In the latest trading session, 0.86 million Shopify Inc (NYSE:SHOP) shares changed hands as the company’s beta touched 2.45. With the company’s most recent per share price at $114.82 changing hands around $2.96 or 2.65% at last look, the market valuation stands at $148.37B. SHOP’s current price is a discount, trading about -1.33% off its 52-week high of $116.35. The share price had its 52-week low at $48.56, which suggests the last value was 57.71% up since then. When we look at Shopify Inc’s average trading volume, we note the 10-day average is 8.15 million shares, with the 3-month average coming to 7.31 million.
Analysts gave the Shopify Inc (SHOP) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.96. If we narrow down to specifics, the data shows that 0 out of 34 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 13 recommended SHOP as a Hold, 21 felt it is a Buy and 0 rated the stock as Underweight. Shopify Inc’s EPS for the current quarter is expected to be 0.43.
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Shopify Inc (NYSE:SHOP) trade information
Instantly SHOP is in green as seen in intraday trades today. With action 2.45%, the performance over the past five days has been green. The company’s shares are showing year-to-date upside of 47.40%, with the 5-day performance at 2.45% in the green. However, in the 30-day time frame, Shopify Inc (NYSE:SHOP) is 46.39% up. Looking at the short shares, we see there were 17.07 million shares sold at short interest cover period of 1.86 days.
The consensus price target for the stock as assigned by Wall Street analysts is 90, meaning bulls need a downside of -27.58% from its recent market value. According to analyst projections, SHOP’s forecast low is 65 with 130 as the target high. To hit the forecast high, the stock’s price needs a -13.22% plunge from its current level, while the stock would need to tank 43.39% for it to hit the projected low.
Shopify Inc (SHOP) estimates and forecasts
Data shows that the Shopify Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 87.47% over the past 6 months, a 67.57% in annual growth rate that is considerably higher than the industry average of 9.80%. Year-over-year growth is forecast to reach 24.56% up from the last financial year.
Consensus estimates given by 37 financial analysts project the company’s revenue in the current quarter to hit an average of 2.73B. 33 analysts are of the opinion that Shopify Inc’s revenue for the current quarter will be 2.32B. The company’s revenue for the corresponding quarters a year ago was 2.14B and 1.86B respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 27.22%. The estimates for the next quarter sales put growth at 24.42%.
The 2024 estimates are for Shopify Inc earnings to increase by 72.54%, but the outlook for the next 5-year period is at 42.48% per year.
SHOP Dividends
Shopify Inc is expected to release its next quarterly earnings report in January.
Shopify Inc (NYSE:SHOP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.18% of Shopify Inc shares while 71.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 72.11%. There are 71.98% institutions holding the Shopify Inc stock share, with BAILLIE GIFFORD & CO the top institutional holder. As of 2024-06-30, the company held 4.2905% of the shares, roughly 55.24 million SHOP shares worth $3.65 billion.
CAPITAL WORLD INVESTORS holds the second largest percentage of outstanding shares, with 3.7833% or 48.71 million shares worth $3.22 billion as of 2024-06-30.
Among Mutual Funds, the top two as of Sep 30, 2024 were Growth Fund of America Inc and Europacific Growth Fund. With 31.48 shares estimated at $3.61 billion under it, the former controlled 2.60% of total outstanding shares. On the other hand, Europacific Growth Fund held about 1.91% of the shares, roughly 23.18 shares worth around $2.66 billion.
