In today’s recent session, 2.64 million shares of the Shopify Inc (NYSE:SHOP) have been traded, and its beta is 2.40. Most recently the company’s share price was $104.00, and it changed around -$1.88 or -1.78% from the last close, which brings the market valuation of the company to $188.46B. SHOP at last check was trading at a discount to its 52-week high of $115.62, offering almost -11.17% off that amount. The share price’s 52-week low was $48.56, which indicates that the recent value has risen by an impressive 53.31% since then. We note from Shopify Inc’s average daily trading volume that its 10-day average is 15.91 million shares, with the 3-month average coming to 6.82 million.
Shopify Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.94. If we narrow it down even further, the data shows that 1 out of 52 analysts rate the stock as a Sell; another 10 rate it as Overweight. Among the rest, 20 recommended SHOP as a Hold, whereas 20 deemed it a Buy, and 1 rated it as Underweight. Shopify Inc is expected to report earnings per share of 0.43 for the current quarter.
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Shopify Inc (NYSE:SHOP) trade information
Instantly SHOP has been showing red trend so far today with a performance of -1.78% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 115.62 on recent trading dayincreased the stock’s daily price by 10.05%. The company’s shares are currently up 33.50% year-to-date, but still down -4.52% over the last five days. On the other hand, Shopify Inc (NYSE:SHOP) is 25.82% 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 4.62 day(s).
The consensus price target as assigned by Wall Street analysts is $84, which translates to bulls needing to decrease their stock price by -23.81% 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 82.39 percent over the past six months and at a 54.05% annual growth rate that is well above the industry average of 9.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 25.35% in revenue this quarter, and will report an increase of 36.98% in the next quarter. The year-over-year growth rate is expected to be 24.56%, up from the previous year.
Consensus estimates provided by 37 financial analysts predict the company will bring in an average of 2.73B in revenue for the current quarter. 33 analysts expect Shopify Inc to make 2.32B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 2.14B and 1.86B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 27.16%. Forecasts for the next quarter put sales growth at 24.47%.
Shopify Inc earnings are expected to increase by 71.49% in 2024, but the outlook is positive 44.00% per year for the next five years.
SHOP Dividends
Shopify Inc’s next quarterly earnings report is expected to be released on 2024-Nov-12.
Shopify Inc (NYSE:SHOP)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.18% of Shopify Inc shares, and 71.72% of them are in the hands of institutional investors. The stock currently has a share float of 71.85%. Shopify Inc stock is held by 1712.0 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.
Growth Fund of America Inc and Europacific Growth Fund were the top two Mutual Funds as of Sep 30, 2024. The former held 31.48 shares worth $3.28 billion, making up 2.60% of all outstanding shares. On the other hand, Europacific Growth Fund held roughly 21.77 shares worth around $2.27 billion, which represents about 1.80% of the total shares outstanding.
