We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shopify (SHOP) Surges 6.0%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Shopify (SHOP - Free Report) shares rallied 6% in the last trading session to close at $114.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.7% gain over the past four weeks.
Shopify is benefiting from its early and deep adoption of AI across its platform, a vast commerce data advantage, expanding merchant and buyer networks, and its ability to simplify complex commerce operations for entrepreneurs and large brands alike.
This cloud-based commerce company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of +11.4%. Revenues are expected to be $3.43 billion, up 28% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Shopify, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SHOP going forward to see if this recent jump can turn into more strength down the road.
Shopify belongs to the Zacks Internet - Services industry. Another stock from the same industry, Zillow (Z - Free Report) , closed the last trading session 0.1% higher at $30.54. Over the past month, Z has returned -14.7%.
Zillow's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.44. Compared to the company's year-ago EPS, this represents a change of +10%. Zillow currently boasts a Zacks Rank of #3 (Hold).
View the Zacks #1 Rank List
Image: Bigstock
Shopify (SHOP) Surges 6.0%: Is This an Indication of Further Gains?
Shopify (SHOP - Free Report) shares rallied 6% in the last trading session to close at $114.17. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.7% gain over the past four weeks.
Shopify is benefiting from its early and deep adoption of AI across its platform, a vast commerce data advantage, expanding merchant and buyer networks, and its ability to simplify complex commerce operations for entrepreneurs and large brands alike.
This cloud-based commerce company is expected to post quarterly earnings of $0.39 per share in its upcoming report, which represents a year-over-year change of +11.4%. Revenues are expected to be $3.43 billion, up 28% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Shopify, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SHOP going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Shopify belongs to the Zacks Internet - Services industry. Another stock from the same industry, Zillow (Z - Free Report) , closed the last trading session 0.1% higher at $30.54. Over the past month, Z has returned -14.7%.
Zillow's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.44. Compared to the company's year-ago EPS, this represents a change of +10%. Zillow currently boasts a Zacks Rank of #3 (Hold).