Should I buy Shopify stock in 2025?

Why trust HelloSafe?

At HelloSafe, our specialist has been closely monitoring Shopify’s performance for over three years. Every month, tens of thousands of users across Singapore rely on us to interpret market trends and highlight the best investment opportunities. Our analyses are created for informational purposes only and do not constitute investment advice. In line with our ethical standards, we have never received, and will never accept, any compensation from Shopify.

What is Shopify?

How much is Shopify stock?

The price of Shopify stock is falling this week. Currently trading at USD 94.00, the stock has dipped 0.53% over the past 24 hours and declined about 1.2% for the week, with a market capitalization of USD 122.49 billion.

Shopify does not pay dividends, and its stock beta of 2.67 signals notably high volatility. Investors in Singapore should be aware that while Shopify offers strong growth prospects, price swings can be more pronounced compared to the broader market.

Our full analysis on Shopify stock

Shopify Inc. (SHOP) has been meticulously reviewed through a holistic analysis that synthesizes its latest financial results, share price evolution over the preceding three years, and its competitive stance in the digital commerce space. By leveraging a proprietary blend of financial indicators, technical signals, macroeconomic market data, and competitive benchmarking, we present a comprehensive view that surfaces both immediate and strategic opportunities. So, why might Shopify stock once again become a prime entry point into high-growth e-commerce technology for the sophisticated Singaporean investor in 2025?

Recent Performance and Market Context

Share Price Movement: Resilience and Renewal

Shopify's stock price currently stands at $94.00 USD (as of May 9, 2025), reflecting a remarkable 93.6% gain over the past 12 months from a 52-week low of $48.56. On a medium-term horizon, the stock has climbed +5.8% in the last six months, though there has been slight recent consolidation, with a 1.2% decline over the past week. Short-term price action is characterized by increased volatility, with a 24-hour change of -0.53%, yet this dynamic appears to be a healthy correction following 2024’s exceptional rally. The high daily trading volume of 23.98 million shares signals persistent market interest and underlines Shopify's excellent liquidity profile.

Positive Recent Events: Growth Amidst Complexity

Q1 2025 results, released in early May, decisively outperformed consensus estimates on the revenue front, rising to $2.36 billion—a robust +27% year-over-year growth. Notably, this was about 2% above analyst expectations, showcasing Shopify’s ability to consistently exceed forecasts. The company also achieved its seventh consecutive quarter of double-digit free cash flow margins (15%), a critical marker of sustained profitability.

Furthermore, Shopify’s Gross Merchandise Volume (GMV) has accelerated for a seventh quarter, underscoring the firm’s deepening share in core merchant activity worldwide. CEO Tobias Lütke’s recent engagement with macroeconomic policy issues—notably Canadian government responses to US tariffs—demonstrates a leadership agile enough to navigate challenging trade environments.

Favorable Macro and Sector Backdrop

The secular tailwind in digital commerce remains firmly intact. As global e-commerce adoption deepens, Shopify stands as a market leader uniquely positioned to capitalize on digital transformation and omni-channel retail modernization. In the Singapore context—where digital transformation is a central government priority—Shopify’s global-first platform fits naturally into both established enterprise and entrepreneurial ecosystems seeking to access borderless commerce.

Technical Analysis

Key Indicators: Consolidation at a Bullish Juncture

Technical signals offer a nuanced but ultimately optimistic structure:

• RSI (14-day) at 46.6 indicates a neutral stance, neither overbought nor oversold—a potentially attractive entry zone after previous exuberance.
• MACD at -0.87 offers a short-term sell signal, however, this must be interpreted in context with the broader trend.
• Moving Averages:
• The current price is marginally under the 20-day ($94.04) and 50-day ($96.00) moving averages, signaling recent short-term consolidation.
• Crucially, Shopify sits above its 100-day ($93.85) and 200-day ($89.67) moving averages, reflecting underlying longer-term bullish momentum.

Support, Resistance, and Reversal Signals

• Key support levels at $92.36 and $88.14 have proven resilient, absorbing recent downward tests.
• Resistance at $95.82 and $99.23 highlights clear upside targets as the next bullish triggers.
• The positive slope on longer-term moving averages suggests that Shopify is setting up for its next leg up—a technical base may be forming at these levels.

Short-/Medium-Term Momentum

Despite the short-term technical softness, the underlying structure remains favorable. The stock’s medium- to long-term trend is robust and the present technical reset around $94 may represent an excellent strategic accumulation point ahead of anticipated Q2 catalysts.

Fundamental Analysis

Revenue Growth and Profitability

Shopify continues to deliver best-in-class revenue growth:

• +27% YoY revenue expansion in Q1 2025, with guidance for mid-twenties percent growth into Q2 and beyond.
• Gross profit growth is expected in the high teens percent, a healthy margin profile for a company scaling its SaaS and payments ecosystem.
• Free cash flow margin in the mid-teens for seven quarters is exceptional among high-growth tech peers.

Net income remains negative (-$682 million for Q1), but this stems in part from planned platform investments and non-cash charges, aligning with the growth-first playbook typical among software scale leaders.

Valuation: Premium, Yet Justified

• PER of 60.65 positions Shopify at a premium to broad market averages, but this is well-supported by forward growth rates, high margins, and improving operating leverage.
• Compared to other high-growth SaaS and e-commerce firms, Shopify’s valuation remains consistent with sectoral leadership and long-term margin potential.
• The absence of a dividend may deter income-focused investors, but for growth buyers, the reinvestment strategy is a net positive.

Structural Strengths

• Technology leadership: Shopify is the reference e-commerce platform for brands worldwide.
• Total addressable market: Expansion into cross-border commerce and fintech creates vast new opportunities.
• Brand power and adaptability: The Shopify brand is synonymous with entrepreneurship and digital enablement.
• Innovation: Notable R&D efforts allow frictionless checkout, headless commerce, embedded fintech, and AI-driven analytics.

Competitive Position

• Dominant leader in direct-to-consumer enablement, now serving millions of merchants in 175+ countries.
• Competitive moat is reinforced by scale, platform effects, and high switching costs for established users.
• The shift by global retailers and SMBs toward integrated platforms in Asia and elsewhere continues to reinforce Shopify’s relevance for Singaporean investors looking for international exposure.

Volume and Liquidity

Market Confidence and Depth

Shopify’s average trading volume of ~24 million shares per day is a strong indicator of sustained institutional and retail interest. This level of liquidity supports ready entry and exit, a key consideration for both tactical and strategic investors. In addition:

• Shopify’s large float ensures that price discovery is active and fair—a plus for those seeking dynamic valuation and low transaction friction.
• Periods of increased volume, such as after earnings announcements or product launches, consistently coincide with upward price momentum, reinforcing the view that the market responds positively to fundamental progress.

Catalysts and Positive Outlook

Visible Catalysts

• Product innovation: The company is actively rolling out new commerce features (AI-powered commerce, cross-border payments, logistics solutions) that create tangible value for merchants.
• Global expansion: Shopify’s localization efforts and partnerships in Asia, the UK, and Latin America are unlocking new merchant cohorts.
• ESG focus: Ongoing initiatives around sustainability, privacy, and governance are increasingly relevant for institutional buyers, including sovereign wealth funds in Singapore.
• Strategic flexibility: Recent management actions, such as platform adaptation to navigate tariffs and regulations, demonstrate operational agility.

Macro and Sector Winds

• Digital transformation and resilient e-commerce growth remain secular tailwinds.
• Regulatory environments in major markets are favorable to platform companies with compliance prowess—Shopify’s proactive stance positions it as a partner of choice for regulated industries.
• As consumption rebounds in North America, Europe, and APAC post-pandemic, Shopify is structurally advantaged by its diversified merchant base.

Investment Strategies: Arguments for Entry at Every Horizon

• Short-term: The ongoing technical consolidation below key resistance levels may represent an excellent tactical entry point for nimble buyers ahead of Q2 results and anticipated positive forward guidance.
• Medium-term: With expectations of continued 20–25% top-line growth and clear operational momentum, investors seeking multi-quarter appreciation may find this an ideal juncture to position for the next rally.
• Long-term: For those targeting digital commerce exposure and willing to accept volatility, Shopify’s entrenched market presence, product innovation, and recurring revenue orientation offer a sustained growth runway that appears compelling even at premium multiples.
• Technical positioning: Current price action hovering above the 100- and 200-day moving averages suggests a strong base, making this a strategic accumulation point for investors looking to build exposure at a technical low.

Is it the Right Time to Buy Shopify?

Shopify currently aligns an exceptional combination of strengths:

• Sustained high revenue growth, with forward guidance remaining robust
• Improving cash flow and profitability metrics unmatched among its peer set
• Structural competitive advantages, evident in its platform, brand, and global reach
• Strong liquidity and deep float, providing a transparent, dynamic market
• Compelling growth catalysts—from new product innovation to global expansion and regulatory adaptability

While volatility and a premium valuation require acknowledgment, the fundamentals and technical setup justify renewed investor interest. With sectoral and macro trends remaining strongly favorable, Shopify seems to represent an excellent opportunity for those seeking high-quality e-commerce growth exposure, whether trading tactically or building a long-term portfolio.

In summary, Shopify is impressively positioned for potential further upside. For discerning, growth-oriented investors in Singapore and globally, the timing appears highly favorable to consider Shopify as a strategic portfolio addition at current levels—an investment that combines leadership, innovation, and access to digital commerce’s continued rise.

How to buy Shopify stock in Singapore?

Buying Shopify stock online is both straightforward and secure for retail investors in Singapore, thanks to the availability of regulated brokers that comply with MAS requirements. You have two main methods to access the market: spot buying, where you own the actual shares, and CFD trading, which allows you to speculate on price movements using leverage. Each method has distinct advantages and costs, making it important to select what best fits your goals. For a closer look at competitive broker fees and features, see our broker comparison further down the page.

Spot Buying

A cash (spot) purchase means you buy actual Shopify shares, becoming a part-owner of the company. This method best suits investors aiming for long-term growth without the risks associated with leverage. When buying US-listed shares like Shopify from Singapore, brokers typically charge a fixed commission per order—commonly around USD $3 to $5 per trade.

Informations importantes

Example:
If Shopify's share price is $94.00 USD, with a SGD/USD exchange rate of 1.35 (approx.), $1,000 SGD is about $740 USD. After deducting a ~$5 USD brokerage fee, you can buy approximately 7 shares ($735/$94 ≈ 7 shares).
✔️ Gain Scenario:
If Shopify's price rises by 10% to $103.40, your 7 shares are then worth $723.80 ($103.40 × 7), up from $658 ($94 × 7). That's a gross gain of about $65.80 USD, or roughly +10% on your original investment—before accounting for currency fluctuations or commissions.

Trading via CFD

CFD (Contract for Difference) trading lets you speculate on Shopify's price movements without owning the actual shares. CFDs are popular for their leverage—typically up to 5x on large US tech stocks—allowing you to amplify gains (and also risks). Fees for CFD trading include the bid/ask spread and overnight financing if holding positions longer than a day.

Informations importantes

Example:
You want to trade $1,000 SGD (about $740 USD) on Shopify CFDs with 5x leverage—so your market exposure is $3,700 USD.
✔️ Gain Scenario:
If Shopify rises by 8%, your position gains 8% × 5 = 40%. On your $740 USD stake, that’s a gain of $296 USD (excluding spreads and overnight fees). Keep in mind that losses are also magnified, and overnight holding charges may apply.

Final Advice

Before investing, it’s vital to compare brokers’ commissions, spreads, and currency conversion costs, as fees directly impact your returns. Review our up-to-date broker comparison further down this page for help in selecting the best fit for your needs. Ultimately, the choice between cash shares and CFDs depends on your financial goals, risk tolerance, and investment horizon. Take the time to consider which approach suits your strategy, and always invest wisely.

Our 7 tips for buying Shopify stock

The latest news about Shopify

Shopify's Q1 2025 results exceeded analyst expectations with 27% revenue growth and robust free cash flow margins. In the latest financial quarter, Shopify reported revenues of $2.36 billion, representing over 27% year-over-year growth and surpassing consensus forecasts by about 2%. The company maintained a free cash flow margin of 15%, marking the seventh consecutive quarter of double-digit performance on this key profitability measure. These results, against a backdrop of global economic uncertainty, underscore Shopify’s ability to sustain operational resilience and steady growth, positioning the stock favorably among technology investors.

Shopify continues to strengthen global expansion, increasing relevance for Singaporean merchants and cross-border sellers. Shopify’s platform, widely used by Singaporean entrepreneurs and regional SMEs, has expanded its capabilities to better handle international trade complexities—including tariffs and regulatory requirements—especially relevant as Singapore-based merchants target global markets. As the e-commerce ecosystem in Southeast Asia grows rapidly, Shopify’s advances in supporting cross-border commerce and providing robust infrastructure for businesses looking to export from Singapore have enhanced the region's digital economy, making the company particularly relevant to local analysts and investors.

Technical indicators reflect mixed short-term trends but support a bullish long-term bias for Shopify shares. Currently, Shopify’s stock trades at $94, below its 20-day and 50-day moving averages but above the 100-day and 200-day lines. While the MACD signal is negative and short-term performance this week was mildly negative (-1.2%), the longer-term trajectory remains positive, with the price up nearly 94% year-over-year and a bullish bias confirmed by its position above key longer moving averages. For risk-tolerant investors in Singapore, these technical signals suggest medium- to long-term opportunity despite short-term volatility.

Forward guidance from management anticipates continued high growth and sustained profitability into Q2 2025. Shopify’s leadership projects mid-twenties percentage revenue growth and high-teens gross profit growth for the next quarter, with free cash flow margins expected to persist in the mid-teens range. This level of visibility and confidence is notable against industry-wide uncertainty, signaling outperformance potential that resonates with investors focused on both growth and operational quality in the tech sector.

Shopify remains a leading enabler for Singapore’s digital transformation and regional e-commerce ambitions. Beyond financials, Shopify’s role in empowering Singapore’s push for digitization stands out. The platform’s accessibility, localized features, and ability to integrate with ASEAN payment gateways have made it a preferred solution for local brands expanding online. Its prominent position in Singapore’s e-commerce infrastructure supports government-led initiatives to promote innovation and digital commerce, enhancing its long-term relevance for professional investors in the region.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.