Second Quarter of 2026 Shopify provided earnings guidance for the the second quarter of 2026. For the period, the company expects Revenue to grow at a high-twenties percentage rate on a year-over-year basis. Reported Earnings • May 06
First quarter 2026 earnings released: US$0.45 loss per share (vs US$0.53 loss in 1Q 2025) First quarter 2026 results: US$0.45 loss per share (improved from US$0.53 loss in 1Q 2025). Revenue: US$3.17b (up 34% from 1Q 2025). Net loss: US$581.0m (loss narrowed 15% from 1Q 2025). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 91% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • May 01
Now 22% overvalued Over the last 90 days, the stock has fallen 5.1% to US$127. The fair value is estimated to be US$103, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Buy Or Sell Opportunity • Apr 15
Now 27% overvalued Over the last 90 days, the stock has fallen 21% to US$125. The fair value is estimated to be US$98.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Ankündigung • Apr 15
Shopify Inc. to Report Q1, 2026 Results on May 05, 2026 Shopify Inc. announced that they will report Q1, 2026 results Pre-Market on May 05, 2026 Ankündigung • Mar 25
Shopify Inc., Annual General Meeting, Jun 16, 2026 Shopify Inc., Annual General Meeting, Jun 16, 2026. Buy Or Sell Opportunity • Mar 24
Now 25% overvalued Over the last 90 days, the stock has fallen 28% to US$122. The fair value is estimated to be US$97.66, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 19% per annum. Earnings are also forecast to grow by 25% per annum over the same time period. Buy Or Sell Opportunity • Feb 20
Now 23% overvalued Over the last 90 days, the stock has fallen 13% to US$130. The fair value is estimated to be US$106, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 24% per annum over the same time period. Reported Earnings • Feb 12
Full year 2025 earnings released: EPS: US$0.95 (vs US$1.57 in FY 2024) Full year 2025 results: EPS: US$0.95 (down from US$1.57 in FY 2024). Revenue: US$11.6b (up 30% from FY 2024). Net income: US$1.23b (down 39% from FY 2024). Profit margin: 11% (down from 23% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. Ankündigung • Feb 12
Shopify Inc. Provides Earnings Guidance for the First Quarter of 2026 Shopify Inc. provided earnings guidance for the first quarter of 2026. for the quarter, the company expects Revenue to grow at a low-thirties percentage rate on a year-over-year basis, similar to Fourth Quarter 2025. Ankündigung • Feb 11
Shopify Inc. (NasdaqGS:SHOP) announces an Equity Buyback for 5% of its issued share capital, for $2,000 million. Shopify Inc. (NasdaqGS:SHOP) announces a share repurchase program. Under the program, the company will repurchase up to $2,000 million worth of its Class A subordinate voting shares, not exceeding 5% of it's issued and outstanding Class A subordinate voting shares. The program has no fixed expiration date. New Risk • Feb 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (US$9.7m sold). Ankündigung • Jan 28
Shopify Inc. to Report Q4, 2025 Results on Feb 11, 2026 Shopify Inc. announced that they will report Q4, 2025 results Pre-Market on Feb 11, 2026 Recent Insider Transactions • Dec 15
Chief Operating Officer recently sold US$6.7m worth of stock On the 11th of December, Jessica Hertz sold around 41k shares on-market at roughly US$163 per share. This transaction amounted to 95% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Jessica has been a net seller over the last 12 months, reducing personal holdings by US$7.9m. Ankündigung • Nov 05
Shopify Inc. Provides Earnings Guidance for the Fourth Quarter of 2025 Shopify Inc. provided earnings guidance for the fourth quarter of 2025. The company expects Fourth Quarter revenue growth to be in the mid to high 20s year-over-year. Reported Earnings • Nov 04
Third quarter 2025 earnings released: EPS: US$0.20 (vs US$0.64 in 3Q 2024) Third quarter 2025 results: EPS: US$0.20 (down from US$0.64 in 3Q 2024). Revenue: US$2.84b (up 32% from 3Q 2024). Net income: US$264.0m (down 68% from 3Q 2024). Profit margin: 9.3% (down from 38% in 3Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 116% per year but the company’s share price has only increased by 72% per year, which means it is significantly lagging earnings growth. Ankündigung • Oct 14
Shopify Inc. to Report Q3, 2025 Results on Nov 04, 2025 Shopify Inc. announced that they will report Q3, 2025 results Pre-Market on Nov 04, 2025 Ankündigung • Oct 10
Shopify Inc. Appoints Jessica Hertz as Chief Operating Officer, Effective October 9, 2025 On October 9, 2025, Shopify Inc. announced the appointment of Jessica Hertz as the Chief Operating Officer of the Company, effective October 9, 2025. Prior to her appointment as COO, Ms. Hertz, age 43, served as Shopify’s General Counsel and has been with the Company since 2021. As General Counsel, Ms. Hertz oversaw Shopify’s global legal, communications, policy, talent, and trust teams. Prior to joining Shopify, Ms. Hertz held roles in the White House and previously served in positions at Facebook and at the law firm of Jenner & Block LLP. Ms. Hertz holds a J.D. from the University of Chicago Law School and an A.B. from Harvard College. Recent Insider Transactions • Aug 09
VP of Product & COO recently sold US$12m worth of stock On the 7th of August, Kasra Nejatian sold around 81k shares on-market at roughly US$153 per share. This transaction amounted to 40% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Kasra has been a net seller over the last 12 months, reducing personal holdings by US$25m. Reported Earnings • Aug 06
Second quarter 2025 earnings released: EPS: US$0.70 (vs US$0.13 in 2Q 2024) Second quarter 2025 results: EPS: US$0.70 (up from US$0.13 in 2Q 2024). Revenue: US$2.68b (up 31% from 2Q 2024). Net income: US$906.0m (up 430% from 2Q 2024). Profit margin: 34% (up from 8.4% in 2Q 2024). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 112% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Aug 04
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 30% to US$122. The fair value is estimated to be US$99.01, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Ankündigung • Jul 16
Shopify Inc. to Report Q2, 2025 Results on Aug 06, 2025 Shopify Inc. announced that they will report Q2, 2025 results Pre-Market on Aug 06, 2025 Ankündigung • Jul 11
Shopify Inc. (NasdaqGS:SHOP) acquired Ritual Technologies Inc. from Georgian, Insight Partners, Mantella Venture Partners, and Greylock Partners. Shopify Inc. (NasdaqGS:SHOP) acquired Ritual Technologies Inc. from Georgian, Insight Partners, Mantella Venture Partners, and Greylock Partners recently. Jason Myler of Brown Gibbons Lang & Company acted as financial advisor to Ritual Technologies Inc. Buy Or Sell Opportunity • Jun 24
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 5.8% to US$109. The fair value is estimated to be US$90.36, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Ankündigung • Jun 19
Shopify Inc. Elects Joe Natale as Director Shopify Inc. at its annual meeting of shareholders held on June 17, 2025 elected Joe Natale as Director. Ankündigung • Jun 10
Sezzle Files Antitrust Action Against Shopify Sezzle Inc. announced that it has filed a lawsuit against Shopify Inc. in the U.S. District Court for the District of Minnesota asserting federal and state antitrust violations. The lawsuit alleges that Shopify has been engaging and continues to engage in monopolistic and anticompetitive business practices in order to stifle competition for “buy now, pay later” service options on Shopify’s e-commerce platform. Sezzle is seeking an injunction to prevent Shopify from continuing its anticompetitive conduct that limits consumer choice and stifles fair market competition. The suit filed by the Company seeks treble damages. Buy Or Sell Opportunity • Jun 06
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 13% to US$112. The fair value is estimated to be US$91.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are also forecast to grow by 21% per annum over the same time period. Recent Insider Transactions • May 16
General Counsel recently sold US$1.1m worth of stock On the 14th of May, Jessica Hertz sold around 10k shares on-market at roughly US$112 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$27m more than they bought in the last 12 months. Reported Earnings • May 09
First quarter 2025 earnings released: US$0.53 loss per share (vs US$0.21 loss in 1Q 2024) First quarter 2025 results: US$0.53 loss per share (further deteriorated from US$0.21 loss in 1Q 2024). Revenue: US$2.36b (up 27% from 1Q 2024). Net loss: US$682.0m (loss widened 150% from 1Q 2024). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Board Change • Apr 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director David Hansson was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$98.91, the stock trades at a forward P/E ratio of 88x. Average forward P/E is 23x in the IT industry in the United Kingdom. Total returns to shareholders of 111% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$94.92 per share. Ankündigung • Apr 17
Shopify Inc. to Report Q1, 2025 Results on May 08, 2025 Shopify Inc. announced that they will report Q1, 2025 results Pre-Market on May 08, 2025 Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$81.43, the stock trades at a forward P/E ratio of 68x. Average forward P/E is 17x in the IT industry in the United Kingdom. Total returns to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$105 per share. Buy Or Sell Opportunity • Apr 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 30% to US$76.00. The fair value is estimated to be US$98.21, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are also forecast to grow by 9.2% per annum over the same time period. Ankündigung • Mar 28
Shopify Inc., Annual General Meeting, Jun 17, 2025 Shopify Inc., Annual General Meeting, Jun 17, 2025. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$109, the stock trades at a forward P/E ratio of 96x. Average forward P/E is 21x in the IT industry in the United Kingdom. Total returns to shareholders of 46% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$98.76 per share. Ankündigung • Mar 15
Shopify Inc. (NYSE:SHOP) acquired Vantage Discovery, Inc. Shopify Inc. (NYSE:SHOP) acquired Vantage Discovery, Inc. on March 14, 2025.
Shopify Inc. (NYSE:SHOP) completed the acquisition of Vantage Discovery, Inc. on March 14, 2025. New Risk • Mar 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Significant insider selling over the past 3 months (US$12m sold). Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$93.00, the stock trades at a forward P/E ratio of 83x. Average forward P/E is 21x in the IT industry in the United Kingdom. Total returns to shareholders of 78% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$97.81 per share. Recent Insider Transactions • Feb 14
VP of Product & COO recently sold US$6.0m worth of stock On the 12th of February, Kasra Nejatian sold around 50k shares on-market at roughly US$121 per share. This transaction amounted to 21% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Kasra has been a net seller over the last 12 months, reducing personal holdings by US$16m. Buy Or Sell Opportunity • Feb 13
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 18% to US$127. The fair value is estimated to be US$102, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Earnings per share has grown by 39%. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 10% per annum over the same time period. Ankündigung • Feb 13
Shopify Inc. Provides Earnings Guidance for the First Quarter of 2025 Shopify Inc. provided earnings guidance for the first quarter of 2025. Revenue to grow at a mid-twenties percentage rate on a year-over-year basis. Reported Earnings • Feb 12
Full year 2024 earnings released: EPS: US$1.57 (vs US$0.10 in FY 2023) Full year 2024 results: EPS: US$1.57 (up from US$0.10 in FY 2023). Revenue: US$8.88b (up 26% from FY 2023). Net income: US$2.02b (up US$1.89b from FY 2023). Profit margin: 23% (up from 1.9% in FY 2023). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Dec 06
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 78% to US$119. The fair value is estimated to be US$98.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Recent Insider Transactions • Nov 15
VP of Product & COO recently sold US$3.4m worth of stock On the 13th of November, Kasra Nejatian sold around 31k shares on-market at roughly US$107 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Kasra has been a net seller over the last 12 months, reducing personal holdings by US$6.5m. New Risk • Nov 14
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 27% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: US$0.64 (vs US$0.56 in 3Q 2023) Third quarter 2024 results: EPS: US$0.64 (up from US$0.56 in 3Q 2023). Revenue: US$2.16b (up 26% from 3Q 2023). Net income: US$828.0m (up 15% from 3Q 2023). Profit margin: 38% (down from 42% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 12% per year. Buy Or Sell Opportunity • Nov 12
Now 33% overvalued after recent price rise Over the last 90 days, the stock has risen 60% to US$114. The fair value is estimated to be US$85.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Ankündigung • Oct 22
Shopify Inc. to Report Q3, 2024 Results on Nov 12, 2024 Shopify Inc. announced that they will report Q3, 2024 results Pre-Market on Nov 12, 2024 Buy Or Sell Opportunity • Sep 06
Now 23% undervalued Over the last 90 days, the stock has risen 8.5% to US$66.60. The fair value is estimated to be US$86.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 17% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Board Change • Sep 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director James Scott was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Aug 10
VP of Product & COO recently sold US$3.1m worth of stock On the 8th of August, Kasra Nejatian sold around 48k shares on-market at roughly US$64.84 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Kasra's only on-market trade for the last 12 months. Reported Earnings • Aug 08
Second quarter 2024 earnings released: EPS: US$0.13 (vs US$1.02 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.13 (up from US$1.02 loss in 2Q 2023). Revenue: US$2.05b (up 21% from 2Q 2023). Net income: US$171.0m (up US$1.48b from 2Q 2023). Profit margin: 8.4% (up from net loss in 2Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Ankündigung • Aug 07
Shopify Inc. Provides Earnings Guidance for the Third Quarter of 2024 Shopify Inc. provided earnings guidance for the third quarter of 2024. For the quarter, the company expects revenue to grow at a low-to-mid-twenties percentage rate on a year-over-year basis. Buy Or Sell Opportunity • Jul 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to US$60.58. The fair value is estimated to be US$77.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Ankündigung • Jul 17
Shopify Inc. to Report Q2, 2024 Results on Aug 07, 2024 Shopify Inc. announced that they will report Q2, 2024 results Pre-Market on Aug 07, 2024 New Risk • Jun 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Ankündigung • Jun 08
Shopify Inc. acquired Threads Inc. Shopify Inc. acquired Threads Inc. on June 6, 2024.Shopify Inc. completed the acquisition of Threads Inc. on June 6, 2024. Ankündigung • Jun 06
Shopify Inc. Approves Board Elections Shopify Inc. announced at annual meeting of shareholders of held on June 4, 2024, the shareholders elected Prashanth Mahendra-Rajah and Lulu Cheng Meservey as directors of the company. Buy Or Sell Opportunity • May 11
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 35% to US$58.90. The fair value is estimated to be US$74.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company became loss making. Ankündigung • May 09
Shopify Inc. Provides Revenue Guidance for the Second Quarter of 2024 Shopify Inc. provided revenue guidance for the second quarter of 2024. For the quarter, the company expects Revenue to grow at a high-teens percentage rate on a year-over-year basis, which translates into a year-over-year growth rate in the low-to-mid-twenties when adjusting for the 300 to 400 basis points impact from the sale of logistics businesses. Reported Earnings • May 08
First quarter 2024 earnings released: US$0.21 loss per share (vs US$0.053 profit in 1Q 2023) First quarter 2024 results: US$0.21 loss per share (down from US$0.053 profit in 1Q 2023). Revenue: US$1.86b (up 23% from 1Q 2023). Net loss: US$273.0m (down US$341.0m from profit in 1Q 2023). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 24
Now 20% overvalued Over the last 90 days, the stock has fallen 6.2% to US$74.42. The fair value is estimated to be US$61.78, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 35% per annum over the same time period. Ankündigung • Apr 10
E House Studio, LLC, Shopify Inc. (NYSE:SHOP) and Recharge Partner Agency acquired Commerce12, LLC. E House Studio, LLC, Shopify Inc. (NYSE:SHOP) and Recharge Partner Agency acquired Commerce12, LLC on April 10, 2024. Periscope Equity supported the transaction with an investment.
E House Studio, LLC, Shopify Inc. (NYSE:SHOP) and Recharge Partner Agency completed the acquisition of Commerce12, LLC on April 10, 2024. Ankündigung • Mar 23
Shopify Inc., Annual General Meeting, Jun 04, 2024 Shopify Inc., Annual General Meeting, Jun 04, 2024. Reported Earnings • Feb 13
Full year 2023 earnings released: EPS: US$0.10 (vs US$2.73 loss in FY 2022) Full year 2023 results: EPS: US$0.10 (up from US$2.73 loss in FY 2022). Revenue: US$7.06b (up 26% from FY 2022). Net income: US$132.0m (up US$3.59b from FY 2022). Profit margin: 1.9% (up from net loss in FY 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jan 30
Now 59% overvalued after recent price rise Over the last 90 days, the stock has risen 204% to US$145. The fair value is estimated to be US$91.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company became loss making. Ankündigung • Jan 24
Shopify Inc. to Report Q4, 2023 Results on Feb 13, 2024 Shopify Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 13, 2024 New Risk • Nov 25
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$16m This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.5% average weekly change). Significant insider selling over the past 3 months (US$16m sold). Recent Insider Transactions • Nov 25
Director recently sold US$16m worth of stock On the 22nd of November, Toby Shannan sold around 236k shares on-market at roughly US$69.35 per share. This transaction amounted to 42% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$17m more than they bought in the last 12 months. New Risk • Nov 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 9.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Nov 02
Third quarter 2023 earnings released: EPS: US$0.56 (vs US$0.13 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.56 (up from US$0.13 loss in 3Q 2022). Revenue: US$1.71b (up 26% from 3Q 2022). Net income: US$718.0m (up US$876.4m from 3Q 2022). Profit margin: 42% (up from net loss in 3Q 2022). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance. Ankündigung • Oct 13
Shopify Inc. to Report Q3, 2023 Results on Nov 02, 2023 Shopify Inc. announced that they will report Q3, 2023 results Pre-Market on Nov 02, 2023 Ankündigung • Aug 05
Shopify Inc. Provides Earnings Guidance for the Third Quarter 2023 Shopify Inc. provided earnings guidance for the third quarter 2023. For the third quarter, revenue to grow at a low-twenties percentage rate on a year-over-year basis, which translates into a year over-year growth rate in the mid-twenties, when adjusting for the 300 to 400 basis points headwind from the sale of logistics businesses; Gross margin percentage to be approximately two to three percentage points higher than the second quarter 2023 gross margin of 49.3%. Reported Earnings • Aug 03
Second quarter 2023 earnings released: US$1.02 loss per share (vs US$0.95 loss in 2Q 2022) Second quarter 2023 results: US$1.02 loss per share (further deteriorated from US$0.95 loss in 2Q 2022). Revenue: US$1.69b (up 31% from 2Q 2022). Net loss: US$1.31b (loss widened 8.9% from 2Q 2022). Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 8.4% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Ankündigung • Jul 13
Shopify Inc. to Report Q2, 2023 Results on Aug 02, 2023 Shopify Inc. announced that they will report Q2, 2023 results on Aug 02, 2023 Ankündigung • Jun 07
Flexport, Inc. completed the acquisition of an unknown majority stake in Shopify Fulfillment Network from Shopify Inc. (NYSE:SHOP). Flexport, Inc. entered into securities purchase agreement to acquire an unknown majority stake in Shopify Fulfillment Network from Shopify Inc. (NYSE:SHOP) on May 3, 2023. Under the terms of the agreement, Shopify will receive stock representing a 13% equity interest in Flexport, on top of its existing equity interest. In a related transaction, Shopify also entered into an agreement to sell 6RS, part of its logistics business. Employees related to the logistics business will also join Flexport. The transaction is subject to receipt of regulatory approval and is expected to close in the second quarter of 2023. Morgan Stanley & Co. LLC acted as financial advisor to Shopify Inc. (NYSE:SHOP). Stuart Rogers of ALSTON & BIRD LLP acted as legal advisor for Morgan Stanley. Christopher M Barlow and Ryan J Dzierniejko of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor for Shopify Fulfillment Network.
Flexport, Inc. completed the acquisition of an unknown majority stake in Shopify Fulfillment Network from Shopify Inc. (NYSE:SHOP) on June 6, 2023. In connection with the sale, Shopify received stock representing a 13% equity interest in Flexport, which is incremental to its existing equity interest in Flexport. Ankündigung • May 31
Samfiru Tumarkin LLP Launches $130 Million Class Action Against Shopify for Breach of Contract on Severance Pay Samfiru Tumarkin LLP initiated a $130-million class action lawsuit against global e-commerce giant Shopify, following allegations of the company's illegal attempt to slash severance packages after a nationwide mass layoff.On May 4, Shopify CEO Tobi Lutke announced a significant reduction in the workforce, resulting in the termination of 23% of its employees. Shopify initially assured the affected employees of generous severance packages, which many accepted. However, to the shock and disappointment of those impacted, Shopify advised employees that, despite accepting a severance package, the company would not honour the agreed-upon terms. The company then presented outgoing staff with a second severance offer, substantially reducing the agreed-upon severance amounts, often by tens of thousands of dollars. Iain Russell, the lead plaintiff in the class action, who dedicated over seven years to Shopify, was one of the 2,000 employees unexpectedly impacted by the company's downsizing. After accepting an initial severance package that appeared to meet Shopify's legal obligations, Russell was later informed that the company would not abide by the terms he accepted. Instead, he was instructed to agree to a second offer with a potential reduction of more than $50,000. Ankündigung • May 06
Flexport, Inc. entered into securities purchase agreement to acquire an unknown majority stake in Shopify Fulfillment Network from Shopify Inc. (NYSE:SHOP). Flexport, Inc. entered into securities purchase agreement to acquire an unknown majority stake in Shopify Fulfillment Network from Shopify Inc. (NYSE:SHOP) on May 3, 2023. Under the terms of the agreement, Shopify will receive stock representing a 13% equity interest in Flexport, on top of its existing equity interest. In a related transaction, Shopify also entered into an agreement to sell 6RS, part of its logistics business. Employees related to the logistics business will also join Flexport. The transaction is subject to receipt of regulatory approval and is expected to close in the second quarter of 2023. Reported Earnings • May 06
First quarter 2023 earnings released: EPS: US$0.053 (vs US$1.17 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.053 (up from US$1.17 loss in 1Q 2022). Revenue: US$1.51b (up 25% from 1Q 2022). Net income: US$68.0m (up US$1.54b from 1Q 2022). Profit margin: 4.5% (up from net loss in 1Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Reported Earnings • Feb 17
Full year 2022 earnings released: US$2.73 loss per share (vs US$2.34 profit in FY 2021) Full year 2022 results: US$2.73 loss per share (down from US$2.34 profit in FY 2021). Revenue: US$5.60b (up 21% from FY 2021). Net loss: US$3.46b (down 219% from profit in FY 2021). Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Ankündigung • Feb 17
Shopify Inc. Provides Financial Guidance for the First Quarter of 2023 Shopify Inc. provided financial guidance for the first quarter of 2023. For the quarter, the company expects revenue growth in the high-teen percentages on a year over year basis. Ankündigung • Jan 26
Shopify Inc. to Report Q4, 2022 Results on Feb 15, 2023 Shopify Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 15, 2023 Recent Insider Transactions • Dec 08
President recently sold US$157k worth of stock On the 5th of December, Harley Finkelstein sold around 4k shares on-market at roughly US$43.43 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite the recent sale, Harley has been a net buyer over the last 12 months, purchasing a net total of US$1.3m worth of shares. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Fidji Simo was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 08
Founder recently bought US$10.0m worth of stock On the 31st of October, Tobias Lütke bought around 283k shares on-market at roughly US$35.34 per share. This transaction amounted to 81% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Tobias has been a buyer over the last 12 months, purchasing a net total of US$20m worth in shares. Reported Earnings • Oct 27
Third quarter 2022 earnings released: US$0.13 loss per share (vs US$0.92 profit in 3Q 2021) Third quarter 2022 results: US$0.13 loss per share (down from US$0.92 profit in 3Q 2021). Revenue: US$1.37b (up 22% from 3Q 2021). Net loss: US$158.4m (down 114% from profit in 3Q 2021). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 17% growth forecast for the IT industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Jul 28
Second quarter 2022 earnings released: US$0.95 loss per share (vs US$0.71 profit in 2Q 2021) Second quarter 2022 results: US$0.95 loss per share (down from US$0.71 profit in 2Q 2021). Revenue: US$1.30b (up 16% from 2Q 2021). Net loss: US$1.20b (down 237% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 29%, compared to a 19% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jun 10
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 40%. The fair value is estimated to be US$442, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 27% per annum. Earnings is also forecast to grow by 96% per annum over the same time period. Buying Opportunity • May 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 44%. The fair value is estimated to be US$472, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 49% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 27% per annum. Earnings is also forecast to grow by 97% per annum over the same time period. 
