The Benchmark Company lifts Shopify Inc. [SHOP] price estimate. Who else is bullish?

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Shopify Inc. [NYSE: SHOP] traded at a high on 06/07/22, posting a 5.58 gain after which it closed the day’ session at $380.74. The company report on May 5, 2022 that Shopify Reports First-Quarter 2022 Financial Results, Plans to Acquire Ecommerce Fulfillment Technology Provider Deliverr.


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Addition of Deliverr seeks to expand fast and easy fulfillment for independent brands across channels.

Shopify reports in U.S. dollars and in accordance with U.S. GAAP.

The results of the trading session contributed to over 4743191 shares changing hands. Over the past one week, the price volatility of Shopify Inc. stands at 9.55% while the volatility over the past one month is 10.84%.

The market cap for SHOP stock reached $54.16 billion, with 126.01 million shares outstanding and 113.82 million shares in the current float. Compared to the average trading volume of 4.18M shares, SHOP reached a trading volume of 4743191 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $598.02 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 2.70. 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.

The Benchmark Company have made an estimate for Shopify Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on April 14, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Overweight. The new note on the price target was released on April 05, 2022, representing the official price target for Shopify Inc. stock. Previously, the target price had yet another drop from $1500 to $1100, while Wolfe Research kept a Outperform rating on SHOP stock. On February 17, 2022, analysts decreased their price target for SHOP shares from 1270 to 937.

The Average True Range (ATR) for Shopify Inc. is set at 39.48, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 11.22. The Price to Book ratio for the last quarter was 4.90, with the Price to Cash per share for the same quarter was set at 50.94. Price to Free Cash Flow for SHOP in the course of the last twelve months was 213.50 with Quick ratio for the last quarter at 11.80.

How has SHOP stock performed recently?

Shopify Inc. [SHOP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.50. With this latest performance, SHOP shares gained by 0.86% in over the last four-week period, additionally sinking by -73.34% over the last 6 months – not to mention a drop of -69.06% 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 47.36, with the RSI for the last a single of trading hit 51.63, and the three-weeks RSI is set at 44.64 for Shopify Inc. [SHOP]. The present Moving Average for the last 50 days of trading for this stock 476.86, while it was recorded at 371.08 for the last single week of trading, and 1,034.54 for the last 200 days.

Shopify Inc. [SHOP]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Shopify Inc. [SHOP] shares currently have an operating margin of +7.10 and a Gross Margin at +52.86. Shopify Inc.’s Net Margin is presently recorded at +63.20.

Return on Equity for this stock inclined to 33.25, with Return on Assets sitting at 27.62.

Shopify Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.80 and a Current Ratio set at 11.80.

Insider trade positions for Shopify Inc. [SHOP]

There are presently around $27,816 million, or 69.90% of SHOP stock, in the hands of institutional investors. The top three institutional holders of SHOP stocks are: MORGAN STANLEY with ownership of 6,442,015, which is approximately 9.476% of the company’s market cap and around 0.15% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 5,372,962 shares of the stock with an approximate value of $1.94 billion in SHOP stocks shares; and VANGUARD GROUP INC, currently with $1.32 billion in SHOP stock with ownership of nearly 3.28% of the company’s market capitalization.

Positions in Shopify Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 648 institutional holders increased their position in Shopify Inc. [NYSE:SHOP] by around 12,500,313 shares. Additionally, 690 investors decreased positions by around 13,983,868 shares, while 138 investors held positions by with 50,650,747 shares. The mentioned changes placed institutional holdings at 77,134,928 shares, according to the latest SEC report filing. SHOP stock had 142 new institutional investments in for a total of 1,832,335 shares, while 334 institutional investors sold positions of 2,643,555 shares during the same period.

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