Shopify Inc (NYSE:SHOP) price on Thursday, February 06, fall -2.59% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $118.58.
A look at the stock’s price movement, the close in the last trading session was $121.73, moving within a range at $116.87 and $122.8014. The beta value (5-Year monthly) was 2.365 while the PE ratio in trailing twelve months stood at 111.57. Turning to its 52-week performance, $122.00 and $48.56 were the 52-week high and 52-week low respectively. Overall, SHOP moved 3.80% over the past month.
Shopify Inc’s market cap currently stands at around $153.22 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 2.73B for the company’s revenue for the quarter, with a low and high estimate of 2.68B and 2.8B respectively. The average forecast suggests up to a 27.28% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 8.8B, representing a 24.63% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SHOP is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
34 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 13 analyst(s) rate the stock as a Hold, 21 recommend SHOP as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SHOP’s current price about 7.63% and 6.67% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.31, while 7-day volatility ratio is 4.22% and 3.81% in the 30-day chart. Further, Shopify Inc (SHOP) has a beta value of 2.60, and an average true range (ATR) of 4.57. Analysts have given the company’s stock an average 52-week price target of $105, forecast between a low of $80 and high of $130. Looking at the price targets, the low is 32.53% off current price level while to achieve the yearly target high, price needs to move -9.63%. Nonetheless, investors will most likely welcome a 11.45% jump to $105 which is the analysts’ median price.
If we refocus on Shopify Inc (NYSE:SHOP), historical trading data shows that trading volumes averaged 7.49 over the past 10 days and 8.10 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.21 billion shares.
The 6.43% of Shopify Inc’s shares are in the hands of company insiders while institutional holders own 65.27% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 16.89 million on 2025-01-15, giving us a short ratio of 2.98. The data shows that as of 2025-01-15 short interest in Shopify Inc (SHOP) stood at 233.0 of shares outstanding, with shares short rising to 16.62 million registered in 2024-12-13. Current price change has pushed the stock 11.52% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SHOP stock continues to rise going into the next quarter.
