Shopify Inc. [SHOP] Stock trading around $50.08 per share: What’s Next?

Shopify Inc. [NYSE: SHOP] price surged by 3.62 percent to reach at $1.75. The company report on January 25, 2023 that Shopify to Announce Fourth-Quarter 2022 Financial Results February 15, 2023.

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Internet, Everywhere–(Newsfile Corp. – January 25, 2023) – Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, plans to announce financial results for its fourth quarter, which ended December 31, 2022, after markets close on Wednesday, February 15, 2023.

Shopify’s management team will host a conference call to discuss fourth-quarter results at 5:00 p.m. ET on Wednesday, February 15, 2023. The conference call will be available via webcast on the investor relations section of Shopify’s website at

A sum of 24438018 shares traded at recent session while its average daily volume was at 23.41M shares. Shopify Inc. shares reached a high of $50.17 and dropped to a low of $47.62 until finishing in the latest session at $50.08.

The one-year SHOP stock forecast points to a potential downside of -18.9. The average equity rating for SHOP stock is currently 2.60, 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 $42.12 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 2.60. 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.

Deutsche Bank have made an estimate for Shopify Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 23, 2023. While these analysts kept the previous recommendation, DA Davidson raised their target price to Neutral. The new note on the price target was released on January 18, 2023, representing the official price target for Shopify Inc. stock.

The Average True Range (ATR) for Shopify Inc. is set at 2.76, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 11.60. The Price to Book ratio for the last quarter was 7.31, with the Price to Cash per share for the same quarter was set at 4.07.

SHOP Stock Performance Analysis:

Shopify Inc. [SHOP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.72. With this latest performance, SHOP shares gained by 49.99% in over the last four-week period, additionally plugging by 39.46% over the last 6 months – not to mention a drop of -42.37% 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 75.61, with the RSI for the last a single of trading hit 80.97, and the three-weeks RSI is set at 71.06 for Shopify Inc. [SHOP]. The present Moving Average for the last 50 days of trading for this stock 38.33, while it was recorded at 46.49 for the last single week of trading, and 36.17 for the last 200 days.

Insight into Shopify Inc. 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 6.60 and a Current Ratio set at 6.60.

Shopify Inc. [SHOP] Insider Position Details

There are presently around $36,599 million, or 65.80% of SHOP stock, in the hands of institutional investors. The top three institutional holders of SHOP stocks are: MORGAN STANLEY with ownership of 74,826,518, which is approximately 2.511% of the company’s market cap and around 0.18% of the total institutional ownership; BAILLIE GIFFORD & CO, holding 72,447,961 shares of the stock with an approximate value of $3.63 billion in SHOP stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.64 billion in SHOP stock with ownership of nearly 39.195% of the company’s market capitalization.

Positions in Shopify Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 458 institutional holders increased their position in Shopify Inc. [NYSE:SHOP] by around 102,936,756 shares. Additionally, 461 investors decreased positions by around 85,112,400 shares, while 143 investors held positions by with 542,758,833 shares. The mentioned changes placed institutional holdings at 730,807,989 shares, according to the latest SEC report filing. SHOP stock had 122 new institutional investments in for a total of 8,127,012 shares, while 157 institutional investors sold positions of 27,408,659 shares during the same period.


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