Shopify Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Shopify Inc. (NYSE:SHOP) will release earnings results for the second quarter before the opening bell on Wednesday, Aug. 6.

Analysts expect the Ottawa, Canada-based company to report quarterly earnings at 29 cents per share, up from 26 cents per share in the year-ago period. Shopify is projected to report quarterly revenue of $2.55 billion, compared to $2.04 billion a year earlier, according to data from Benzinga Pro.

On May 8, Shopify reported fiscal first-quarter results. The company’s quarterly revenue growth of 26.8% year over year to $2.36 billion beat the analyst consensus estimate of $2.33 billion.

Shopify shares rose 1.4% to close at $127.00 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Benchmark analyst Mark Zgutowicz maintained a Buy rating and raised the price target from $125 to $140 on Aug. 5, 2025. This analyst has an accuracy rate of 62%.
• Oppenheimer analyst Ken Wong maintained an Outperform rating and boosted the price target from $125 to $145 on July 28, 2025. This analyst has an accuracy rate of 71%.
• Keybanc analyst Justin Patterson maintained an Overweight rating and increased the price target from $115 to $145 on July 22, 2025. This analyst has an accuracy rate of 70%.
• CIBC analyst Todd Coupland maintained an Outperformer rating and raised the price target from $125 to $145 on July 18, 2025. This analyst has an accuracy rate of 73%.
• Baird analyst Colin Sebastian maintained an Outperform rating and boosted the price target from $110 to $120 on July 14, 2025. This analyst has an accuracy rate of 80%

Considering buying SHOP stock? Here’s what analysts think:

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