What is Shopify's expected EPS for Q2 2026?

Analysts expect Shopify (SHOP) to report consensus EPS of approximately $0.40 for Q2 2026. Estimates range from $0.30 to $0.47.

What revenue do analysts expect for Shopify in Q2 2026?

The consensus revenue forecast for Shopify (SHOP) in Q2 2026 is approximately $3.44B. Forecasts range from $3.4B to $3.51B.

How many analysts cover Shopify?

23 analysts contribute to the Shopify (SHOP) Q2 2026 consensus estimate.

Has Shopify beaten earnings estimates recently?

Shopify beat analyst EPS estimates in 2 of the last 2 quarters. Shopify beat revenue estimates in 2 of 2. In the most recent quarter (Q1 2026), Shopify EPS beat by 7.9% and revenue beat by 1.4%.

When does Shopify report Q2 2026 earnings?

Shopify (SHOP) is expected to report Q2 2026 earnings on August 5, 2026 before market open.

SHOP Q2 2026 earnings estimate

Consensus EPS · Q2 2026

$0.40

Consensus revenue · Q2 2026

$3.4B

Analysts

Expected report

Aug 5, 2026

Before open

Upcoming earnings

Locks in 12 days 13 hours · BMO: Locks 8:00 PM ET previous day

Revenue$3.4B$3.4B – $3.5B

EPS$0.40$0.30 – $0.47

What to watch

Analyst ratings: Upgrades trending

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Analyst consensus

Based on estimates from 23 analysts.

Metric	Low	Consensus	High
Revenue	$3.4B	$3.4B	$3.5B
EPS	$0.30	$0.40	$0.47
EBITDA	$596.3M	$601.5M	$608.6M
EBIT	$564.5M	$569.5M	$576.1M
Net income	$433.6M	$512.5M	$551.9M

Revenue$3.4B
EPS$0.40
EBITDA$601.5M
EBIT$569.5M
Net income$512.5M

Historical beat/miss

Actual reported results vs. analyst consensus at the time. Positive = beat, negative = miss.

Period	Rev. actual	Rev. est.	Rev. surprise	EPS actual	EPS est.	EPS surprise
Q1 2026	$3.1B	$3.1B	+1.4%	$0.36	$0.33	+7.9%
Q4 2025	$3.7B	$3.6B	+1.8%	$0.57	$0.51	+12.6%

Q1 2026+1.4%+7.9%
Q4 2025+1.8%+12.6%

Estimate revisions

How analyst consensus estimates have changed over the past 90 days.

Collecting data

Revision trends appear once we have collected at least two daily snapshots for this period.

Community vs analysts

See how the TickerLeague crowd's forecast stacks up against Wall Street.

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Analyst price target

Based on price targets from 3 analysts.

Low: $126.00
Consensus: $154.91
Median: $150.00
High: $191.00
Current: $118.42
Upside: +30.8%

Upside calculated vs most recent trading price of $118.42.

Consensus across all covering analysts. See the ranking ›

$154.91+30.81%

Analyst ratings

Consensus: Buy — based on 64 analyst ratings.

Buy 42Hold 19Sell 3

24-month trend

Recent analyst actions

Date	Firm	Action	From	To
Jul 21, 2026	Rothschild & Co	downgrade	Buy	Neutral
Jul 13, 2026	Jefferies	upgrade	Hold	Buy
Jul 10, 2026	Stifel	upgrade	Hold	Buy
May 6, 2026	Wells Fargo	maintain	Overweight	Overweight
May 6, 2026	UBS	maintain	Neutral	Neutral
May 6, 2026	RBC Capital	maintain	Outperform	Outperform
May 6, 2026	DA Davidson	maintain	Buy	Buy
May 6, 2026	Citizens	maintain	Market Outperform	Market Outperform
May 6, 2026	Citigroup	maintain	Buy	Buy
May 6, 2026	Canaccord Genuity	maintain	Buy	Buy

Jul 21, 2026Rothschild & CoNeutral
Jul 13, 2026JefferiesBuy
Jul 10, 2026StifelBuy
May 6, 2026Wells FargoOverweight
May 6, 2026UBSNeutral
May 6, 2026RBC CapitalOutperform
May 6, 2026DA DavidsonBuy
May 6, 2026CitizensMarket Outperform
May 6, 2026CitigroupBuy
May 6, 2026Canaccord GenuityBuy

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