Shopify Inc (NYSE: SHOP) stock suffered a major decline of -18.6% on 5/8/24. The shares closed at $62.73. Moreover, this decline was accompanied by exceptionally high trading volume at 239% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -10.6% during the last week.
Current PriceTarget Research Rating
SHOP is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to be above the cost of capital.
Shopify has a current Value Trend Rating of C (Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Shopify has a poor Appreciation Score of 16 but a very high Power Rating of 87, with the Neutral Value Trend Rating the result.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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