Shopify Inc. [NYSE: SHOP] traded at a high on 03/03/23, posting a 5.39 gain after which it closed the day’ session at $43.40. The company report on February 23, 2023 that Shopify Announces Multi-Year Initiative to Transform Partner Program.
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First phase helps partners earn more and upskill, and introduces new partner events.
New incentives give partners the opportunity to earn up to 2x or more with multiple ways to generate revenue.
The results of the trading session contributed to over 16926229 shares changing hands. Over the past one week, the price volatility of Shopify Inc. stands at 4.18% while the volatility over the past one month is 4.49%.
The market cap for SHOP stock reached $51.84 billion, with 1.27 billion shares outstanding and 1.12 billion shares in the current float. Compared to the average trading volume of 20.81M shares, SHOP reached a trading volume of 16926229 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 $48.99 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.
DZ Bank have made an estimate for Shopify Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 24, 2023. The new note on the price target was released on February 22, 2023, representing the official price target for Shopify Inc. stock.
The Average True Range (ATR) for Shopify Inc. is set at 2.48, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 9.26. The Price to Book ratio for the last quarter was 6.71, with the Price to Cash per share for the same quarter was set at 4.23.
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 6.50. With this latest performance, SHOP shares dropped by -13.65% in over the last four-week period, additionally plugging by 37.12% over the last 6 months – not to mention a drop of -34.23% 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 48.72, with the RSI for the last a single of trading hit 49.02, and the three-weeks RSI is set at 49.96 for Shopify Inc. [SHOP]. The present Moving Average for the last 50 days of trading for this stock 42.32, while it was recorded at 41.26 for the last single week of trading, and 36.30 for the last 200 days.
Shopify Inc. [SHOP]: Deeper insight into the fundamentals
Shopify Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.10 and a Current Ratio set at 7.10.
Earnings analysis for Shopify Inc. [SHOP]
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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Shopify Inc. go to 11.84%.
Insider trade positions for Shopify Inc. [SHOP]
There are presently around $33,362 million, or 65.80% of SHOP stock, in the hands of institutional investors. The top three institutional holders of SHOP stocks are: BAILLIE GIFFORD & CO with ownership of 72,447,961, which is approximately 12.303% of the company’s market cap and around 0.20% of the total institutional ownership; MORGAN STANLEY, holding 69,473,815 shares of the stock with an approximate value of $3.02 billion in SHOP stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.72 billion in SHOP stock with ownership of nearly 18.975% of the company’s market capitalization.
481 institutional holders increased their position in Shopify Inc. [NYSE:SHOP] by around 122,164,497 shares. Additionally, 463 investors decreased positions by around 80,290,190 shares, while 133 investors held positions by with 566,251,784 shares. The mentioned changes placed institutional holdings at 768,706,471 shares, according to the latest SEC report filing. SHOP stock had 196 new institutional investments in for a total of 24,245,922 shares, while 105 institutional investors sold positions of 18,835,664 shares during the same period.