Shopify Stock Plunges. Slowing Merchandise Sales Flash a Warning Sign.

Dow Jones
昨天

Shopify stock took a hit after the e-commerce company reported weaker-than-expected merchandise sales in the third quarter, raising questions about the sustainability of its rapid growth even as earnings and profitability improved.

Shares of Shopify sank 19% to $127 in premarket trading Tuesday, putting the stock on pace for its largest daily percentagre decrease on record if the decline holds, according to Dow Jones Market Data. The stock was down 0.6% in 2026 through the market close on Monday.

The company reported third-quarter adjusted earnings of 49 cents a share, beating consensus analyst estimates of 47 cents, according to FactSet. It posted a 32% year-over-year increase in revenue to $3.74 billion, roughly matching estimates.

Gross merchandise volume, the total value of orders placed through Shopify's platform, rose 29% year over year to $119.1 billion, falling short of analysts' expectations for $120 billion. Growth also moderated from the second quarter, when merchandise volume increased 31%.

The metric is a key indicator of Shopify's growth prospects, as the company generates much of its revenue from payment processing and other services tied to merchant transactions. Slower growth in merchandise sales could eventually weigh on those businesses, even as Shopify benefits from merchants adopting more of its services.

Shopify expects to sustain its revenue growth through the upcoming holiday shopping season. The company forecast fourth-quarter revenue growth in the low-30% range from a year earlier, broadly in line with Wall Street's expectations for $4.76 billion.

The company's profitability also improved in the third quarter. Free cash flow surged 61% year over year to $816 million, while its free-cash-flow margin expanded to 22% from 18% a year earlier.

One potential source of future growth is artificial-intelligence-powered shopping, though it remains unclear how much of the emerging technology is contributing to Shopify's business.

Shopify has invested in technology that allows merchants to reach consumers through AI-powered shopping assistants, potentially opening a new sales channel as more shoppers turn to AI tools to discover and purchase products.

Wall Street has grown bullish on Shopify's AI opportunity in recent weeks.

Deutsche Bank analysts wrote that Shopify is in an "advantaged position" to benefit from Meta Platforms' Muse and other AI agents over the long run, while J.P. Morgan analysts have argued that Meta could be a "critical" advertising partner for Shopify merchants.

 

應版權方要求,你需要登入查看該內容

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10