[DAILY TRADING] Shopify Stock Price Today, 7 August 2026 – SHOP Extends Earnings-Day Rally

Shopify shares have extended their post-earnings rally following stronger-than-expected second-quarter results. The Shopify stock price sits at 206.79 as of 03:41 UTC (11:41 GMT+8) on 7 August 2026, on the TSX-listed chart used for this analysis.

A few days ago this Shopify stock quote was nursing a summer slide. The technical picture changed materially following the earnings release, and the Shopify stock chart reflects that shift clearly. Here is where the SHOP stock, the Q2 results, and the analyst reaction all stand right now. Nothing here is a trading recommendation.

Shopify Inc. (SHOP) also trades on the Nasdaq under the same ticker; the levels below are specific to this TSX-listed, CAD chart.

Key points

• The SHOP stock price sits at 206.79 on the TSX chart used for this analysis, as of 03:41 UTC (11:41 GMT+8) on 7 August 2026, against a 173.41 close before Wednesday’s results.^[7]
• Second-quarter revenue hit $3.58 billion, up 34% year on year, while gross merchandise volume climbed to $115.57 billion, above the average analyst estimate.^[1]
• Several major brokerages raised their price targets following the earnings release, with revisions from Citi, Goldman Sachs and RBC Capital landing near $200.^[4,5,6]

What the Shopify stock chart is showing

Late July wasn’t kind to this stock. SHOP drifted down to the 156.00 to 168.00 range, and the RSI setup dipped into oversold territory below 30. Then Wednesday happened.^[7]

The stock gapped from Tuesday’s close of 173.41 to an intraday high of 216.00, before settling into a 200.00 to 208.00 band, where it has traded since.^[7] The 50-period moving average sits at 183.20, some way below spot, while the 200-period moving average sits at 204.60, a level price is now trading just above.^[7] The RSI moving-average overlay reads 59.93 on the RSI line and 57.14 on its moving average, cooling off from an overbought spike above 90 on the earnings-day candle.

The earnings news behind the move

Here is the earnings news driving it. Shopify’s second-quarter revenue rose 34% year on year to $3.58 billion (33% in constant currency), beating the average estimate of $3.45 billion.^[1] Adjusted earnings landed at $0.42 a share versus a $0.40 consensus, and gross merchandise volume climbed 32% to $115.57 billion.^[1][8] Gross profit rose 31% to $1.71 billion, and free cash flow reached $654 million, an 18% margin.^[1]

Management guided for low-thirties percentage revenue growth into the current quarter. CFO Jeff Hoffmeister pointed to growth across merchant sizes, channels and geographies, while President Harley Finkelstein called AI-referred shopping traffic a “golden age of entrepreneurship” for merchants on the platform.^[2]

The stock market news cycle noticed fast. Citi raised its price target to $196 from $150, Goldman Sachs moved to $194 from $170, and RBC Capital raised its view to $180 from $170, all citing the scale of the beat.^[4][5][6] Not everyone turned positive: Rothschild & Co Redburn had downgraded the stock to neutral in July over Meta’s AI shopping tools, a tension this week’s numbers haven’t fully settled.^[1]

Levels traders are watching

Table 1: Key levels on the SHOP CFD chart used for this analysis, as of 03:41 UTC (11:41 GMT+8) on 7 August 2026. Source: TradingView. Indicative only.

The 200.00 handle and the 200-period moving average at 204.60 have basically fused into one pivot zone over the past two sessions, with price bouncing either side of it.[7] This is the technical picture worth watching: slip back below 199.99 and the post-earnings low comes into play; clear 216.00 and Wednesday’s high is back on the table.

What to watch next

• Analyst revisions: More price-view changes are likely in the days after the print and could add short-term volatility.^[4][5][6]
• AI competition: The debate over Meta’s AI shopping tools and their pull on merchant acquisition isn’t settled.^[1]
• Market tone: SHOP’s rally landed on a broadly positive session for US equities, a backdrop that has kept risk appetite for growth names intact.^[3]

On risk management: the recent earnings gap highlights the potential for wider price swings than usual, making Stop Loss discipline and exposure awareness particularly relevant during periods of elevated volatility like this one.

Leverage on the Vantage SHOP CFD runs up to 1:33.3, and it cuts both ways in a market moving this fast. Position sizing relative to account equity is worth a second look before adding exposure to a stock that has moved more than 20 points in two sessions.

RISK WARNING: CFDs are complex financial instruments and carry a high risk of losing money rapidly due to leverage. You should ensure you fully understand the risks involved and carefully consider whether you can afford to take the high risk of losing your money before trading.

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References

[1] “Shopify Q2 2026 earnings beat revenue estimates, stock surges – Yahoo Finance” https://finance.yahoo.com/markets/stocks/articles/shopify-q2-2026-earnings-beat-121421648.html Accessed on 07 August 2026.

[2] “Shopify exec says AI is ushering in a ‘golden age of entrepreneurship’ – CNBC” https://www.cnbc.com/2026/08/05/shopify-exec-ai-ushering-in-golden-age-entrepreneurship.html Accessed on 07 August 2026.

[3] “Shopify’s stock heads for best day in a year after the company ‘left no doubt’ about its growth trajectory – MarketWatch” https://www.marketwatch.com/story/shopifys-stock-heads-for-best-day-in-a-year-after-the-company-left-no-doubt-about-its-growth-trajectory-79551270 Accessed on 07 August 2026.

[4] “Shopify price target raised to $196 from $150 at Citi – TipRanks” https://www.tipranks.com/news/the-fly/shopify-price-target-raised-to-196-from-150-at-citi-thefly-news Accessed on 07 August 2026.

[5] “Shopify price target raised to $194 from $170 at Goldman Sachs – TipRanks” https://www.tipranks.com/news/the-fly/shopify-price-target-raised-to-194-from-170-at-goldman-sachs-thefly-news Accessed on 07 August 2026.

[6] “Shopify price target raised to $180 from $170 at RBC Capital – TipRanks” https://www.tipranks.com/news/the-fly/shopify-price-target-raised-to-180-from-170-at-rbc-capital-thefly-news Accessed on 07 August 2026.

[7] “Shopify (TSX:SHOP) Stock Price & Overview – StockAnalysis” https://stockanalysis.com/quote/tsx/SHOP/ Accessed on 07 August 2026.

[8] “Shopify Shares Jump After Strong Q2 Earnings Beat and Higher Revenue Outlook – Alpha Spread” https://www.alphaspread.com/market-news/earnings/shopify-shares-jump-after-strong-q2-earnings-beat-and-higher-revenue-outlook Accessed on 07 August 2026.