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Shopify (SHOP) Stock Moves -0.26%: What You Should Know
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Shopify (SHOP - Free Report) closed at $61.67 in the latest trading session, marking a -0.26% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Prior to today's trading, shares of the cloud-based commerce company had gained 4.3% over the past month. This has outpaced the Computer and Technology sector's gain of 1.61% and the S&P 500's gain of 3.1% in that time.
Shopify will be looking to display strength as it nears its next earnings release. In that report, analysts expect Shopify to post earnings of $0.06 per share. This would mark year-over-year growth of 300%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.62 billion, up 25.11% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.32 per share and revenue of $6.74 billion. These totals would mark changes of +700% and +20.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Shopify. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 13.55% higher within the past month. Shopify is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Shopify currently has a Forward P/E ratio of 194.9. This valuation marks a premium compared to its industry's average Forward P/E of 31.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
To follow SHOP in the coming trading sessions, be sure to utilize Zacks.com.
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Shopify (SHOP) Stock Moves -0.26%: What You Should Know
Shopify (SHOP - Free Report) closed at $61.67 in the latest trading session, marking a -0.26% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq added 1.24%.
Prior to today's trading, shares of the cloud-based commerce company had gained 4.3% over the past month. This has outpaced the Computer and Technology sector's gain of 1.61% and the S&P 500's gain of 3.1% in that time.
Shopify will be looking to display strength as it nears its next earnings release. In that report, analysts expect Shopify to post earnings of $0.06 per share. This would mark year-over-year growth of 300%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.62 billion, up 25.11% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.32 per share and revenue of $6.74 billion. These totals would mark changes of +700% and +20.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Shopify. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 13.55% higher within the past month. Shopify is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Shopify currently has a Forward P/E ratio of 194.9. This valuation marks a premium compared to its industry's average Forward P/E of 31.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% 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.
To follow SHOP in the coming trading sessions, be sure to utilize Zacks.com.