Shopify Inc [SHOP] moved down -1.80: Why It’s Important

Shopify Inc [NYSE: SHOP] traded at a low on Tuesday, posting a -1.80 loss after which it closed the day’ session at $66.13.

The results of the trading session contributed to over 6519567 shares changing hands. Over the past one week, the price volatility of Shopify Inc stands at 2.16% while the volatility over the past one month is 2.86%.

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The market cap for SHOP stock reached $85.22 billion, with 1.21 billion shares outstanding and 1.21 billion shares in the current float. Compared to the average trading volume of 10.75M shares, SHOP reached a trading volume of 6519567 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 $75.86 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 1.92. 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.

Citigroup have made an estimate for Shopify Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 26, 2024. The new note on the price target was released on June 14, 2024, representing the official price target for Shopify Inc stock. Previously, the target price had yet another raise to $74, while JP Morgan analysts kept a Overweight rating on SHOP stock. On June 06, 2024, analysts decreased their price target for SHOP shares from 74 to 65.

The Average True Range (ATR) for Shopify Inc is set at 1.88, with the Price to Sales ratio for SHOP stock in the period of the last 12 months amounting to 11.50. The Price to Book ratio for the last quarter was 9.58, with the Price to Cash per share for the same quarter was set at 4.02. Price to Free Cash Flow for SHOP in the course of the last twelve months was 81.72 with Quick ratio for the last quarter at 7.14.

How has SHOP stock performed recently?

Shopify Inc [SHOP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.32. With this latest performance, SHOP shares gained by 7.60% in over the last four-week period, additionally sinking by -11.25% over the last 6 months – not to mention a rise of 7.23% 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 54.37, with the RSI for the last a single of trading hit 54.35, and the three-weeks RSI is set at 52.44 for Shopify Inc [SHOP]. The present Moving Average for the last 50 days of trading for this stock 63.99, while it was recorded at 66.78 for the last single week of trading, and 68.96 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 7.14 and a Current Ratio set at 7.14.

Earnings analysis for Shopify Inc [SHOP]

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 36.46%.

Insider trade positions for Shopify Inc [SHOP]

The top three institutional holders of SHOP stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in SHOP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in SHOP stock with ownership which is approximately 5.1238%.