Shopify Inc. (NYSE:SHOP)’s traded shares stood at 3.75 million during the latest session, with the company’s beta value hitting 2.02. At the last check today, the stock’s price was $44.84, to imply an increase of 0.38% or $0.17 in intraday trading. The SHOP share’s 52-week high remains $78.00, putting it -73.95% down since that peak but still an impressive 47.3% since price per share fell to its 52-week low of $23.63. The company has a valuation of $58.33B, with an average of 17.33 million shares in intraday trading volume over the past 10 days and average of 20.14 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Shopify Inc. (SHOP), translating to a mean rating of 2.60. Of 47 analyst(s) looking at the stock, 2 analyst(s) give SHOP a Sell rating. 3 of those analysts rate the stock as Overweight while 25 advise Hold as 16 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.04.
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Shopify Inc. (NYSE:SHOP) trade information
After registering a 0.38% upside in the latest session, Shopify Inc. (SHOP) has traded red over the past five days. The stock hit a weekly high of 44.85 this Thursday, 03/16/23, jumping 0.38% in its intraday price action. The 5-day price performance for the stock is 8.15%, and -16.01% over 30 days. With these gigs, the year-to-date price performance is 29.18%. Short interest in Shopify Inc. (NYSE:SHOP) saw shorts transact 45.89 million shares and set a 2.04 days time to cover.
Analysts on Wall Street suggest a consensus price target of $48.94, implying an increase of 8.38% to the stock’s recent value. The extremes give us $32.00 and $65.00 for target low and target high price respectively. As such, SHOP has been trading -44.96% off suggested target high and 28.64% from its likely low.
Shopify Inc. (SHOP) estimates and forecasts
Looking at statistics comparing Shopify Inc. share performance against respective industry, we note that the company has underperformed competitors. Shopify Inc. (SHOP) shares are 32.47% up over the last 6 months, with its year-to-date growth rate lower than industry average at -50.00% against 17.50%. Revenue is forecast to shrink -300.00% this quarter before jumping 66.70% for the next one. The rating firms project that company’s revenue will grow 18.80% compared to the previous financial year.
Revenue forecast for the current quarter as set by 34 analysts is $1.43 billion. Meanwhile, for the quarter ending Jun 2023, a total of 33 analyst(s) estimate revenue growth to $1.57 billion.Earnings reports from the last fiscal year show that sales brought in $1.2 billion and $1.3 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 18.60% before jumping 20.90% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 54.42% for the past 5-year period. While 2023 is set for a -219.40% return in earnings, projections for the next 5 years are at 11.84% annually.
Shopify Inc. has its next earnings report out between May 03 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Shopify Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Shopify Inc. (NYSE:SHOP)’s Major holders
Shopify Inc. insiders hold 0.20% of total outstanding shares, with institutional holders owning 69.57% of the shares at 69.71% float percentage. In total, 69.57% institutions holds shares in the company, led by Baillie Gifford and Company. As of Dec 30, 2022, the company held over 72.45 million shares (or 5.42% of shares), all amounting to roughly $3.23 billion.
The next major institution holding the largest number of shares is Morgan Stanley with 69.47 million shares, or about 5.19% of shares outstanding. As of the market price on Dec 30, 2022, these shares were worth $3.09 billion.
We also have Europacific Growth Fund and Growth Fund Of America Inc as the top two Mutual Funds with the largest holdings of the Shopify Inc. (SHOP) shares. Going by data provided on Dec 30, 2022, Europacific Growth Fund holds roughly 44.47 million shares. This is just over 3.33% of the total shares, with a market valuation of $1.98 billion. Data from the same date shows that the other fund manager holds a little less at 18.02 million, or 1.35% of the shares, all valued at about 802.77 million.