Shopify Inc [SHOP] Revenue clocked in at $6.65 billion, up 7.24% YTD: What’s Next?

Shopify Inc [NYSE: SHOP] gained 2.44% on the last trading session, reaching $83.54 price per share at the time. The company report on January 23, 2024 at 7:00 AM that Shopify to Announce Fourth-Quarter and Fiscal 2023 Financial Results February 13, 2024.

Internet, Everywhere–(Newsfile Corp. – January 23, 2024) – Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, plans to announce financial results for its fourth quarter and full-year 2023, which ended December 31, 2023, before markets open on Tuesday, February 13, 2024.

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Shopify’s management team will host a conference call to discuss fourth-quarter results at 8:30 a.m. ET on Tuesday, February 13, 2024. The conference call will be available via webcast on the investor relations section of Shopify’s website at https://investors.shopify.com/news-and-events/.

If compared to the average trading volume of 11.05M shares, SHOP reached a trading volume of 6459911 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 $76.79 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 2.73, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 2.30. The Price to Book ratio for the last quarter was 12.95, 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 21.56 with Quick ratio for the last quarter at 7.23.

Trading performance analysis for SHOP stock

Shopify Inc [SHOP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.09. With this latest performance, SHOP shares gained by 6.64% in over the last four-week period, additionally plugging by 26.50% over the last 6 months – not to mention a rise of 72.85% 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 65.85, with the RSI for the last a single of trading hit 69.16, and the three-weeks RSI is set at 64.41 for Shopify Inc [SHOP]. The present Moving Average for the last 50 days of trading for this stock 75.74, while it was recorded at 81.49 for the last single week of trading, and 62.63 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%.