Seeking Alpha(@SeekingAlpha):$SHOP reported Q3 non-GAAP earnings of $0.49 per share, beating estimates by $0.03, on revenue of $3.74B. $IGV For Q4, Shopify expects revenue to grow at a low-thirties percentage rate, with stock-based compensation projected at $155M. Shopify: Revenue growth = 32.5% Gross margin = near 48% Net margin = 14.5% Forward non-GAAP PEG ratio = 2.68 P/E = 105x Seeking Alpha Quant Rating for Shopify: Hold. Can strong top-line growth turn into sustainable margin expansion at 105x earnings?

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2026.11.04 13:46

$SHOP reported Q3 non-GAAP earnings of $0.49 per share, beating estimates by $0.03, on revenue of $3.74B. $IGV For Q4, Shopify expects revenue to grow at a low-thirties percentage rate, with stock-based compensation projected at $155M. Shopify: Revenue growth = 32.5% Gross margin = near 48% Net margin = 14.5% Forward non-GAAP PEG ratio = 2.68 P/E = 105x Seeking Alpha Quant Rating for Shopify: Hold. Can strong top-line growth turn into sustainable margin expansion at 105x earnings?