The Shopify Inc (NYSE: SHOP) Metrics You Need To Know Right Now

Shopify Inc (NYSE:SHOP) shares, rose in value on Thursday, April 04, with the stock price up by 0.88% to the previous day’s close as strong demand from buyers drove the stock to $76.31.

Actively observing the price movement in the recent trading, the stock is buoying the session at $75.64. The value of beta (5-year monthly) is 2.22 whereas the PE ratio is 847.83 over 12-month period. Referring to stock’s 52-week performance, its high was $91.57, and the low was $43.50. On the whole, SHOP has fluctuated by 3.86% over the past month.

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With the market capitalization of Shopify Inc currently standing at about $98.22 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 02, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.17, which is expected to increase to $0.44 for fiscal year $1.02 and then to about $1.33 by fiscal year 2025. Data indicates that the EPS growth is expected to be 39.70% in 2025, while the next year’s EPS growth is forecast to be 30.40%.

Analysts have estimated the company’s revenue for the quarter at $1.84 billion, with a low estimate of $1.8 billion and a high estimate of $1.88 billion. According to the average forecast, sales growth in current quarter could jump up 28.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $8.55 billion, representing an increase of 21.10% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that SHOP’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 14.16, with the price of SHOP currently trading nearly -1.57% and -3.57% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.32, while the 7-day volatility ratio is showing 3.49% which for the 30-day chart, stands at 3.42%. Furthermore, Shopify Inc (SHOP)’s beta value is 2.20, and its average true range (ATR) is 2.69.

A comparison of Shopify Inc (SHOP) with its peers suggests the former has fared considerably weaker in the market. SHOP showed an intraday change of 0.88% in today’s session so far, and over the past year, it grew by 60.04%%.

Data on historical trading for Shopify Inc (NYSE:SHOP) indicates that the trading volumes over the past 10 days have averaged 6.35 million and over the past 3 months, they’ve averaged 9.65 million. According to company’s latest data on outstanding shares, there are 1.21 billion shares outstanding.

Nearly 6.70% of Shopify Inc’s shares belong to company insiders and institutional investors own 65.64% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.13 million shares as on Mar 15, 2024, resulting in a short ratio of 2.09. According to the data, the short interest in Shopify Inc (SHOP) stood at 1.41% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 22.05 million. The stock has fallen by -2.05% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SHOP stock heading into the next quarter.