In today’s recent session, 1.33 million shares of the Shopify Inc (NYSE:SHOP) have been traded, and its beta is 2.36. Most recently the company’s share price was $83.38, and it changed around $0.8 or 0.97% from the last close, which brings the market valuation of the company to $107.59B. SHOP at last check was trading at a discount to its 52-week high of $91.57, offering almost -9.82% off that amount. The share price’s 52-week low was $45.50, which indicates that the recent value has risen by an impressive 45.43% since then. We note from Shopify Inc’s average daily trading volume that its 10-day average is 5.15 million shares, with the 3-month average coming to 8.18 million.

Shopify Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.85. 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 0.36 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 0.97% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 84.11 on recent trading dayincreased the stock’s daily price by 0.87%. The company’s shares are currently up 7.04% year-to-date, but still up 5.41% over the last five days. On the other hand, Shopify Inc (NYSE:SHOP) is 22.32% up in the 30-day period. We can see from the shorts that 21.42 million shares have been sold at a short interest cover period of 3.62 day(s).

The consensus price target as assigned by Wall Street analysts is $80, which translates to bulls needing to decrease their stock price by -4.22% 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 15.84 percent over the past six months and at a 51.35% annual growth rate that is well above the industry average of 4.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 12.50% in revenue this quarter, and will report an increase of 8.70% in the next quarter. The year-over-year growth rate is expected to be 22.10%, up from the previous year.

Consensus estimates provided by 28 financial analysts predict the company will bring in an average of 2.88B in revenue for the current quarter. 27 analysts expect Shopify Inc to make 3.57B in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 22.00%.

Shopify Inc earnings are expected to increase by 53.85% in 2024, but the outlook is positive 43.00% per year for the next five years.

SHOP Dividends

Shopify Inc’s next quarterly earnings report is expected to be released on 2024-Oct-31.

Shopify Inc (NYSE:SHOP)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.18% of Shopify Inc shares, and 70.45% of them are in the hands of institutional investors. The stock currently has a share float of 70.57%. Shopify Inc stock is held by 1673.0 institutions, with BAILLIE GIFFORD & CO being the largest institutional investor. By 2024-06-30, it held 4.2905% of the shares, which is about 55.24 million shares worth $3.65 billion.

CAPITAL WORLD INVESTORS, with 3.7833% or 48.71 million shares worth $3.22 billion as of 2024-06-30, holds the second largest percentage of outstanding shares.