Shopify Inc. [SHOP] is 26.42% higher this YTD. Is it still time to buy?

Shopify Inc. [NYSE: SHOP] closed the trading session at $43.88 on 03/20/23. The day’s price range saw the stock hit a low of $42.78, while the highest price level was $44.24. The company report on March 20, 2023 that FINANCIAL TECHNOLOGY PARTNERS FORMALLY LAUNCHES THE ONLY PURE FINTECH EQUITY RESEARCH PLATFORM – WITH INITIAL COVERAGE OF 25 PUBLIC FINTECH COMPANIES.


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The stocks have a year to date performance of 26.42 percent and weekly performance of 5.03 percent. The stock has been moved at 38.29 percent over the last six months. The stock has performed -2.29 percent around the most recent 30 days and changed 20.58 percent over the most recent 3-months.

If compared to the average trading volume of 20.10M shares, SHOP reached to a volume of 15325362 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $48.89 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.

Stifel have made an estimate for Shopify Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 17, 2023. The new note on the price target was released on February 24, 2023, representing the official price target for Shopify Inc. stock. Previously, the target price had yet another raise to $50, while DA Davidson analysts kept a Buy rating on SHOP stock.

The Average True Range (ATR) for Shopify Inc. is set at 2.29, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 9.86. The Price to Book ratio for the last quarter was 6.78, with the Price to Cash per share for the same quarter was set at 4.01.

SHOP stock trade performance evaluation

Shopify Inc. [SHOP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.03. With this latest performance, SHOP shares dropped by -2.29% in over the last four-week period, additionally plugging by 38.29% over the last 6 months – not to mention a drop of -33.25% 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 50.78, with the RSI for the last a single of trading hit 52.07, and the three-weeks RSI is set at 51.01 for Shopify Inc. [SHOP]. The present Moving Average for the last 50 days of trading for this stock 44.14, while it was recorded at 44.11 for the last single week of trading, and 36.70 for the last 200 days.

Shopify Inc. [SHOP]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Shopify Inc. [SHOP] shares currently have an operating margin of -11.86 and a Gross Margin at +48.52. Shopify Inc.’s Net Margin is presently recorded at -61.79.

Return on Equity for this stock declined to -35.73, with Return on Assets sitting at -28.72.

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 per share (EPS) analysis for Shopify Inc. [SHOP] stock

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%.

Shopify Inc. [SHOP]: Insider Ownership positions

There are presently around $33,731 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 $3.05 billion in SHOP stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $2.75 billion in SHOP stock with ownership of nearly 18.975% of the company’s market capitalization.

Positions in Shopify Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 479 institutional holders increased their position in Shopify Inc. [NYSE:SHOP] by around 122,129,200 shares. Additionally, 466 investors decreased positions by around 80,336,127 shares, while 133 investors held positions by with 566,248,143 shares. The mentioned changes placed institutional holdings at 768,713,470 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.


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