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Stock Charts AI Power Rank: 4.2
Power Rank trend -> Falling
09/06/2024 16:25:00 EST
Shopify Inc (SHOP)
Industry: Software - Application
Follow @stockchartsai on TwitterPrice Support Resistance
In the past 20 trading days, SHOP has been trading in a range between $76.14 and $68.31 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.
The AI powered stock chart is in a Red zone currently. We would avoid this stock.
Upside / Downside Potential
Shopify Inc $SHOP entered a Red zone 9 days ago on the AI powered stock chart. Wall Street analysts have an AVG target price $66.14, a potential down side of -1.3% from the recent price of 67.01. The stock is trading 36.65% (potential upside) below its 52 week high of $91.57 and 47.27 % (potential downside) above its 52 week low of $45.50 - based on the recent price.
Company Summary
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
News
| Shopify: Bullish Despite Macro Headwinds - Reiterate Buy SHOP's uptrend continues to imply robust bullish support despite the uncertain macroeconomic outlook and the supposedly tightened discretionary spending. Its high growth investment thesis is also validated by the robust FQ2'24 performance metrics, market leading headless commerce share, and the accelerating international penetration. As a result, we believe that SHOP remains a compelling growth story attributed to its double digit growth prospects, despite the relatively premium PEG ratio. Source: Seeking Alpha Sat, 07 Sep 2024 10:00:00 -0400 Sentiment: Positive |
| Automatic Securities Disposition Plan Adopted by Shopify Chief Executive Officer Internet, Everywhere--(Newsfile Corp. - September 6, 2024) - Shopify Inc. (NYSE, TSX: SHOP), announced today that Tobias Lütke, Shopify's Chief Executive Officer, has adopted an automatic securities disposition plan ("ASDP"), in accordance with securities laws and Shopify's internal policies, with sales of Class A Subordinate Voting Shares ("Class A Shares") under the plan eligible to commence on or after September 17, 2024. The Ontario Securities Commission issued a decision exempting Mr. Source: Newsfile Corp Fri, 06 Sep 2024 17:00:00 -0400 Sentiment: Neutral |
| Why Is Shopify (SHOP) Up 2.3% Since Last Earnings Report? Shopify (SHOP) reported earnings 30 days ago. What's next for the stock? Source: Zacks Investment Research Fri, 06 Sep 2024 12:37:46 -0400 Sentiment: Positive |
| Investors Heavily Search Shopify Inc. (SHOP): Here is What You Need to Know Shopify (SHOP) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock. Source: Zacks Investment Research Fri, 06 Sep 2024 10:06:28 -0400 Sentiment: Positive |
| Prediction: These 2 Cathie Wood Stocks Could Crush the Market Through 2030 Regeneron is an innovative drugmaker that continues to perform well. Shopify's changed and improved business should lead to stronger returns. Source: The Motley Fool Thu, 05 Sep 2024 09:10:00 -0400 Sentiment: Positive |
Technicals 52 Week Hi: 91.57 52 Week Low: 45.5 Beta: 2.36 50 Day MA: 66.8122 200 Day MA: 71.4386 Earnings / Revenue Trends Qtr Earnings Growth YOY: 4.858 Qtr Revenue Growth YOY: 0.207 Forward PE: 51.0204 Trailing PE: 67.6869