In last trading session, Shopify Inc (NYSE:SHOP) saw 4.46 million shares changing hands with its beta currently measuring 2.21. Company’s recent per share price level of $78.72 trading at -$0.87 or -1.09% at ring of the bell on the day assigns it a market valuation of $101.28B. That closing price of SHOP’s stock is at a discount of -16.32% from its 52-week high price of $91.57 and is indicating a premium of 44.74% from its 52-week low price of $43.50. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 7.45 million shares which gives us an average trading volume of 10.01 million if we extend that period to 3-months.
Shopify Inc (NYSE:SHOP) trade information
Upright in the red during last session for losing -1.09%, in the last five days SHOP remained trading in the green while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $78.72 price level, adding 5.6% to its value on the day. Shopify Inc’s shares saw a change of 1.05% in year-to-date performance and have moved 2.03% in past 5-day. Shopify Inc (NYSE:SHOP) showed a performance of 4.92% in past 30-days. Number of shares sold short was 19.06 million shares which calculate 1.54 days to cover the short interests.
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 46.59% of value to its shares in past 6 months, showing an annual growth rate of 27.03% while that of industry is 25.00. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 1,600.00% in the current quarter and calculating 64.30% increase in the next quarter. This year revenue growth is estimated to rise 21.10% from the last financial year’s standing.
36 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.84 billion for the same. And 35 analysts are in estimates of company making revenue of $2.02 billion in the next quarter that will end on Jun 2024.
In 2024, company’s earnings growth rate is likely to be around 39.25% while estimates for its earnings growth in next 5 years are of 59.89%.
SHOP Dividends
Shopify Inc is more likely to be releasing its next quarterly report between May 02 and May 06 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 0.19% of company’s total shares while institution are holding 70.80 percent of that, with stock having share float percentage of 70.93%. Investors also watch the number of corporate investors in a company very closely, which is 70.80% 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.
