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Positives for Shopify Inc. (SHOP) as stock gains in recent trading

Shopify Inc. (NYSE: SHOP) is 26.19% higher on its value in year-to-date trading and has touched a low of $23.63 and a high of $78.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SHOP stock was last observed hovering at around $41.78 in the last trading session, with the day’s gains setting it 2.02% off its average median price target of $50.00 for the next 12 months. It is also 32.62% off the consensus price target high of $65.00 offered by 46 analysts, but current levels are -36.87% lower than the price target low of $32.00 for the same period.

Currently trading at $43.80, the stock is 0.75% and 1.15% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 16.79 million and changing 4.83% at the moment leaves the stock 20.03% off its SMA200. SHOP registered -19.54% loss for a year compared to 6-month gain of 24.57%.

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The stock witnessed a -9.32% loss in the last 1 month and extending the period to 3 months gives it a 14.12%, and is 3.16% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.54% over the week and 4.60% over the month.

Shopify Inc. (SHOP) has around 11600 employees, a market worth around $57.19B and $5.60B in sales. Fwd P/E is 203.72. Profit margin for the company is -61.80%. Distance from 52-week low is 85.35% and -43.85% from its 52-week high. The company has generated returns on investments over the last 12 months (-7.20%).

Shopify Inc. (SHOP) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Shopify Inc. (SHOP) is a “Overweight”. 46 analysts offering their recommendations for the stock have an average rating of 2.60, where 24 rate it as a Hold and 3 think it is a “Overweight”. 16 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

Shopify Inc. is expected to release its quarterly report on 05/02/2023.The EPS is expected to shrink by -219.40% this year.

Shopify Inc. (SHOP) Top Institutional Holders

The shares outstanding are 1.27B, and float is at 1.12B with Short Float at 4.10%.

Shopify Inc. (SHOP): Who are the competitors?

The company’s main competitors (and peers) include MercadoLibre Inc. (MELI) that is trading 36.25% up over the past 12 months and PC Connection Inc. (CNXN) that is -15.39% lower over the same period.

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