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Shopify Q2 2026 shows strong growth but high valuation keeps rating at 'Hold'

Company Fundamentals
19 Oct 2026
Seeking Alpha
View Source
Neutral
Shopify Q2 2026 shows strong growth but high valuation keeps rating at 'Hold'

Shopify reported strong Q2 2026 results with a 32% increase in GMV and 34% revenue growth, driven by international and B2B expansion. However, its gross margin declined to 47.7%. AI integration is boosting traffic and orders, especially for niche merchants, and partnerships like Meta Muse are enhancing commerce capabilities. Despite positive momentum, Shopify's forward P/E ratio remains high at 89x, suggesting investors might wait for a better entry point.

Shopify shares trade at USD 170.80 on Pluang as of Oct 19, 2026 17:22 WIB, close to its 52-week high of USD 179.22, showing resilience despite a modest 1-day gain of 0.76%. This price level contrasts sharply with the 52-week low of USD 95.40, highlighting the stock's strong recovery and investor confidence in its growth story. The typical hold time of 78 days on Pluang suggests moderate-term interest among retail investors in this high-valuation technology stock.

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