Shopify Inc (NYSE:SHOP) does about 8.98M shares in volume on a normal day but saw 11024660 shares change hands in Monday trading. The company now has a market cap of 99.59B USD. Its current market price is $77.37, marking an increase of 3.91% compared to the previous close of $74.46. The 52 week high reached by this stock is $91.57 whilst the lowest price level in 52 weeks is $45.50.
Shopify Inc (SHOP) has a 20-day trading average at $71.50 and the current price is -15.51% off the 52-week high compared with 70.04% distance from its 52-week low. The 50-day simple moving average of the closing price is $74.74 and its 200-day simple moving average is $68.47. If we look at the stock’s price movements over the week, volatility stands at 4.27%, which decreases to 3.32% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 61.39 to suggest the stock is neutral.
The consensus objective for the share price is $84.78, suggesting that the stock has a potential upside of 8.74% over the period.
Citigroup also upgraded the stock to “Buy” from Neutral on April 29, 2024 at a price target of $93-$105. Morgan Stanley upgraded its price target at $74-$85.
Shopify Inc (SHOP) stock is up 6.75% over the week and 2.78% over the past month. Its price is -0.68% year-to-date and 35.03% over the past year.
To reach the target analysts have set, the stock logically needs to grow 8.74 percent from here.
The company has a return on investment of 1.30% and return on equity of 1.54%. The price to earnings ratio (P/E ratio) amounts to 859.67 while the forward price to earnings ratio is 55.56. The beta has a value of 2.33. Price to book ratio is 10.98 and price to sales ratio is 14.11.
