SHOP

SHORT

SHOPIFY INC

Research: Finviz ↗·Perplexity ↗

🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.

Funds

Score

2.96

vs SPY

+10.4%

Stock return (since Q-end)

+30.1%

SPY return (since Q-end)

+19.7%

Current price

$154.32

Days to cover (short int.)

2.3d↓-24.2%

as of 2026-07-31

News Summary

Positive

Shopify delivered strong operational execution with Q1-Q2 2026 revenue growth of 34% and Q3 guidance materially exceeding analyst expectations (low-30s growth vs. 26.3% consensus), driven by AI-powered commerce, payments penetration gains (68% of GMV), and Shop Pay momentum ($400B+ lifetime GMV). However, Q1 results were dampened by a $1.08B equity investment loss (Affirm, Global-E, Klaviyo holdings), triggering a 13.5% post-earnings stock decline despite operational beat, and BMO cut price target to $160 in May.

Red flags

•Q1 2026 equity investment losses of $1.08 billion turned operating profit into GAAP net loss of $581 million despite strong revenue growth
•BMO Capital Markets cut price target to $160 on May 6, 2026
•Stock fell 13.5% after Q1 report despite operational beat, indicating market concern about valuation or investment mark-downs

Funds Reducing / Exiting (3)

Fund	Manager	Shares Held	∆ Shares	Position Value	% of Fund	QoQ	Status
Durable Capital Partners	Henry Ellenbogen	972K	-1,071,529	$115M	3.1%	-52%	Existing
Altimeter Capital	Brad Gerstner	0	−570K	—	1.4%	-100%	EXITED
Soros Fund Management	Soros Family Office	0	−5K	—	<0.1%	-100%	EXITED

Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.