Shopify Inc. [NYSE: SHOP] price plunged by -13.63 percent to reach at -$142.4. The company report on October 29, 2020 that Shopify Announces Third-Quarter 2020 Financial Results.
Third-Quarter Revenue Grows 96% on GMV Growth of 109% Year on Year.
Shopify reports in U.S. dollars and in accordance with U.S. GAAP.
A sum of 3891351 shares traded at recent session while its average daily volume was at 1.76M shares. Shopify Inc. shares reached a high of $991.7188 and dropped to a low of $900.00 until finishing in the latest session at $902.60.
The one-year SHOP stock forecast points to a potential upside of 19.41. The average equity rating for SHOP stock is currently 2.50, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Shopify Inc. [SHOP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SHOP shares is $1119.98 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SHOP stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
KeyBanc Capital Markets have made an estimate for Shopify Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 06, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on October 05, 2020, representing the official price target for Shopify Inc. stock. Previously, the target price had yet another raise from $998 to $1300, while Wedbush kept a Outperform rating on SHOP stock.
The Average True Range (ATR) for Shopify Inc. is set at 54.25, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 44.42. The Price to Book ratio for the last quarter was 17.61, with the Price to Cash per share for the same quarter was set at 50.62. Price to Free Cash Flow for SHOP in the course of the last twelve months was 594.13 with Quick ratio for the last quarter at 17.90.
SHOP Stock Performance Analysis:
Shopify Inc. [SHOP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.35. With this latest performance, SHOP shares dropped by -17.65% in over the last four-week period, additionally plugging by 21.60% over the last 6 months – not to mention a rise of 203.25% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SHOP stock in for the last two-week period is set at 39.65, with the RSI for the last a single of trading hit 35.61, and the three-weeks RSI is set at 41.79 for Shopify Inc. [SHOP]. The present Moving Average for the last 50 days of trading for this stock 1,002.09, while it was recorded at 984.36 for the last single week of trading, and 783.77 for the last 200 days.
Insight into Shopify Inc. Fundamentals:
Shopify Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 17.90 and a Current Ratio set at 17.90.
SHOP Stock EPS
With the latest financial reports released by the company, Shopify Inc. posted 0.43/share EPS, while the average EPS was predicted by analysts to be reported at 0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 79.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SHOP.
Shopify Inc. [SHOP] Insider Position Details
There are presently around $62,756 million, or 71.80% of SHOP stock, in the hands of institutional investors. The top three institutional holders of SHOP stocks are: FMR LLC with ownership of 8,168,358, which is approximately -6.945% of the company’s market cap and around 0.51% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 5,929,452 shares of the stock with an approximate value of $5.35 billion in SHOP stocks shares; and BAILLIE GIFFORD & CO, currently with $5.24 billion in SHOP stock with ownership of nearly -3.542% of the company’s market capitalization.
476 institutional holders increased their position in Shopify Inc. [NYSE:SHOP] by around 5,311,036 shares. Additionally, 383 investors decreased positions by around 7,775,789 shares, while 103 investors held positions by with 56,441,072 shares. The mentioned changes placed institutional holdings at 69,527,897 shares, according to the latest SEC report filing. SHOP stock had 181 new institutional investments in for a total of 981,624 shares, while 68 institutional investors sold positions of 512,424 shares during the same period.