The consensus among analysts is that Shopify Inc. (SHOP) is an Overweight stock at the moment, with a recommendation rating of 2.6. 2 analysts rate the stock as a Sell, while 2 rate it as Overweight. 17 out of 33 have rated it as a Hold, with 11 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.49.

Shopify Inc. (NYSE:SHOP) trade information

Despite being -4.2% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Sep 01 when the SHOP stock price touched $1146 or saw a rise of 15.16%. Year-to-date, Shopify Inc. shares have moved 144.74%, while the 5-day performance has seen it change -6.63%. Over the past 30 days, the shares of Shopify Inc. (NYSE:SHOP) have changed -9.91%. Short interest in the company has seen 1.72 Million shares shorted with days to cover at 0.7.

Wall Street analysts have a consensus price target for the stock at $1102.24, which means that the shares’ value could jump 13.28% from current levels. The projected low price target is $450 while the price target rests at a high of $1400. In that case, then, we find that the current price level is +43.88% off the targeted high while a plunge would see the stock lose -53.75% from current levels.

Shopify Inc. (SHOP) estimates and forecasts

Figures show that Shopify Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +132.6% over the past 6 months, with this year growth rate of 646.67%, compared to 5.2% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 269% and 53.5% for the next quarter. Revenue growth from the last financial year stood is estimated to be +64%.

27 analysts offering their estimates for the company have set an average revenue estimate of $647.42 Million for the current quarter. 26 have an estimated revenue figure of $780.97 Million for the next quarter concluding in December 01, 2020. Year-ago sales stood $390.55 Million and $505.16 Million respectively for this quarter and the next, and analysts expect sales will grow by 65.8% for the current quarter and 54.6% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -29.8% over the past 5 years. Earnings growth for 2020 is a modest -80.8%.

Shopify Inc. (NYSE:SHOP)’s Major holders

Insiders own 0.4% of the company shares, while shares held by institutions stand at 73.45% with a share float percentage of 73.74%. Investors are also buoyed by the number of investors in a company, with Shopify Inc. having a total of 940 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 8.17 Million shares worth more than $7.75 Billion. As of June 29, 2020, FMR, LLC held 7.54% of shares outstanding.

The other major institutional holder is Capital World Investors, with the holding of over 5.93 Million shares as of June 29, 2020. The firm’s total holdings are worth over $5.63 Billion and represent 5.48% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Europacific Growth Fund and Fidelity Growth Company Fund. As of June 29, 2020, the former fund manager holds about 2.65% shares in the company for having 2866300 shares of worth $2.72 Billion while later fund manager owns 2.7 Million shares of worth $2.57 Billion as of June 29, 2020, which makes it owner of about 2.5% of company’s outstanding stock.