Shopify Inc [SHOP] is 4.35% higher this YTD. Is it still time to buy?

Shopify Inc [NYSE: SHOP] slipped around -2.71 points on Friday, while shares priced at $81.29 at the close of the session, down -3.23%. The company report on February 13, 2024 at 7:00 AM that Shopify Announces Fourth-Quarter and Full-Year 2023 Financial Results.

Fourth Quarter Revenue up 24% and Free Cash Flow Margin Hits 21%;Full Year Revenue up 26% and Free Cash Flow Margin Achieves 13%.

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Internet, Everywhere–(Newsfile Corp. – February 13, 2024) – Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, announced today financial results for the quarter and year ended December 31, 2023.

Compared to the average trading volume of 10.83M shares, SHOP reached a trading volume of 13619995 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 $82.46 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 2.40. 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 3.87, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 14.79. The Price to Book ratio for the last quarter was 11.54, with the Price to Cash per share for the same quarter was set at 3.90. Price to Free Cash Flow for SHOP in the course of the last twelve months was 116.41 with Quick ratio for the last quarter at 6.94.

How has SHOP stock performed recently?

Shopify Inc [SHOP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.39. With this latest performance, SHOP shares gained by 4.86% in over the last four-week period, additionally plugging by 52.74% over the last 6 months – not to mention a rise of 52.26% 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 49.79, with the RSI for the last a single of trading hit 47.59, and the three-weeks RSI is set at 51.55 for Shopify Inc [SHOP]. The present Moving Average for the last 50 days of trading for this stock 78.99, while it was recorded at 82.45 for the last single week of trading, and 65.10 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 6.94 and a Current Ratio set at 6.94.

Earnings analysis for Shopify Inc [SHOP]

With the latest financial reports released by the company, Shopify Inc posted 0.01/share EPS, while the average EPS was predicted by analysts to be reported at -0.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 125.00%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Shopify Inc go to 59.89%.

Insider trade positions for 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%.