Shopify Inc [NYSE: SHOP] gained 3.21% or 2.49 points to close at $80.01 with a heavy trading volume of 10217389 shares. The company report on January 13, 2024 at 11:18 AM that Shopify and Manhattan to Build Unified Commerce Solution.
Industry leaders will elevate omnichannel shopping experiences and help grow retailer profits.
Manhattan Associates (NASDAQ: MANH), the global leader in supply chain commerce, and leading global commerce company, Shopify (NYSE, TSX: SHOP), announced a new alliance today to help retailers build world-class unified omnichannel shopping experiences. Shopify’s commerce platform will be combined with Manhattan’s leading omnichannel order management solution to help enterprises create exceptional customer experiences at every step of the sales journey.
The daily chart for SHOP points out that the company has recorded 22.26% gains over the past six months.
If we look at the average trading volume of 11.36M shares, SHOP reached to a volume of 10217389 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 $76.02 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 2.38. 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.
Exane BNP Paribas have made an estimate for Shopify Inc shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 18, 2024.
The Average True Range (ATR) for Shopify Inc is set at 2.88, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 2.20. The Price to Book ratio for the last quarter was 12.40, with the Price to Cash per share for the same quarter was set at 26.89. Price to Free Cash Flow for SHOP in the course of the last twelve months was 20.65 with Quick ratio for the last quarter at 7.23.
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 -1.59. With this latest performance, SHOP shares gained by 3.73% in over the last four-week period, additionally plugging by 22.26% over the last 6 months – not to mention a rise of 104.26% 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 58.63, with the RSI for the last a single of trading hit 57.27, and the three-weeks RSI is set at 59.59 for Shopify Inc [SHOP]. The present Moving Average for the last 50 days of trading for this stock 73.47, while it was recorded at 80.11 for the last single week of trading, and 61.56 for the last 200 days.
Shopify Inc [SHOP]: A deeper dive into fundamental analysis
Shopify Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.23 and a Current Ratio set at 7.23.
Shopify Inc [SHOP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Shopify Inc posted 0.07/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 800.00%. 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.
An analysis of Institutional ownership at Shopify Inc [SHOP]
The top three institutional holders of SHOP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SHOP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SHOP stock with ownership which is approximately 5.8325%.
