Shopify (HAM:307) Moat Score: 7/10 (As of Jul. 02, 2026)


HAM:307 Shopify Inc HAM:307
85 GF Score
Price €108.06
GF Value €127.11
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Shopify Moat Score?

Shopify HAM:307 +8.48% 85 Moat Score is 7 as of Jul. 02, 2026. GuruFocus rates HAM:307 with a GF Score™ of 85/100 and a GF Value™ of €127.11 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,844 Software companies, Shopify ranks better than 99.26% on this metric.

Shopify has the Moat Score of 7, which implies that the company might have Wide Moat - Entry-level wide moat, clearly possessing durable advantages.

Shopify has Wide Moat: Shopify Inc possesses a wide moat with strong network effects and significant customer switching costs. Its platform is deeply integrated into e-commerce operations, providing durable cost advantages and consistent innovation. The company's pricing power and brand strength further solidify its competitive position.

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Shopify might have Wide Moat - Entry-level wide moat, clearly possessing durable advantages.

Shopify  (HAM:307) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Shopify Moat Score Related Terms

HAM:307 vs UBER, CRM, CDNS: Moat Score Comparison

For the Software - Application subindustry, Shopify's Moat Score, along with its competitors' market caps and Moat Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Shopify Moat Score vs Software Industry

For the Software industry and Technology sector, Shopify's Moat Score distribution charts can be found below:

* The bar in red indicates where Shopify's Moat Score falls into.


HAM:307
85GF Score
Shopify Inc HAM:307
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Frequently Asked Questions Learn more about Moat Score →
What does a Moat Score of 7 mean?
Shopify (HAM:307) has a Moat Score of 7 as of Jul. 02, 2026. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. According to the industry distribution chart, Shopify ranks #21 out of 2844 companies in the Software industry, placing it in the top 0.7%.
Is Shopify's Moat Score too high?
Shopify's current Moat Score is 7. Based on the distribution chart, Shopify ranks #21 out of 2844 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Shopify has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Shopify's Moat Score compare to UBER and CRM?
According to the Software industry distribution chart, Shopify ranks #21 out of 2844 companies for Moat Score. This places Shopify in the top 1% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Moat Score for a Software company?
A good Moat Score depends on the Software industry context. However, Moat Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Moat Score mean?
A high Moat Score can signal that a stock is expensive relative to its fundamentals. Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more. Shopify's current Moat Score is 7. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shopify stock overvalued right now?
Based on GuruFocus' analysis, Shopify (HAM:307) is currently considered Modestly Undervalued. The stock's GF Value™ is €127.11, compared to a current price of €108.06 — trading 15% below its estimated fair value. The current Moat Score is 7. Shopify's overall GF Score™ is 85/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Moat Score calculated?
Moat Score is calculated from a company's financial statements. For Shopify (HAM:307), the current Moat Score is 7 as of Jul. 02, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Shopify (HAM:307) Overvalued in 2026?

Based on GuruFocus' analysis, Shopify stock appears to be undervalued. The current stock price of €108.06 is trading 15% below its estimated GF Value™ of €127.11. GuruFocus considers Shopify to be Modestly Undervalued.

Key valuation signals for HAM:307:

  • Moat Score: 7
  • GF Value™: €127.11 vs. price of €108.06 (15% below fair value)
  • GF Score™: 85/100 with 2 warning signs

No single metric tells the full story. See the HAM:307 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Shopify Business Description

Address 151 O\'Connor Street, Ground Floor, Ottawa, ON, CAN, K2P 2L8
Shopify offers an e-commerce platform primarily to small and medium-size businesses. The firm has two segments. The subscription solutions segment allows Shopify merchants to conduct e-commerce on a variety of platforms, including the company's website, physical stores, pop-up stores, kiosks, social networks (Facebook), and Amazon. The merchant solutions segment offers add-on products for the platform that facilitate e-commerce and include Shopify Payments, Shopify Shipping, and Shopify Capital.
85GF Score

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Moat Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€108.06
Price
€127.11
GF Value