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While I’ll agree it is wise to be cautious when a stock trades at a triple-digit price-to-earnings ratio, this factor alone doesn’t mean that a big drop for SHOP is just around the corner. There may be strong points to the SHOP stock bear case, yet there are also strong counters to these arguments. Again, the bears are making a strong argument, but whether it is the correct argument is another question entirely. After last month’s rise, fueled by both a solid quarterly earnings report, plus news of Shopify’s sale of its logistics business to Flexport, this stock has gone up too far, too soon, pushing it to too rich of a valuation (194.3 times forward earnings).īesides valuation worries, stock market commentators across the internet have pointed out other factors that suggest lower prices ahead for SHOP, such as rising competitive risks. Yet one of these analysts (Atlantic Equities’ Kunaal Malde) raises a very valid concern. Yes, only two out of the 37 sell-siders rating Shopify give it a “sell” rating. Of greater concern, though, may be the steadily increasing bearishness among analysts and commentators alike for SHOP.

Per MarketBeat, most analysts rate SHOP stock a “hold,” with just 13 out of 37 analysts rating it a buy. However, the same can’t be said about the sell-side community. The market at-large remains very bullish on this stock. Continued Bullishness, but Growing BearishnessĪlthough Shopify shares have not gone on a tear since they spiked higher during May, the stock has continued to trade at elevated prices.

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