Shopify Inc [NYSE: SHOP] price surged by 0.01 percent to reach at $0.01. 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%.
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.
The one-year SHOP stock forecast points to a potential upside of 7.64. The average equity rating for SHOP stock is currently 2.30, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $83.94 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 2.30. 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 new note on the price target was released on December 18, 2023, representing the official price target for Shopify Inc stock. Previously, the target price had yet another raise to $65, while DZ Bank analysts kept a Sell rating on SHOP stock.
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 14.13. The Price to Book ratio for the last quarter was 11.00, with the Price to Cash per share for the same quarter was set at 3.89. Price to Free Cash Flow for SHOP in the course of the last twelve months was 111.23 with Quick ratio for the last quarter at 6.94.
SHOP Stock Performance Analysis:
Shopify Inc [SHOP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.53. With this latest performance, SHOP shares dropped by -4.63% in over the last four-week period, additionally plugging by 30.30% over the last 6 months – not to mention a rise of 73.52% 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 49.86, with the RSI for the last a single of trading hit 51.87, and the three-weeks RSI is set at 49.82 for Shopify Inc [SHOP]. The present Moving Average for the last 50 days of trading for this stock 79.46, while it was recorded at 77.86 for the last single week of trading, and 66.85 for the last 200 days.
Insight into Shopify Inc 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.
SHOP Stock EPS
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%.
Shopify Inc [SHOP] Institutonal Ownership Details
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%.
