At the time of writing, Shopify Inc [SHOP] stock is trading at $77.52, up 0.48%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The SHOP shares have gain 3.40% over the last week, with a monthly amount drifted -7.71%, and not seem to be holding up well over a long-time horizon.
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On 13, February 2024, Shopify Announces Fourth-Quarter and Full-Year 2023 Financial Results. In a post published today on Yahoo Finance, Fourth Quarter Revenue up 24% and Free Cash Flow Margin Hits 21%;Full Year Revenue up 26% and Free Cash Flow Margin Achieves 13%.
From an analyst’s perspective:
Shopify Inc [NYSE: SHOP] stock has seen the most recent analyst activity on January 18, 2024, when Exane BNP Paribas downgraded its rating to a Underperform. Previously, JMP Securities downgraded its rating to Mkt Perform on December 18, 2023. On December 12, 2023, downgrade downgraded it’s rating to Sell but maintained its price target of $65 on the stock. Wedbush downgraded its rating to a Neutral. Piper Sandler downgraded its rating to a Underweight and reduced its price target to $56 on November 28, 2023. Exane BNP Paribas upgraded its rating to Neutral for this stock on November 01, 2023, but kept the price target unchanged to $50. In a note dated October 31, 2023, Wells Fargo initiated an Overweight rating and provided a target price of $65 on this stock.
For the past year, the stock price of Shopify Inc fluctuated between $42.02 and $91.57. Currently, Wall Street analysts expect the stock to reach $82.36 within the next 12 months. Shopify Inc [NYSE: SHOP] shares were valued at $77.52 at the most recent close of the market. An investor can expect a potential return of 6.24% based on the average SHOP price forecast.
Analyzing the SHOP fundamentals
According to Shopify Inc [NYSE:SHOP], the company’s sales were 7.06B for trailing twelve months, which represents an 23.58% jump. Gross Profit Margin for this corporation currently stands at 0.5% with Operating Profit Margin at -0.21%, Pretax Profit Margin comes in at 0.03%, and Net Profit Margin reading is 0.02%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.02 and Total Capital is -0.14. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.13.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 76.52 points at the first support level, and at 75.52 for the second support level. However, for the 1st resistance point, the stock is sitting at 78.26, and for the 2nd resistance point, it is at 79.00.
Shopify Inc [SHOP] reported earnings per share of $0.34 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.31/share, meaning a difference of $0.03 and a surprise factor of 9.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.24 per share as compared to estimates of $0.14 per share, a difference of $0.1 representing a surprise of 71.40%.
Ratios To Look Out For
It is important to note that Shopify Inc [NYSE:SHOP] has a current ratio of 6.94. As well, the Quick Ratio is 6.94, while the Cash Ratio is 1.57. Considering the valuation of this stock, the price to sales ratio is 14.13, the price to book ratio is 11.00 and price to earnings (TTM) ratio is 861.33.
