Shopify Inc. (NYSE:SHOP) finished Thursday with a subtraction of -$1.98 to close at $28.57, a downside of -6.48 percent. An average of 29,299,600 shares of common stock have been traded in the last five days. There was a fall of -$5.28 in the past week, and it reached a new high 13 times over the past 12 months. The last 20 days have seen an average of 28,041,400 shares traded, while the 50-day average volume stands at 31,062,770.
SHOP stock has decreased by -12.01% in the last month. The company shares reached their 1-month lowest point of $28.32 on 09/22/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $29.07 and a high of $176.29 in 52 weeks. It has reached a new high 1 time so far this year and lost -79.26% or -$109.17 in price. In spite of this, the price is down -83.79% from the 52-week high.
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Shopify Inc. (SHOP) stock’s beta is 1.80. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.69, the price-to-book (PB) ratio at 4.13, and the price-to-cash flow ratio at 654.60.
The quick ratio of Shopify Inc. for the three months ended June 29 was 11.20, and the current ratio was 11.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.10 and a total debt to equity ratio of 0.10 for the quarter ending June 29. Its gross profit as reported stood at $2.48 billion compared to revenue of $4.61 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Shopify Inc.’s return on assets was -15.40%.
For the three-month period that ended June 29, Shopify Inc. had $5.27 billion in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $2.91 billion in the quarter, while revenues were grew 89.04%. The analyst consensus anticipated Shopify Inc.’s latest quarter earnings to come in at $0.03 per share, but it turned out to be -$0.04, a -233.30% surprise. For the quarter, EBITDA amounted to -$173.81 million.
From a technical analysis perspective, let’s take a brief look at Shopify Inc. (SHOP) price momentum. RSI 9-day as of the close on 22 September was 32.33%, suggesting the stock is Neutral, with historical volatility in this time frame at 64.62%.
As of today, SHOP’s price is $30.95 -15.60% or -$5.28 from its 5-day moving average. SHOP is currently trading -14.18% lower than its 20-day SMA and -33.06% lower than its 100-day SMA. However, the stock’s current price level is -11.14% below the SMA50 and -79.99% below the SMA200.
The stochastic %K and %D were 17.73% and 31.69%, respectively, and the average true range (ATR) was 2.12. With the 14-day stochastic at 3.34% and the average true range at 2.22, the RSI (14) stands at 36.93%. The stock has reached -2.21 on the 9-day MACD Oscillator while the 14-day reading was at -1.96.
Atlantic Equities upgraded Shopify Inc. (NYSE: SHOP) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Shopify Inc. (SHOP) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell SHOP, while 22 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 15 others rate it as a “buy”.
What is SHOP’s price target for the next 12 months?
Analysts predict a range of price targets between $29.00 and $75.00, with a median target of $40.00. Taking a look at these predictions, the average price target given by analysts for Shopify Inc. (SHOP) stock is $41.74.