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Shopify (SHOP) Rises Higher Than Market: Key Facts
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Shopify (SHOP - Free Report) ended the recent trading session at $71.33, demonstrating a +1.11% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 1.02%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 2.03%.
The cloud-based commerce company's shares have seen a decrease of 8.58% over the last month, not keeping up with the Computer and Technology sector's loss of 5.32% and the S&P 500's loss of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of Shopify in its upcoming earnings disclosure. The company's earnings report is set to go public on May 8, 2024. The company is expected to report EPS of $0.16, up 1500% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.84 billion, indicating a 21.76% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.96 per share and a revenue of $8.51 billion, representing changes of +29.73% and +20.58%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Shopify. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.67% higher. Shopify is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Shopify is presently trading at a Forward P/E ratio of 73.85. This signifies a premium in comparison to the average Forward P/E of 24.36 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Shopify (SHOP) Rises Higher Than Market: Key Facts
Shopify (SHOP - Free Report) ended the recent trading session at $71.33, demonstrating a +1.11% swing from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 1.02%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 2.03%.
The cloud-based commerce company's shares have seen a decrease of 8.58% over the last month, not keeping up with the Computer and Technology sector's loss of 5.32% and the S&P 500's loss of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of Shopify in its upcoming earnings disclosure. The company's earnings report is set to go public on May 8, 2024. The company is expected to report EPS of $0.16, up 1500% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.84 billion, indicating a 21.76% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.96 per share and a revenue of $8.51 billion, representing changes of +29.73% and +20.58%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Shopify. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.67% higher. Shopify is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Shopify is presently trading at a Forward P/E ratio of 73.85. This signifies a premium in comparison to the average Forward P/E of 24.36 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 40, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.