In last trading session, Shopify Inc. (NYSE:SHOP) saw 8.02 million shares changing hands with its beta currently measuring 2.05. Company’s recent per share price level of $62.38 trading at -$1.02 or -1.61% at ring of the bell on the day assigns it a market valuation of $82.25B. That closing price of SHOP’s stock is at a discount of -14.51% from its 52-week high price of $71.43 and is indicating a premium of 62.12% from its 52-week low price of $23.63. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 10.83 million shares which gives us an average trading volume of 11.24 million if we extend that period to 3-months.
For Shopify Inc. (SHOP), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.50. Splitting up the data highlights that, out of 47 analysts covering the stock, 2 rated the stock as a Sell while 3 recommended an Overweight rating for the stock. 25 suggested the stock as a Hold whereas 17 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.14 in the current quarter.
In today's chaotic marketplace, the biggest gains will come from some currently-small companies that pass by older, larger businesses still stuck in a pre-pandemic world. The trick is figuring out which small caps will be tomorrow's winners. That's why StockWire News has put together a special Wealth Building Report, highlighting 3 small cap stocks set to soar in 2023.
Click here for full details and to join for free
Shopify Inc. (NYSE:SHOP) trade information
Upright in the red during last session for losing -1.61%, in the last five days SHOP remained trading in the red while hitting it’s week-highest on Tuesday, 09/12/23 when the stock touched $62.38 price level, adding 3.91% to its value on the day. Shopify Inc.’s shares saw a change of 79.72% in year-to-date performance and have moved -1.00% in past 5-day. Shopify Inc. (NYSE:SHOP) showed a performance of 12.72% in past 30-days. Number of shares sold short was 25.76 million shares which calculate 2.04 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $68.02 to the stock, which implies a rise of 8.29% to its current value. Analysts have been projecting $52.00 as a low price target for the stock while placing it at a high target of $80.00. It follows that stock’s current price would drop -28.25% in reaching the projected high whereas dropping to the targeted low would mean a gain of 16.64% for stock’s current value.
Shopify Inc. (SHOP) estimates and forecasts
Statistics highlight that Shopify Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 39.65% of value to its shares in past 6 months, showing an annual growth rate of 750.00% while that of industry is 20.40. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 800.00% in the current quarter and calculating 214.30% increase in the next quarter. This year revenue growth is estimated to rise 24.10% from the last financial year’s standing.
33 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.67 billion for the same. And 33 analysts are in estimates of company making revenue of $2.08 billion in the next quarter that will end on Dec 2023. Company posted $1.37 billion and $1.73 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 22.40% while estimating it to be 19.90% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 21.28% during past 5 years.
SHOP Dividends
Shopify Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Shopify Inc. (NYSE:SHOP)’s Major holders
Insiders are in possession of 0.22% of company’s total shares while institution are holding 65.87 percent of that, with stock having share float percentage of 66.01%. Investors also watch the number of corporate investors in a company very closely, which is 65.87% institutions for Shopify Inc. that are currently holding shares of the company. Baillie Gifford and Company is the top institutional holder at SHOP for having 65.55 million shares of worth $4.23 billion. And as of Jun 29, 2023, it was holding 5.44% of the company’s outstanding shares.
The second largest institutional holder is Morgan Stanley, which was holding about 63.4 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 5.26% of outstanding shares, having a total worth of $4.1 billion.
On the other hand, Europacific Growth Fund and Growth Fund Of America Inc are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 30.7 million shares of worth $1.98 billion or 2.55% of the total outstanding shares. The later fund manager was in possession of 17.09 million shares on Jun 29, 2023, making its stake of worth around $1.1 billion in the company or a holder of 1.42% of company’s stock.
- Tags: NYSE:SHOP, SHOP, SHOP stock, Shopify Inc.
