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Shopify (SHOP, Cloud & web infrastructure) Stock Valuation & Fair Value Poor on forward returns

Shopify (SHOP, Cloud & web infrastructure) trades at a current P/E of 97.5, about 74% below its historical normal valuation, with a forward growth estimate of 29.8% and a PEG of 3.27. Priced at its historical normal P/E of 369.2 on the same blended earnings, the 2026-10-09 close of $170.85 corresponds to about $647 a share. This is a valuation reference, not a price target.

DATA AS OF 2026-10-12
Current P/E
97.5
Normal P/E
369.2
PEG
3.27
Fwd growth
29.8%
Div yield
0.0%
RSI (14)
76.8
Overbought
Technical context
  • Price $179.22 at the 2026-10-12 close, 20.3% above the 20-day average ($148.93) and 22.7% above the 50-day ($146.06).
  • RSI (14) at 76.8.
  • 52-week range $95.40 to $179.22: the price is at the high and 87.9% above the low.

The Street vs SeerForecast

Wall Street's mean price target for SHOP is $173.19 across 48 analysts, 3.4% below the current price. The average analyst rating is Buy. Our SeerForecast read of the same stock, formed without analyst targets: poor on forward returns. When the two disagree, start your digging there.

Valuation flags

Verdict history

tickerseer's rating has been poor on forward returns since 2026-06-14.

Current P/E and rating by weekCurrent P/E moved from 78.6 to 97.5 between 2026-06-12 and 2026-10-09, against a normal P/E of 369.2, with 0 rating changes over 35 recorded weeks.2026-06-12: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-06-142026-06-16: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-06-162026-06-18: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-06-212026-07-02: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-07-022026-07-06: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-07-062026-07-09: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-07-092026-07-10: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-07-122026-07-13: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-07-132026-07-14: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-07-142026-07-20: P/E 78.6, Poor on forward returns, recalculated for the week of 2026-07-202026-07-22: P/E 75.5, Poor on forward returns, recalculated for the week of 2026-07-222026-07-24: P/E 75.5, Poor on forward returns, recalculated for the week of 2026-07-252026-07-27: P/E 75.5, Poor on forward returns, recalculated for the week of 2026-07-272026-07-31: P/E 75.5, Poor on forward returns, recalculated for the week of 2026-07-312026-07-31: P/E 71.0, Poor on forward returns, recorded live 2026-08-032026-08-07: P/E 71.0, Poor on forward returns, recalculated for the week of 2026-08-072026-08-07: P/E 89.5, Poor on forward returns, recorded live 2026-08-102026-08-14: P/E 89.5, Poor on forward returns, recalculated for the week of 2026-08-142026-08-14: P/E 90.6, Poor on forward returns, recorded live 2026-08-172026-08-21: P/E 90.6, Poor on forward returns, recalculated for the week of 2026-08-212026-08-21: P/E 86.3, Poor on forward returns, recorded live 2026-08-242026-08-27: P/E 86.3, Poor on forward returns, recalculated for the week of 2026-08-272026-08-28: P/E 86.3, Poor on forward returns, recalculated for the week of 2026-08-282026-08-28: P/E 86.3, Poor on forward returns, recalculated for the week of 2026-08-302026-08-28: P/E 87.8, Poor on forward returns, recorded live 2026-08-312026-09-04: P/E 87.8, Poor on forward returns, recalculated for the week of 2026-09-052026-09-11: P/E 73.3, Poor on forward returns, recorded live 2026-09-142026-09-18: P/E 73.3, Poor on forward returns, recalculated for the week of 2026-09-192026-09-18: P/E 73.0, Poor on forward returns, recorded live 2026-09-212026-09-25: P/E 81.2, Poor on forward returns, recalculated for the week of 2026-09-262026-09-25: P/E 81.2, Poor on forward returns, recorded live 2026-09-282026-10-02: P/E 86.3, Poor on forward returns, recalculated for the week of 2026-10-032026-10-02: P/E 86.3, Poor on forward returns, recorded live 2026-10-052026-10-09: P/E 97.5, Poor on forward returns, recalculated for the week of 2026-10-102026-10-09: P/E 97.5, Poor on forward returns, recorded live 2026-10-12100.0200.0300.0Jun 12Jul 12Aug 11Sep 9Oct 9Normal P/E 369.2
Poor on forward returns

Not every point was recorded live. Points marked recalculated are worked out from the metrics tickerseer archived that week.

Selected weeks: the first, the latest, and the cheapest and dearest.

WeekCurrent P/EPremium to normal P/ERating
2026-06-14P/E 78.6-79%Poor on forward returns (recalculated)
2026-08-03P/E 71.0-81%Poor on forward returns
2026-10-10P/E 97.5-74%Poor on forward returns (recalculated)
2026-10-12P/E 97.5-74%Poor on forward returns ← now
Show all 35 weeks
WeekCurrent P/EPremium to normal P/ERating
2026-06-14P/E 78.6-79%Poor on forward returns (recalculated)
2026-06-16P/E 78.6-79%Poor on forward returns (recalculated)
2026-06-21P/E 78.6-79%Poor on forward returns (recalculated)
2026-07-02P/E 78.6-79%Poor on forward returns (recalculated)
2026-07-06P/E 78.6-79%Poor on forward returns (recalculated)
2026-07-09P/E 78.6-79%Poor on forward returns (recalculated)
2026-07-12P/E 78.6-79%Poor on forward returns (recalculated)
2026-07-13P/E 78.6-79%Poor on forward returns (recalculated)
2026-07-14P/E 78.6-79%Poor on forward returns (recalculated)
2026-07-20P/E 78.6-79%Poor on forward returns (recalculated)
2026-07-22P/E 75.5-79%Poor on forward returns (recalculated)
2026-07-25P/E 75.5-79%Poor on forward returns (recalculated)
2026-07-27P/E 75.5-79%Poor on forward returns (recalculated)
2026-07-31P/E 75.5-79%Poor on forward returns (recalculated)
2026-08-03P/E 71.0-81%Poor on forward returns
2026-08-07P/E 71.0-81%Poor on forward returns (recalculated)
2026-08-10P/E 89.5-76%Poor on forward returns
2026-08-14P/E 89.5-76%Poor on forward returns (recalculated)
2026-08-17P/E 90.6-75%Poor on forward returns
2026-08-21P/E 90.6-75%Poor on forward returns (recalculated)
2026-08-24P/E 86.3-77%Poor on forward returns
2026-08-27P/E 86.3-77%Poor on forward returns (recalculated)
2026-08-28P/E 86.3-77%Poor on forward returns (recalculated)
2026-08-30P/E 86.3-77%Poor on forward returns (recalculated)
2026-08-31P/E 87.8-76%Poor on forward returns
2026-09-05P/E 87.8-76%Poor on forward returns (recalculated)
2026-09-14P/E 73.3-80%Poor on forward returns
2026-09-19P/E 73.3-80%Poor on forward returns (recalculated)
2026-09-21P/E 73.0-80%Poor on forward returns
2026-09-26P/E 81.2-78%Poor on forward returns (recalculated)
2026-09-28P/E 81.2-78%Poor on forward returns
2026-10-03P/E 86.3-77%Poor on forward returns (recalculated)
2026-10-05P/E 86.3-77%Poor on forward returns
2026-10-10P/E 97.5-74%Poor on forward returns (recalculated)
2026-10-12P/E 97.5-74%Poor on forward returns ← now

Frequently asked questions

Is Shopify stock overvalued?

At a current P/E of 97.5 versus its historical normal P/E of 369.2, Shopify trades about 74% below its typical valuation, with a PEG of 3.27 on 29.8% forward growth. tickerseer currently rates it poor on forward returns.

What is Shopify's fair value and PEG?

Shopify trades at a current P/E of 97.5 against a historical normal P/E of 369.2, a PEG of 3.27, and a forward growth estimate of 29.8%. Priced at its historical normal P/E of 369.2 on the same blended earnings, the 2026-10-09 close of $170.85 corresponds to about $647 a share. This is a valuation reference, not a price target.

Has tickerseer's rating of Shopify changed?

tickerseer's rating has been poor on forward returns since 2026-06-14.

What is the analyst price target for Shopify?

The mean Wall Street price target for Shopify is $173.19 across 48 analysts, 3.4% below the current price. tickerseer's SeerForecast verdict is formed independently of analyst targets.

Industry: Cloud & web infrastructure. Create a free account to see the full analysis: the SeerAI score, its five quality sub-scores, valuation history, and the AI research note. Options setups and metric history are part of the paid plans.

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