The second-round pick in the 2016 NFL Draft went off for 1,028 yards and seven scores on 76 receptions in his third season. Boyd, 24, is set to make $1.3 million in 2019, including a $980,769 base salary.
"I feel like our game is kind of similar, kind of close," Boyd told The Athletic. "He got four for $40 million. I kind of feel like I'm in that area. Hopefully, they come like that or a little bit more or around that way. I feel like my ability is worth that much. I feel like my value is that much."
Boyd also said he's not going to ask "something crazy" after he "had one great year." He said he wants to continue to show the Bengals that he can do that every season, producing 1,000 yards annually.
Shepard ranked as the No. 62 wide receiver in the NFL last season, according to Pro Football Focus. Boyd rated as the No. 12 wide receiver in the game. Shepard hauled in 65 catches for 683 yards and eight scores in 16 starts during his rookie campaign, after being selected 15 spots ahead of Boyd in the 2016 NFL Draft.
While Boyd said he does watch the market when it comes to wide receivers, he also said he is going to be a "team player" in 2019.