<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/08/image59.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1152" height="720" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/08/image59.png"/></p>
<p>Shopify 的股價在今年表現強勁，從四月的低點 70 美元躍升至當前的 166 美元。這一增長髮生在公司增長軌跡加速的背景下。那麼，這家被高度高估的公司今天是否值得投資呢？</p>
<h2>Shopify 的收入和盈利能力增長持續</h2>
<p>Shopify 是一家全球領先的電子商務公司。其平台使人們更容易建立和管理自己的電子商務商店。</p>
<p>它在該行業佔有相當大的市場份額，使其成為構建這些網站的默認平台。其其他競爭對手，如 Wix 和 BigCommerce，隨着時間的推移一直難以獲得市場份額。</p>
<p><strong>閲讀更多：</strong> BigCommerce 與 Shopify 股票：為什麼 SHOP 超過 BIGC</p>
<p>公司的增長勢頭強勁，年收入從 2015 年的 2.05 億美元增長到過去十二個月（TTM）超過 106 億美元。</p>
<p>同樣，其盈利能力指標表現良好，從 1800 萬美元的淨虧損轉變為去年的 20 億美元利潤。隨着更多客户的加入以及盈利能力的持續增長，這一增長將加速。</p>
<p>華爾街分析師預計，公司今年的收入將達到 2114.6 億美元，明年將達到 141 億美元。每股收益方面，預計今年將從 1.45 美元增長到明年的 1.85 美元。Shopify 一直以來都有超越分析師預期的良好記錄。</p>
<h2>SHOP 的估值問題持續存在</h2>
<p>關於 Shopify 的最大擔憂是，由於其市場份額的增長，該公司一直被高度高估。根據 Seeking Alpha 彙編的數據，其估值等級為 D。</p>
<p>這是基於其非 GAAP 指標的前瞻市盈率為 111.27。這個指標遠高於行業中位數 24。它也高於其他成長型公司，如 Nvidia 和 AMD。</p>
<p>該公司的前瞻市盈率為 202.65，遠高於行業中位數 30.8。這使其成為美國最被高估的公司之一。</p>
<p>市盈率倍數比較了公司的股價和每股收益（EPS）。其主要挑戰在於未考慮公司增長的速度。因此，PEG 比率通常被視為更好的評估公司方式。在這種情況下，該公司的前瞻 PEG 比率為 2.7，也高於其他公司。</p>
<p>評估 Shopify 的另一種方法是所謂的 40 法則，它關注公司的收入增長和盈利能力指標。在這種情況下，該公司的前瞻收入增長為 26%，淨利潤率為 16%，使其 40 法則指標為 42%。</p>
<p>這個 40 法則數字意味着公司並沒有那麼高估，因為它在平衡收入增長和盈利目標。</p>
<p>華爾街分析師普遍看好該公司，目標股價為 177 美元，高於當前的 166 美元，建議持有。</p>
<h2>Shopify 股價技術分析</h2>
<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Shopify-stock-1024x579.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1024" height="579" original-src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Shopify-stock-1024x579.png"/></p>
<p>SHOP 股價圖表 | 來源：TradingView</p>
<p>日線圖顯示，SHOP 股價在過去幾個月中橫盤整理。仔細觀察發現，它形成了一個菱形形態，這是一個常見的看跌反轉信號。</p>
<p>它還形成了頭肩形態，而 MACD 和相對強弱指數（RSI）指向看跌反轉信號。</p>
<p>因此，股價可能在接下來的幾周內回落，可能會跌至 150 美元的心理關口。若突破 181 美元的關鍵阻力位，將會使看跌前景失效，可能會達到 200 美元的關鍵點。</p>
<p>這篇文章《Shopify 股價關注反轉，菱形形態形成，估值風險依然存在》最早出現在 Invezz 上。</p>

SHOP

<p>Shopify 的股票今年從 70 美元飆升至 166 美元，得益於強勁的收入和盈利增長。儘管存在高估值的擔憂，分析師們仍然持樂觀態度，目標價為 177 美元。技術分析顯示出一個菱形形態，暗示可能出現看跌反轉，可能會跌至 150 美元，除非突破 181 美元的阻力位</p>

<p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/08/image59.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/08/image59.png"/></p>
<p>Shopify stock price has had a strong performance this year as it jumped from the April low of $70 to the current $166. This growth happened as the company’s growth trajectory accelerated. So, is the highly overvalued company a good investment today?</p>
<div class="lb-trans"><p>Shopify 的股價在今年表現強勁，從四月的低點 70 美元躍升至當前的 166 美元。這一增長髮生在公司增長軌跡加速的背景下。那麼，這家被高度高估的公司今天是否值得投資呢？</p>
</div><h2>Shopify revenue and profitability growth have continued</h2>
<div class="lb-trans"><h2>Shopify 的收入和盈利能力增長持續</h2>
</div><p>Shopify is a top company that powers the e-commerce business globally. Its platform makes it easier for people to build and manage their e-commerce stores.</p>
<div class="lb-trans"><p>Shopify 是一家全球領先的電子商務公司。其平台使人們更容易建立和管理自己的電子商務商店。</p>
</div><p>It has a substantial market share in the sector, making it the default platform for building these sites. Its other competitors, like Wix and BigCommerce, have struggled to gain share over time.</p>
<div class="lb-trans"><p>它在該行業佔有相當大的市場份額，使其成為構建這些網站的默認平台。其其他競爭對手，如 Wix 和 BigCommerce，隨着時間的推移一直難以獲得市場份額。</p>
</div><p><strong>READ MORE:</strong> BigCommerce vs Shopify stocks: Here’s why SHOP beats BIGC</p>
<div class="lb-trans"><p><strong>閲讀更多：</strong> BigCommerce 與 Shopify 股票：為什麼 SHOP 超過 BIGC</p>
</div><p>The company’s growth has been strong, with its annual revenue moving from $205 milion in 2015 to over $10.6 billion in the trailing twelve months (TTM).</p>
<div class="lb-trans"><p>公司的增長勢頭強勁，年收入從 2015 年的 2.05 億美元增長到過去十二個月（TTM）超過 106 億美元。</p>
</div><p>Similarly, its profitability metrics have done well, moving from a net loss of $18 million to a profit of $2 billion last year. This growth will accelerate as more customers join and as its profitability continue.</p>
<div class="lb-trans"><p>同樣，其盈利能力指標表現良好，從 1800 萬美元的淨虧損轉變為去年的 20 億美元利潤。隨着更多客户的加入以及盈利能力的持續增長，這一增長將加速。</p>
</div><p>Wall Street analysts expect that the company’s revenue will move to $211.46 billion this year followed by $14.1 bilion next year. The earnings per share, on the other hand, is expected to move from $1.45 this year to $1.85 next year. Shopify has a long history of beating analysts’ estimates.</p>
<div class="lb-trans"><p>華爾街分析師預計，公司今年的收入將達到 2114.6 億美元，明年將達到 141 億美元。每股收益方面，預計今年將從 1.45 美元增長到明年的 1.85 美元。Shopify 一直以來都有超越分析師預期的良好記錄。</p>
</div><h2>SHOP valuation concerns have continued</h2>
<div class="lb-trans"><h2>SHOP 的估值問題持續存在</h2>
</div><p>The biggest concern about Shopify is that the company has always been highly overvalued because of its growing market share. Data compiled by Seeking Alpha shows that it has a valuation grade of D.</p>
<div class="lb-trans"><p>關於 Shopify 的最大擔憂是，由於其市場份額的增長，該公司一直被高度高估。根據 Seeking Alpha 彙編的數據，其估值等級為 D。</p>
</div><p>This is based on the fact that its forward price-to-earnings ratio of 111.27 based on non-GAAP measures. This metric is much higher than the sector median of 24. It is also higher than other growth companies like Nvidia and AMD.</p>
<div class="lb-trans"><p>這是基於其非 GAAP 指標的前瞻市盈率為 111.27。這個指標遠高於行業中位數 24。它也高於其他成長型公司，如 Nvidia 和 AMD。</p>
</div><p>The company has a forward PE ratio of 202.65, much higher than the sector median of 30.8. This makes it one of the most overvalued companies in the United States.</p>
<div class="lb-trans"><p>該公司的前瞻市盈率為 202.65，遠高於行業中位數 30.8。這使其成為美國最被高估的公司之一。</p>
</div><p>The PE multiple compares a company’s stock price and its earnings per share (EPS). Its main challenge is that it does not factor in how fast the company is growing. As such, the PEG ratio is usually seen as a better way to look at a company. In this case, the company has a forward PEG ratio of 2.7, which is also higher than other companies</p>
<div class="lb-trans"><p>市盈率倍數比較了公司的股價和每股收益（EPS）。其主要挑戰在於未考慮公司增長的速度。因此，PEG 比率通常被視為更好的評估公司方式。在這種情況下，該公司的前瞻 PEG 比率為 2.7，也高於其他公司。</p>
</div><p>Another way to value Shopify is known as the rule-of-40, which looks at a company’s revenue growth and its profitability metrics. In this case, the company has a forward revenue growth of 26% and a net profit margin of 16%, giving it a rule-of-40 metric of 42%.</p>
<div class="lb-trans"><p>評估 Shopify 的另一種方法是所謂的 40 法則，它關注公司的收入增長和盈利能力指標。在這種情況下，該公司的前瞻收入增長為 26%，淨利潤率為 16%，使其 40 法則指標為 42%。</p>
</div><p>This rule-of-40 figure means that the company is not all that overvalued, as it is balancing its revenue growth and its profitability goals.</p>
<div class="lb-trans"><p>這個 40 法則數字意味着公司並沒有那麼高估，因為它在平衡收入增長和盈利目標。</p>
</div><p>Wall Street analysts are generally bullish on the company, with a price target of $177, which is higher than the current $166, making it a hold.</p>
<div class="lb-trans"><p>華爾街分析師普遍看好該公司，目標股價為 177 美元，高於當前的 166 美元，建議持有。</p>
</div><h2>Shopify stock price technical analysis</h2>
<div class="lb-trans"><h2>Shopify 股價技術分析</h2>
</div><p><img src="https://imageproxy.pbkrs.com/https://invezz.com/wp-content/uploads/2025/12/Shopify-stock-1024x579.png" alt="" original-src="https://invezz.com/wp-content/uploads/2025/12/Shopify-stock-1024x579.png"/></p>
<p>SHOP stock price chart | Source: TradingView</p>
<div class="lb-trans"><p>SHOP 股價圖表 | 來源：TradingView</p>
</div><p>The daily timeframe chart shows that the SHOP stock price has moved sideways in the past few months. A closer look shows that it has formed a diamond pattern, a common bearish reversal sign.</p>
<div class="lb-trans"><p>日線圖顯示，SHOP 股價在過去幾個月中橫盤整理。仔細觀察發現，它形成了一個菱形形態，這是一個常見的看跌反轉信號。</p>
</div><p>It has also formed a head-and-shoulders pattern, while the MACD and the Relative Strength Index (RSI) point to a bearish reversal sign.</p>
<div class="lb-trans"><p>它還形成了頭肩形態，而 MACD 和相對強弱指數（RSI）指向看跌反轉信號。</p>
</div><p>Therefore, the stock will likely retreat in the coming weeks, potentially to the psychological level at $150. A move above the key resistance level at $181 will invalidate the bearish outlook, potentially to the key point at $200.</p>
<div class="lb-trans"><p>因此，股價可能在接下來的幾周內回落，可能會跌至 150 美元的心理關口。若突破 181 美元的關鍵阻力位，將會使看跌前景失效，可能會達到 200 美元的關鍵點。</p>
</div><p>The post Shopify stock eyes a reversal as diamond pattern forms, valuation risk remain appeared first on Invezz</p>
<div class="lb-trans"><p>這篇文章《Shopify 股價關注反轉，菱形形態形成，估值風險依然存在》最早出現在 Invezz 上。</p>
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隨着鑽石形態的形成，Shopify 股票可能出現反轉，但估值風險依然存在