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Shopify (SHOP) Gains As Market Dips: What You Should Know
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Shopify (SHOP - Free Report) closed at $25.99 in the latest trading session, marking a +1.25% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Coming into today, shares of the cloud-based commerce company had lost 21.5% in the past month. In that same time, the Computer and Technology sector lost 14.71%, while the S&P 500 lost 11.67%.
Wall Street will be looking for positivity from Shopify as it approaches its next earnings report date. This is expected to be October 27, 2022. The company is expected to report EPS of -$0.07, down 187.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.34 billion, up 19.57% from the prior-year quarter.
SHOP's full-year Zacks Consensus Estimates are calling for earnings of -$0.10 per share and revenue of $5.49 billion. These results would represent year-over-year changes of -115.63% and +18.96%, respectively.
Investors should also note any recent changes to analyst estimates for Shopify. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.97% lower within the past month. Shopify is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Shopify (SHOP) Gains As Market Dips: What You Should Know
Shopify (SHOP - Free Report) closed at $25.99 in the latest trading session, marking a +1.25% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.33%. Meanwhile, the Dow lost 0.1%, and the Nasdaq, a tech-heavy index, lost 0.27%.
Coming into today, shares of the cloud-based commerce company had lost 21.5% in the past month. In that same time, the Computer and Technology sector lost 14.71%, while the S&P 500 lost 11.67%.
Wall Street will be looking for positivity from Shopify as it approaches its next earnings report date. This is expected to be October 27, 2022. The company is expected to report EPS of -$0.07, down 187.5% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.34 billion, up 19.57% from the prior-year quarter.
SHOP's full-year Zacks Consensus Estimates are calling for earnings of -$0.10 per share and revenue of $5.49 billion. These results would represent year-over-year changes of -115.63% and +18.96%, respectively.
Investors should also note any recent changes to analyst estimates for Shopify. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.97% lower within the past month. Shopify is holding a Zacks Rank of #3 (Hold) right now.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 53, putting it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.