During the last session, Shopify Inc (NYSE:SHOP)’s traded shares were 8.51 million, with the beta value of the company hitting 2.20. At the end of the trading day, the stock’s price was $74.81, reflecting an intraday loss of -1.10% or -$0.83. The 52-week high for the SHOP share is $91.57, that puts it down -22.4 from that peak though still a striking 41.85% gain since the share price plummeted to a 52-week low of $43.50. The company’s market capitalization is $96.29B, and the average intraday trading volume over the past 10 days was 6.36 million shares, and the average trade volume was 9.65 million shares over the past three months.
Shopify Inc (NYSE:SHOP) trade information
Shopify Inc (SHOP) registered a -1.10% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.10% in intraday trading to $74.81, hitting a weekly high. The stock’s 5-day price performance is -4.85%, and it has moved by 1.82% in 30 days. Based on these gigs, the overall price performance for the year is 56.90%. The short interest in Shopify Inc (NYSE:SHOP) is 18.13 million shares and it means that shorts have 2.09 day(s) to cover.
Shopify Inc (SHOP) estimates and forecasts
Statistics show that Shopify Inc has outperformed its competitors in share price, compared to the industry in which it operates. Shopify Inc (SHOP) shares have gone up 45.60% during the last six months, with a year-to-date growth rate more than the industry average at 27.03% against 17.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 1,600.00% this quarter and then jump 64.30% in the quarter after that. In the rating firms’ projections, revenue will increase 21.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.84 billion as predicted by 36 analyst(s). Meanwhile, a consensus of 35 analyst(s) estimates revenue growth to $2.02 billion by the end of Jun 2024.
While earnings are projected to return 39.37% in 2024, the next five years will return 59.89% per annum.
SHOP Dividends
Shopify Inc is due to release its next quarterly earnings between May 02 and May 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Shopify Inc (NYSE:SHOP)’s Major holders
Shopify Inc insiders own 0.19% of total outstanding shares while institutional holders control 70.81%, with the float percentage being 70.94%. Baillie Gifford and Company is the largest shareholder of the company, while 1,629 institutions own stock in it. As of Jun 29, 2023, the company held over 65.55 million shares (or 5.44% of all shares), a total value of $4.23 billion in shares.
The next largest institutional holding, with 63.4 million shares, is of Morgan Stanley’s that is approximately 5.26% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $4.1 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Shopify Inc (SHOP) shares are Europacific Growth Fund and Growth Fund Of America Inc. Data provided on Jun 29, 2023 indicates that Europacific Growth Fund owns about 30.7 million shares. This amounts to just over 2.55 percent of the company’s overall shares, with a $1.98 billion market value. The same data shows that the other fund manager holds slightly less at 17.09 million, or about 1.42% of the stock, which is worth about $1.1 billion.
