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    DoorDash Integration Deepens Shopify’s Omnichannel Reach and Might Change The Case For Investing In Shopify (SHOP)

    Simply Wall St·07/21/2026 23:24:10
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    • Earlier this month, DoorDash announced a native integration that lets US brick-and-mortar Shopify merchants sync catalogs and inventory to sell directly on the DoorDash marketplace from within Shopify’s App Store.
    • This deeper connection positions Shopify more firmly as core infrastructure for omnichannel, on-demand retail by linking local stores to new discovery and delivery channels while keeping operations centralized in Shopify.
    • Next, we’ll examine how this tighter DoorDash integration could influence Shopify’s investment narrative around AI-enabled, omnichannel commerce infrastructure.

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    Shopify Investment Narrative Recap

    To own Shopify, you need to believe it can remain a core commerce infrastructure provider as merchants sell across online, in-store, and third party channels, while justifying a rich valuation. The upcoming Q2 2026 earnings on August 5 look like the key near term catalyst, with the biggest risk being that growth or profitability trends do not support current multiples. The new DoorDash integration helps the omnichannel story but does not materially change that earnings test.

    The June launch of Sidekick App Extensions, which lets third party apps plug into Shopify’s AI assistant, is especially relevant here. Together with the DoorDash integration, it underscores Shopify’s push to tie AI insights and real world retail activity into one operating system for merchants, a theme many investors are watching closely around the coming earnings update.

    Yet, against this backdrop, investors should also be aware of the risk that rising regulatory and data privacy pressures could...

    Read the full narrative on Shopify (it's free!)

    Shopify's narrative projects $24.1 billion revenue and $3.7 billion earnings by 2029.

    Uncover how Shopify's forecasts yield a $148.22 fair value, a 20% upside to its current price.

    Exploring Other Perspectives

    SHOP 1-Year Stock Price Chart
    SHOP 1-Year Stock Price Chart

    Some of the lowest ranked analysts were already cautious, assuming revenue of about US$21.9 billion and earnings of US$2.9 billion by 2029, so if you are weighing today’s DoorDash news against those more pessimistic views, it is worth asking how much it might soften concerns about saturation and Shopify’s ability to keep true product differentiation alive.

    Explore 21 other fair value estimates on Shopify - why the stock might be worth over 2x more than the current price!

    Decide For Yourself

    Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so go with your instincts.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.