Shopping season is in full swing, and Black Friday sales proved that the drive to spend is high, despite the economic slump. Shopify reported $6.2 billion in Black Friday gross merchandise volume, up 25% year over year.
A partial outage hit the company’s e-commerce network on Monday, causing Shopify stock to fall.
The Cyber Monday outage prevented some merchants from processing transactions, logging in to their accounts or utilizing their point-of-sale systems.
“We expect a slight negative reaction with the reported pace of sales tracking below consensus Q4 GMV growth expectations (28% year-over-year),” said Oppenheimer analyst Ken Wong in a report.
In contrast, Truist analyst Terry Tillman stated:
“With the strong results on Friday alone and considering Cyber Monday is typically a bigger selling day online, we suspect Shopify will blow through last year’s Cyber Week results.”
“Also, this type of well above 20% sales growth reported by Shopify will likely continue a multiyear trend of the Shopify merchant community growing easily over two times the overall e-commerce market during Cyber Week.”
Shopify stock dropped 4% to 152.28 in midday trading on the stock market today.
Deutsche Bank analyst Bhavin Shah said the Black Friday results “put the company on track to achieve Q4 GMV expectations.”
“Based on current consensus estimates, Black Friday would comprise 5.2% of the quarter’s GMV, compared to the prior two years of 5.3% and 5.5%, which we see as reasonable,” he added.
As of Friday’s market close, Shopify stock advanced 47% in 2025.
According to IBD Stock Checkup, Shopify stock has a Composite Rating of 90 out of a best-possible 99.
Did you know Shopify was created in Canada? Click here for the story of Tobias Lütke, the German-Canadian creator of the app that changed e-commerce forever.
