Earnings from Shopify Inc. [SHOP] are scheduled on April 28, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.
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SHOP Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn $0.73 per share on revenue of $865.48M. Taking a look at the future, the company is projected to report revenue of $949.78M at an earnings per share of $0.83 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 31.60% in revenue and 24.71% in earnings per share for the company.
SHOP Stock Earnings Forecast For The Current Year
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For the full financial year, Shopify Inc. [NYSE:SHOP] is forecasted to generate revenue of $4.12B. The figure is about $1.19 billion above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $3.9 in 2021, which is -$0.08 lower than the figure in FY20. Based on current estimates, earnings are expected to grow -2.00% this year, 25.60% next year, and 37.50% annually over the next five years. With regard to sales, forecasts suggest an incline of 40.50% in current fiscal year and 31.60% over following year.
SHOP Stock Price Performance
At the close of Tuesday’s session, Shopify Inc. [NYSE:SHOP] finished down -0.78% at $1156.89. The stock’s highest single-day price was $1,169.10, and its lowest was $1,134.429. Its price rose 3.02% in the last five days. Since the beginning of the year, Shopify Inc.’s shares are up nearly 2.20%. However, the share price is -22.86% below its one year high. The top price reached by the shares of the company was $1,499.75 on 02/10/21, while the 52-week low came on 03/26/21, when the shares were $1,005.14. In the past year, shares of the company have risen 84.05%. At 50 days, the moving average achieved is $1,188.33 while at 200 days, the moving average is $1,092.04. There were 1.28 million shares traded in the last session, up from 1.08 million in the previous session.
Shopify Inc. [NYSE:SHOP] Stock Valuation Metrics
With a prevailing 12-month PE ratio of 452.62, Shopify Inc. [SHOP] does not qualify as a good candidate for the list of underestimated low-priced stocks that should be purchased sooner rather than later. By this measure, the company’s stock is trading at a premium to the industry average of 32.59 times trailing earnings. Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 48.75 PS value ratio is reported for the last one year of reported earnings. This is above the average return 3.44 for the industry, which means SHOP offers an unattractive investment opportunity than its competitors do.
SHOP Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 1,156.89 level, and the violation of this level will cause a further drop to 1,137.85 level. At the upper end, 1,207.19 remains a key resistance. As the stock increases, it may find resistance at 1,188.14. In the 14-day chart, the Relative Strength Index standing at 49.78 suggests a technical neutral stance while the MACD standing at -32.14 indicates price will decrease in the next trading period. Stochastic %K at 32.80% suggests holding the stock while Percent R indicator at 57.21% suggests low price movement.
How much is the short interest in Shopify Inc.?
There have been a drop in short interest in the Shopify Inc. Financial stock, with short interest down by -0.26 million shares to 1.78 million shares on Mar 14, 2021. According to data provided by Yahoo Finance, the short interest on Apr 14, 2021 stood at 1.52 million shares. This 14.61% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 2.37% of the overall float in the stock, while the stock’s days to cover moved to 1.32.
How do analysts view Shopify Inc.?
In regard to the share price forecast for Shopify Inc. stock, the analysts, as surveyed by FactSet, forecast the price to reach $1400.00 in the next twelve months, representing almost an 17.36% growth from its recent price of $1156.89. Among Shopify Inc. stock projections, $1900.00 is the highest analyst target for the stock, while $697.00 is the lowest. Despite this, 38 analysts who share their consensus rating for SHOP in 2021 agree that the stock is an Overweight.