Shopify (NASDAQ:SHOP) Shares Down 7.1% – Here’s What Happened

Posted by George Bondi on May 13th, 2026

Shopify Inc. (NASDAQ:SHOP – Get Free Report) (TSE:SHOP)’s share price was down 7.1% during trading on Monday . The company traded as low as $102.38 and last traded at $102.54. Approximately 18,398,657 shares traded hands during mid-day trading, an increase of 62% from the average daily volume of 11,331,143 shares. The stock had previously closed at $110.41.

Trending Headlines about Shopify

Here are the key news stories impacting Shopify this week:

Positive Sentiment: Analysts pointed to accelerating revenue growth, strong free cash flow, and rapid adoption of Shopify’s AI-powered merchant tools as evidence that the business momentum remains solid. Q1 revenue grew 34% year over year, GMV rose 35%, and AI-driven traffic/orders are surging. Shopify: Growth Acceleration (Rating Upgrade)
Positive Sentiment: Several partners and ecosystem vendors announced expanded Shopify integrations, including mobile listing management, bookstore commerce tooling, and merchant analytics support, underscoring continued platform adoption and third-party demand. SureDone Launches Mobile App, Bringing Amazon, eBay and Shopify Listing Management Into One Mobile Experience Emersoft Expands Internationally Through Partnership with Gardners to Power UK Bookstore Commerce on Shopify Bazaarvoice Becomes Shopify Certified Technology Partner, Bringing Deep Customization & World’s Largest Content Network to Merchants Noibu Deepens Investment in Shopify Plus, Bringing Ecommerce Analytics & Monitoring Platform to Plus Merchants Across Every Build
Neutral Sentiment: Commentary around Shopify’s recent weakness framed the selloff as potentially overdone, with one article highlighting a low-risk options setup for traders rather than a change in fundamentals. Use Shopify Stock Weakness For A Potential Low-Risk And High-Return Setup
Neutral Sentiment: Analysts also published a piece asking how low Shopify stock could go, emphasizing that the shares have already fallen sharply this year and recently touched 52-week lows. How Low Can Shopify Stock Go?
Negative Sentiment: A U.S. District Court allowed key antitrust claims in Sezzle’s case against Shopify to move forward, keeping monopolization and restraint-of-trade allegations alive and raising ongoing legal/regulatory uncertainty. Shopify Antitrust Case Moves Forward Keeping Platform Power In Focus Sezzle Provides Update on Antitrust Case Against Shopify

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SHOP shares. Mizuho upgraded Shopify from a “neutral” rating to an “outperform” rating and set a $150.00 price target for the company in a research note on Thursday, February 12th. Wells Fargo & Company decreased their price target on Shopify from $166.00 to $144.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Benchmark decreased their price target on Shopify from $195.00 to $145.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Evercore set a $135.00 price target on Shopify in a research note on Wednesday, February 11th. Finally, Phillip Securities upgraded Shopify from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.42.

Get Our Latest Stock Analysis on SHOP

Shopify Price Performance

The business has a fifty day moving average price of $120.19 and a two-hundred day moving average price of $139.21. The firm has a market capitalization of $124.41 billion, a price-to-earnings ratio of 94.46, a price-to-earnings-growth ratio of 2.81 and a beta of 2.64.

Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $998.78. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Shopify had a return on equity of 12.07% and a net margin of 10.77%. On average, research analysts predict that Shopify Inc. will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SHOP. Knights of Columbus Asset Advisors LLC purchased a new position in Shopify during the third quarter worth approximately $4,110,000. Principal Financial Group Inc. boosted its position in Shopify by 16.3% during the third quarter. Principal Financial Group Inc. now owns 450,895 shares of the software maker’s stock worth $67,006,000 after purchasing an additional 63,300 shares in the last quarter. Triton Financial Group Inc purchased a new position in Shopify during the third quarter worth approximately $1,931,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in Shopify by 65.5% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 158,514 shares of the software maker’s stock worth $23,557,000 after purchasing an additional 62,743 shares in the last quarter. Finally, M&T Bank Corp boosted its position in Shopify by 37.1% during the fourth quarter. M&T Bank Corp now owns 81,082 shares of the software maker’s stock worth $13,051,000 after purchasing an additional 21,945 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

About Shopify

(Get Free Report)

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.