Why did Shopify stock fall today?

Shares slid as investors focused on lower near‑term free‑cash‑flow margins tied to AI and infrastructure spending, despite a Q4 revenue beat and solid Q1 growth outlook. Concerns about potential pressure on merchant solutions take rate from agentic AI also weighed on sentiment, prompting a re‑rating while the market waits for clearer AI monetization.

What does Shopify’s US$2B buyback mean for investors?

The authorization signals confidence in long‑term cash generation and can offset dilution. If executed at current prices, it supports per‑share metrics. The impact depends on pace and timing, available free cash flow, and competing investment needs like AI. Investors should track quarterly repurchase activity and share count changes.

How do AI shopping tools affect margins and take rate?

AI tools can improve conversion and support merchants, but higher AI spend can compress margins before benefits show. If agentic AI influences order routing, merchant solutions take rate could face pressure. Monetization via subscriptions or usage fees may offset this. Clear KPIs on adoption and pricing will guide expectations.

Is Shopify stock expensive right now?

On TTM numbers, it trades near 86.7x earnings and about 14x sales, which is rich versus many tech peers. These multiples assume sustained high growth and better margins ahead. If AI spending converts to higher profitability, the valuation can be supported. Delays or weaker take rates would challenge that case.

Global Market Insights

SHOP.TO Stock Today, February 12: Beat, $2B Buyback; AI Spend Weighs

ByDanny Kontos February 13, 2026

Shopify stock fell in Toronto today after a solid Q4 beat and a low‑30s Q1 growth outlook. Shares of SHOP.TO closed at C$160.64, down 6.9% or C$11.90, on heavier volume than average. A new US$2 billion buyback signalled confidence, yet investors focused on lower near‑term free‑cash‑flow margins tied to AI shopping tools and possible take‑rate pressure from agentic AI. We break down Shopify earnings, the buyback, valuation, and the key catalysts Canadian investors should watch next.