Alert: Positive Investment/Fundamental Signals (11/10/23)-Shopify Inc (NYSE: SHOP)


Notable positive changes in fundamentals have recently occurred for Shopify Inc (NYSE: SHOP): the consensus estimate for December, 2024 increased significantly, the consensus estimate for December, 2023 increased significantly, and significant quarterly earnings acceleration occurred.

Shopify Inc (NYSE: SHOP) has recently enjoyed meaningful positive changes in investment behavior: the stock’s recent price rise disrupted its longer term downtrend.

In light of these very positive signals we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.


Current PriceTarget Research Rating

Reflecting future returns on capital that are forecasted to exceed the cost of capital, SHOP is expected to continue to be an important Value Builder.

Shopify has a current Value Trend Rating of C (High Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Shopify has a poor Appreciation Score of 22 but a very high Power Rating of 94, and the High Neutral Value Trend Rating results.

Recent Price Action

Shopify Inc (NYSE: SHOP) stock closed at $61.34 on 11/10/23 after an increase of 1.6%. The stock has risen 2.7% during the last week and has been exceptionally strong relative to the market over the last nine months.

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