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Shopify (SHOP) Stock Moves -0.32%: What You Should Know
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In the latest trading session, Shopify (SHOP - Free Report) closed at $49.64, marking a -0.32% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.73%, while the tech-heavy Nasdaq lost 4.59%.
Prior to today's trading, shares of the cloud-based commerce company had gained 36.66% over the past month. This has outpaced the Computer and Technology sector's gain of 14.64% and the S&P 500's gain of 5.83% in that time.
Shopify will be looking to display strength as it nears its next earnings release, which is expected to be February 15, 2023. In that report, analysts expect Shopify to post earnings of $0 per share. This would mark a year-over-year decline of 100%. Our most recent consensus estimate is calling for quarterly revenue of $1.64 billion, up 18.87% from the year-ago period.
Any recent changes to analyst estimates for Shopify should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.69% lower within the past month. Shopify is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Shopify is holding a Forward P/E ratio of 1206.09. This represents a premium compared to its industry's average Forward P/E of 24.61.
We can also see that SHOP currently has a PEG ratio of 90.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Services was holding an average PEG ratio of 1.63 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Shopify (SHOP) Stock Moves -0.32%: What You Should Know
In the latest trading session, Shopify (SHOP - Free Report) closed at $49.64, marking a -0.32% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.73%, while the tech-heavy Nasdaq lost 4.59%.
Prior to today's trading, shares of the cloud-based commerce company had gained 36.66% over the past month. This has outpaced the Computer and Technology sector's gain of 14.64% and the S&P 500's gain of 5.83% in that time.
Shopify will be looking to display strength as it nears its next earnings release, which is expected to be February 15, 2023. In that report, analysts expect Shopify to post earnings of $0 per share. This would mark a year-over-year decline of 100%. Our most recent consensus estimate is calling for quarterly revenue of $1.64 billion, up 18.87% from the year-ago period.
Any recent changes to analyst estimates for Shopify should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.69% lower within the past month. Shopify is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Shopify is holding a Forward P/E ratio of 1206.09. This represents a premium compared to its industry's average Forward P/E of 24.61.
We can also see that SHOP currently has a PEG ratio of 90.68. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Services was holding an average PEG ratio of 1.63 at yesterday's closing price.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.