Let's dive into what investors need to know to make an informed buying decision on this e-commerce platform specialist.
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Shopify stock price over the last 12 months through Monday, April 6, 2020. SHOP data by YCharts
During its earnings call in mid-February, Shopify management projected first-quarter revenue to increase 38% year over year and 2020 full-year growth at 42% (at the midpoint of guidance) to $2.145 billion.
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Shopify (SHOP): New Buy Recommendation for This Technology Giant
Wells Fargo analyst Timothy Willi maintained a Buy rating on Shopify ( SHOP ) today. The company’s shares closed last Tuesday at $378.54.
According to TipRanks.com , Willi is a 5-star analyst with an average return of 10.2% and a 55.7% success rate. Willi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Alliance Data Systems.
Shopify Stock Gives Up Ground After Analyst Downgrade
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Management expects that the momentum that built up in 2019 will extend into January and February 2020, resulting in revenue and adjusted operating income that is within or ahead of first quarter guidance. However, the company suspended its full-year guidance, citing the uncertainty surrounding the COVID-19 crisis, which suggests potentially slowing trends.
The author holds no position in the stock(s) mentioned except through passively managed index funds.
Thousands of accounts terminated by Shopify for profiteering or making false claims amid COVID-19
WATERLOO — E-commerce provider Shopify says it terminated thousands of accounts last month for profiteering or making false claims, while many other merchants offered discounts to try and boost sales as retailers struggled to adjust to the COVID-19 pandemic.
The Ottawa-based company, which has more than a dozen global offices including Waterloo, Vancouver, Ottawa, San Francisco and Berlin, also acknowledged social distancing measures and the shutdown of non-essential businesses means many of its approximately 1.5 million merchants are "pivoting online as consumer demand shifts."
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Shopify's Plummet - Investors' Opportunity (NYSE:SHOP) | Seeking Alpha
The withdrawal of guidance is neither surprising or alarming - this company's revenue base is derived from e-commerce sales that have likely declined along with employment and payroll income.
The shares are still not cheap using traditional valuation formulas such as EV/S and free cash flow margins.
But many investors, and in particular institutions, find owning a category leader in an attractive category a worthwhile strategy because of elements in the investment picture that are difficult to quantify.
Should Investors Exit Shopify Stock amid COVID-19 Chaos? - Market Realist
Shopify ( NYSE:SHOP ) stock fell in today's pre-market trading session. The stock fell over 3% in today's trading session at 10:46 AM ET. The Dow Jones Industrial Average rose by over 400 points or 1.9%. Also, the S&P 500 and the Nasdaq Composite gained about 1.6% and 0.8%, respectively. The broader markets gained as the COVID-19 cases slow in the US and Europe.
On Monday, Shopify stock rose 9.8% and closed at $392.65 with a market cap of $45.8 billion. The stock price has fallen 8.8% in the trailing five-day period, while it has risen 99.7% in the trailing 12-month period. The stock is trading 33.9% below its 52-week high of $593.89 on February 12, 2020. The stock was also trading 99.0% above its 52-week low of $197.34 on April 9, 2019. On a YTD (year-to-date) basis, the stock has fallen by 1.2% as of Monday.
Oppenheimer Maintains a Hold Rating on Shopify (SHOP) | Analyst Ratings
Shopify has an analyst consensus of Moderate Buy, with a price target consensus of $480.49, representing a 25.5% upside. In a report issued on March 31, Piper Sandler also maintained a Hold rating on the stock with a $332.00 price target.
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The company has a one-year high of $593.90 and a one-year low of $197.35. Currently, Shopify has an average volume of 2.71M.
Merchant Success Lead at Shopify | BoF Careers
Shopify Plus makes enterprise commerce simple. We give high-growth, high-volume merchants the scalability, reliability and flexibility they need. Shopify Plus helps power commerce for companies like Koala, JB Hi-Fi, Unilever, L'Occitane, Patagonia, Bailey Nelson, AllBirds, Kanye West and many more. We believe large merchants should love their commerce platform and we work hard to make that happen. We are growing and the landscape is changing every day; this is where you come in.
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