Shopify Stock Gains Ahead Of Wednesday Earnings Report

by | Feb 10, 2026 | General

Shopify Inc. (NYSE:SHOP) shares are trading higher during Tuesday’s premarket session, ahead of the company’s quarterly earnings announcement scheduled for Wednesday, before market open.

The stock is moving with broader market trends, as S&P 500 futures gain 0.1% while the Technology sector is experiencing a slight decline of 0.03%.

Shopify Struggles Against Technical Indicators

Currently, Shopify is trading approximately 11.4% below its 20-day simple moving average (SMA) and 21.2% below its 100-day SMA, suggesting that the stock is struggling to gain upward momentum in the short to medium term.

Over the past 12 months, shares have decreased by 1.25% and are positioned closer to their 52-week lows than highs, indicating a challenging market environment.

The RSI is at 31.51, which is considered neutral territory, while the MACD is below its signal line, indicating bearish pressure on the stock. This combination suggests mixed momentum, as the stock faces downward pressure despite the potential for recovery.

Key Support: $116.00

Key Resistance: $129.50

Shopify Earnings Preview and Analyst Sentiment

Shopify Inc. is set to report earnings on Feb. 11, 2026, with the following expectations.

  • EPS Estimate: 47 cents (Up from 44 cents YoY)
  • Revenue Estimate: $3.59 billion (Up from $2.81 billion YoY)
  • Valuation: P/E of 87.1x (Indicates premium valuation)

Analyst Consensus & Recent Actions:

The stock carries a Buy Rating with an average price forecast of $160.39. Recent analyst moves include:

  • BMO Capital: Outperform (Lowers Target to $150.00) (Feb. 9)
  • Scotiabank: Upgraded to Sector Outperform (Raises Target to $200.00) (Jan. 8)
  • Wolfe Research: Downgraded to Peer Perform (Jan. 6)

Shopify’s Mixed Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Shopify Inc. Class A subordinate voting shares, highlighting its strengths and weaknesses compared to the broader market:

  • Value: Weak (Score: 9.65) — Trading at a steep premium relative to peers.
  • Growth: Strong (Score: 80.06) — Indicates robust growth potential.
  • Quality: Neutral (Score: 65.57) — Balance sheet remains healthy.
  • Momentum: Weak (Score: 15.6) — Stock is underperforming the broader market.

Price Action: Shopify shares were up 3.43% at $122.46 during premarket trading on Tuesday, according to Benzinga Pro data.

Photo: El-editorial / Shutterstock