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Shopify (SHOP) Surpasses Market Returns: Some Facts Worth Knowing
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Shopify (SHOP - Free Report) ended the recent trading session at $79.11, demonstrating a +0.98% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.04%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Coming into today, shares of the cloud-based commerce company had gained 6.83% in the past month. In that same time, the Computer and Technology sector gained 4.9%, while the S&P 500 gained 5.28%.
Analysts and investors alike will be keeping a close eye on the performance of Shopify in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.31, showcasing a 342.86% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $2.07 billion, indicating a 19.13% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.70 per share and a revenue of $6.98 billion, indicating changes of +1650% and +24.7%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Shopify. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Shopify is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Shopify is presently being traded at a Forward P/E ratio of 112.03. This represents a premium compared to its industry's average Forward P/E of 27.93.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SHOP in the coming trading sessions, be sure to utilize Zacks.com.
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Shopify (SHOP) Surpasses Market Returns: Some Facts Worth Knowing
Shopify (SHOP - Free Report) ended the recent trading session at $79.11, demonstrating a +0.98% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 0.04%. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.03%.
Coming into today, shares of the cloud-based commerce company had gained 6.83% in the past month. In that same time, the Computer and Technology sector gained 4.9%, while the S&P 500 gained 5.28%.
Analysts and investors alike will be keeping a close eye on the performance of Shopify in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.31, showcasing a 342.86% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $2.07 billion, indicating a 19.13% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.70 per share and a revenue of $6.98 billion, indicating changes of +1650% and +24.7%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Shopify. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Shopify is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Shopify is presently being traded at a Forward P/E ratio of 112.03. This represents a premium compared to its industry's average Forward P/E of 27.93.
The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SHOP in the coming trading sessions, be sure to utilize Zacks.com.