NYSE:SHOP

Shopify - SHOP Stock Forecast, Price & News

$44.98

-0.81 (-1.77%)

(As of 03/24/2023 12:00 AM ET)

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Today's Range: $44.24
▼
$45.58
50-Day Range: $38.06
▼
$53.63
52-Week Range: $23.63
▼
$75.88

Volume: 11.16 million shs
Average Volume: 16.84 million shs
Market Capitalization: $57.42 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $47.38

Institutional Ownership

Shopify MarketRank™ Forecast

Analyst Rating: Hold
2.32 Rating Score
Upside/Downside: 5.3% Upside
$47.38 Price Target
Short Interest: Healthy
4.06% of Float Sold Short
Dividend Strength: N/A
Sustainability: -1.05
Upright™ Environmental Score
News Sentiment: 0.38
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Growing
From ($0.44) to ($0.29) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

1.47 out of 5 stars

Computer And Technology Sector

575th out of 612 stocks

Prepackaged Software Industry

195th out of 213 stocks

2.2

Analyst's Opinion

Consensus Rating
Shopify has received a consensus rating of Hold. The company's average rating score is 2.32, and is based on 13 buy ratings, 19 hold ratings, and 2 sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $47.38, Shopify has a forecasted upside of 5.3% from its current price of $44.98.
Amount of Analyst Coverage
Shopify has been the subject of 21 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
4.06% of the float of Shopify has been sold short.
Short Interest Ratio / Days to Cover
Shopify has a short interest ratio ("days to cover") of 2.2, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Shopify has recently increased by 7.75%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
Shopify does not currently pay a dividend.
Dividend Growth
Shopify does not have a long track record of dividend growth.

1.8

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Shopify has received a -11.32% net impact score from Upright. Shopify uses resources or causes negative impacts mostly in categories "Scarce human capital", "GHG emissions", and "Waste". The negative contribution in the "GHG emissions" impact category seems to be driven mostly by its "E-commerce platform software", "E-commerce personalization software", and "Payment platforms" products. See details.
Environmental Sustainability
The Environmental Impact score for Shopify is -1.05.

1.3

News and Social Media Coverage

News Sentiment
Shopify has a news sentiment score of 0.38. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.56 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for Shopify this week, compared to 9 articles on an average week.
Search Interest
Only 156 people have searched for SHOP on MarketBeat in the last 30 days. This is a decrease of -57% compared to the previous 30 days.
MarketBeat Follows
Only 46 people have added Shopify to their MarketBeat watchlist in the last 30 days. This is a decrease of -38% compared to the previous 30 days.

0.8

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Shopify insiders have not sold or bought any company stock.
Percentage Held by Institutions
56.31% of the stock of Shopify is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for Shopify are expected to grow in the coming year, from ($0.44) to ($0.29) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Shopify is -16.48, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Shopify is -16.48, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Shopify has a P/B Ratio of 6.90. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Shopify (NYSE:SHOP) Stock

Shopify Inc. is a commerce platform and eCommerce infrastructure provider connecting small businesses with a large and growing global marketplace. The company was formed in 2004 in Ottawa, Canada as Jaded Pixel Technologies but changed its name to Shopify Inc in 2011. The name change was part of a rebranding strategy that helped accelerate the business and drive it to $5.5 billion in sales in 2022.

As of October 2022, the company boasted “millions” of merchants in 175 countries with more than $543 billion in economic activity generated since launch. In terms of scale, Shopify employs more than 10,000 individuals and is among the top 20 publicly traded companies in Canada.

Shopify was founded by Tobi Lütke. Mr. Lütke had been working on a website for a snowboard store but quickly realized the software was more valuable than just selling snowboards so his team switched gears. The platform was launched in 2006 and it quickly gained momentum. Mr. Lütke is a member of the board of directors and the company’s CEO, a position he has held since 2008.

Shopify is a commerce company but, more importantly, it is an eCommerce commerce company that can assist small businesses with all aspects of their operations. The company is in business to provide an eCommerce platform for small businesses globally. Its platform enables merchants to market, manage, and sell their products through a variety of sales channels that include but are not limited to eCommerce. Channels include the company’s core Shopify.com website as well as brick & mortar locations, pop-ups, social media, and buy-now buttons.

Because branding is such an important part of a business's success the company goes to great lengths to assist its merchants in that regard. The Shopify.com website includes several tools to help with branding that include a business name generator and a logo maker as well as a website builder and a full range of marketing products. Marketing products help merchants with email marketing and Facebook ads as well as automation of the same.

Among the many benefits of using Shopify is acceleration. Businesses that use the website to its fullest are able to accelerate their growth and reach milestones years ahead of their competitors. Brands that use Shopify.com include Heinz, Tupperware, and Netflix. According to data from BuiltWith, the Shopify platform was host to more than 1.58 million websites in 2021 and the figure is growing. Data from W3Techs suggest that more than 4.0% of the top 10 million websites are using Shopify.

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SHOP Stock News Headlines

March 22, 2023 | finance.yahoo.com

Is Shopify Stock a Buy Now? Shopify Stock Analysis

March 20, 2023 | americanbankingnews.com

Shopify (NYSE:SHOP) Research Coverage Started at Stifel Nicolaus

March 26, 2023 | Behind the Markets (Ad)

BREAKING: Tiny biotech successfully treats blindness

There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. This company has already shown success in human trials... And Our research shows that anyone who gets in today could see a 46,751% return.

March 18, 2023 | finance.yahoo.com

3 Incredible Growth Stocks You'll Regret Not Buying on the Dip

March 17, 2023 | finance.yahoo.com

Why Is Shopify (SHOP) Down 0.5% Since Last Earnings Report?

March 9, 2023 | finance.yahoo.com

Investors bid Shopify (NYSE:SHOP) up US$3.6b despite increasing losses YoY, taking five-year CAGR to 24%

March 8, 2023 | finance.yahoo.com

Is Shopify Stock Overvalued?

February 28, 2023 | finance.yahoo.com

Better Buy: Farfetch vs. Shopify

March 26, 2023 | Legacy Research (Affiliate) (Ad)

"Prepare for Five Years of Famine"

Market Wizard who predicted all indexes would be negative in 2022 shares shocking new forecast

February 21, 2023 | finance.yahoo.com

Shopify’s stock upgraded as analyst cheers ‘nearly boundless’ opportunity

February 21, 2023 | finance.yahoo.com

Where Will Shopify Stock Be in 1 Year?

February 20, 2023 | finance.yahoo.com

Best Stock to Buy: Amazon Stock vs. Shopify Stock vs. Mercadolibre Stock

February 18, 2023 | finance.yahoo.com

Shopify Is Becoming More Like Amazon and Less Like eBay -- and Not in a Good Way