In today’s recent session, 2.79 million shares of the Shopify Inc (NYSE:SHOP) have been traded, and its beta is 2.19. Most recently the company’s share price was $73.48, and it changed around $2.93 or 4.15% from the last close, which brings the market valuation of the company to $94.58B. SHOP at last check was trading at a discount to its 52-week high of $91.57, offering almost -24.62% off that amount. The share price’s 52-week low was $45.50, which indicates that the recent value has risen by an impressive 38.08% since then. We note from Shopify Inc’s average daily trading volume that its 3-month average coming to 9.17 million.
Shopify Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.29. If we narrow it down even further, the data shows that 1 out of 29 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 10 recommended SHOP as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Shopify Inc is expected to report earnings per share of $0.17 for the current quarter.
Shopify Inc (NYSE:SHOP) trade information
Instantly SHOP has been showing a green trend so far today with a performance of 4.15% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -5.67% year-to-date, but still up 6.96% over the last five days. On the other hand, Shopify Inc (NYSE:SHOP) is -6.66% down in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $85.9, which translates to bulls needing to increase their stock price by 14.46% from its current value. Analyst projections state that SHOP is forecast to be at a low of $30 and a high of $200.
Shopify Inc (SHOP) estimates and forecasts
Shopify Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 43.69 percent over the past six months and at a 28.38% annual growth rate that is well above the industry average of 15.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 1,600.00% in revenue this quarter, and will report an increase of 64.30% in the next quarter. The year-over-year growth rate is expected to be 21.30%, up from the previous year.
Consensus estimates provided by 36 financial analysts predict the company will bring in an average of $1.84 billion in revenue for the current quarter. 35 analysts expect Shopify Inc to make $2.02 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.43 billion. Analysts predict that the company’s current quarter sales will jump, forecast at 28.90%.
Shopify Inc earnings are expected to increase by 37.91% in 2024, but the outlook is positive 59.89% per year for the next five years.
