Shopify Inc. [NYSE: SHOP] gained 0.84% or 0.34 points to close at $40.76 with a heavy trading volume of 29767152 shares. The company report on July 27, 2022 that Shopify Reports Second-Quarter 2022 Financial Results.
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Merchants trust Shopify with more parts of their business in Q2 as GMV growth outpaces market.
Shopify reports in U.S. dollars and in accordance with U.S. GAAP.
It opened the trading session at $41.30, the shares rose to $41.53 and dropped to $39.61, the range by which the price of stock traded the whole day. The daily chart for SHOP points out that the company has recorded -54.37% loss over the past six months. However, it is still -37.15% lower than its most recent low trading price.
If we look at the average trading volume of 38.82M shares, SHOP reached to a volume of 29767152 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $50.08 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.
Atlantic Equities have made an estimate for Shopify Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on August 11, 2022. While these analysts kept the previous recommendation, Piper Sandler dropped their target price from $38 to $32. The new note on the price target was released on July 28, 2022, representing the official price target for Shopify Inc. stock. Previously, the target price had yet another drop from $50 to $45, while Oppenheimer kept a Outperform rating on SHOP stock.
The Average True Range (ATR) for Shopify Inc. is set at 3.32, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 10.20. The Price to Book ratio for the last quarter was 5.90, with the Price to Cash per share for the same quarter was set at 5.55. Price to Free Cash Flow for SHOP in the course of the last twelve months was 868.11 with Quick ratio for the last quarter at 11.20.
Trading performance analysis for SHOP stock
Shopify Inc. [SHOP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.12. With this latest performance, SHOP shares gained by 32.90% in over the last four-week period, additionally sinking by -54.37% over the last 6 months – not to mention a drop of -72.88% 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 57.15, with the RSI for the last a single of trading hit 59.05, and the three-weeks RSI is set at 54.80 for Shopify Inc. [SHOP]. The present Moving Average for the last 50 days of trading for this stock 35.54, while it was recorded at 39.66 for the last single week of trading, and 78.25 for the last 200 days.
Shopify Inc. [SHOP]: A deeper dive into fundamental analysis
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 11.20 and a Current Ratio set at 11.20.
An analysis of insider ownership at Shopify Inc. [SHOP]
There are presently around $29,310 million, or 66.20% of SHOP stock, in the hands of institutional investors. The top three institutional holders of SHOP stocks are: MORGAN STANLEY with ownership of 64,420,150, which is approximately 9.476% of the company’s market cap and around 0.17% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 57,045,303 shares of the stock with an approximate value of $2.33 billion in SHOP stocks shares; and VANGUARD GROUP INC, currently with $1.52 billion in SHOP stock with ownership of nearly 2.225% of the company’s market capitalization.
Positions in Shopify Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 553 institutional holders increased their position in Shopify Inc. [NYSE:SHOP] by around 112,574,615 shares. Additionally, 628 investors decreased positions by around 160,300,585 shares, while 121 investors held positions by with 446,206,140 shares. The mentioned changes placed institutional holdings at 719,081,340 shares, according to the latest SEC report filing. SHOP stock had 123 new institutional investments in for a total of 31,185,233 shares, while 298 institutional investors sold positions of 26,180,340 shares during the same period.