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published in Blogs
Jun 18, 2020

Shopify (SHOP, $860.52) gets price target lift from RBC

Shopify  shares got a price target hike from analysts at RBC Capital.

On Thursday,  RBC Capital  analysts boosted their price target on the e-commerce company to $1,000 per share from $825 per share. They reaffirmed their outperform rating.  

According to the analysts, the market "still underappreciates" some aspects about Shopify. RBC expects Shopify’s annual revenue to climb to $25 billion by 2028, from an estimated $2.3 billion in 2020.

The analysts mentioned that Shopify has garnered more than 1 million merchants on its platform, which is more than triple from 325,000 merchants in 2016.

RBC also projects that Shopify's take rate, or the percentage of transactions on its platform that the company keeps, will expand by 30 to 40 basis points in the near term on growth in payment adoption. For the  long-term, the analysts  anticipate expansion in its take rate of between 100 and 110 basis points fueled by increased usage of value-added services (VAS) like Shopify Capital, shipping and the Shopify Fulfillment Network. 

SHOP's in Uptrend: Moving Average Convergence Divergence (MACD) Histogram just turned positive

This is a Bullish indicator signaling SHOP's price could rise. Traders may explore going long on the ticker or buying call options. In 46 of 50 cases where SHOP's MACD histogram became positive, the price rose further within the following month. The odds of a continued Uptrend are 90%.

Current price $860.52 is above $767.00 the highest resistance line found by A.I. Throughout the month of 05/15/20 - 06/17/20, the price experienced a +7% Uptrend. During the week of 06/10/20 - 06/17/20, the stock enjoyed a +10% Uptrend growth.

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator exceeded the 0 level on June 15, 2020. Traders may consider buying the ticker or exploring call options. In 58 of 65 cases where the ticker's Momentum Indicator exceeded 0, its price rose further within the subsequent month. The odds of a continued Uptrend are 89%.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SHOP advanced for three days, in 322 of 372 cases, the price rose further within the following month. The odds of a continued Uptrend are 87%.

The Aroon Indicator entered an Uptrend today. In 360 of 416 similar cases where SHOP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 87%.

Bearish Trend Analysis

The RSI Indicator appears to be shifting from an Uptrend to a Downtrend. In 44 of 64 cases where SHOP's RSI indicator exited the overbought zone, the price fell further within the following month. The odds of a continued Downtrend are 69%.

The Stochastic Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.

The higher Bollinger Band was broken -- a price fall is expected as the ticker heads toward the middle band, which invites the trader to consider selling or shorting the ticker, or exploring put options. In 41 of 64 cases where SHOP's price broke its higher Bollinger Band, its price dropped further during the following month. The odds of a continued Downtrend are 64%.

Fundamental Analysis (Ratings)

Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 88%. During the last month, the daily ratio of advancing to declining volumes was 1.55 to 1.

The Tickeron Profit vs. Risk Rating rating for this company is 2 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 66, placing this stock better than average.

The Tickeron Price Growth Rating for this company is 35 (best 1 - 100 worst), indicating steady price growth. SHOP’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron SMR rating for this company is 79 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Valuation Rating of 97 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: SHOP's P/B Ratio (31.51) is slightly higher than the industry average of (4.28). P/E Ratio (0.00) is within average values for comparable stocks, (38.47). Projected Growth (PEG Ratio) (0.00) is also within normal values, averaging (1.84). Dividend Yield (0.00) settles around the average of (0.10) among similar stocks. SHOP's P/S Ratio (28.19) is very high in comparison to the industry average of (2.63).

The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

 

Related Ticker: SHOP

SHOP in -7.01% downward trend, falling for three consecutive days on February 21, 2024

Moving lower for three straight days is viewed as a bearish sign. Keep an eye on this stock for future declines. Considering data from situations where SHOP declined for three days, in of 282 cases, the price declined further within the following month. The odds of a continued downward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for SHOP moved out of overbought territory on February 12, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 48 similar instances where the indicator moved out of overbought territory. In of the 48 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on February 16, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on SHOP as a result. In of 85 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for SHOP turned negative on February 13, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at .

SHOP moved below its 50-day moving average on February 20, 2024 date and that indicates a change from an upward trend to a downward trend.

SHOP broke above its upper Bollinger Band on February 07, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SHOP advanced for three days, in of 337 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 319 cases where SHOP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. SHOP’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock slightly better than average.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (10.730) is normal, around the industry mean (25.544). SHOP has a moderately high P/E Ratio (755.900) as compared to the industry average of (138.303). Projected Growth (PEG Ratio) (1.089) is also within normal values, averaging (2.817). Dividend Yield (0.000) settles around the average of (0.087) among similar stocks. P/S Ratio (13.870) is also within normal values, averaging (74.892).

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

Notable companies

The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), SERVICENOW (NYSE:NOW), Shopify (NYSE:SHOP), Palo Alto Networks (NASDAQ:PANW), Workday (NASDAQ:WDAY).

Industry description

Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.

Market Cap

The average market capitalization across the Packaged Software Industry is 9.97B. The market cap for tickers in the group ranges from 291 to 2.99T. MSFT holds the highest valuation in this group at 2.99T. The lowest valued company is BLGI at 291.

High and low price notable news

The average weekly price growth across all stocks in the Packaged Software Industry was -2%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was 1%. GGAMF experienced the highest price growth at 273%, while ATCH experienced the biggest fall at -77%.

Volume

The average weekly volume growth across all stocks in the Packaged Software Industry was -29%. For the same stocks of the Industry, the average monthly volume growth was -45% and the average quarterly volume growth was 37%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 52
P/E Growth Rating: 74
Price Growth Rating: 53
SMR Rating: 83
Profit Risk Rating: 88
Seasonality Score: -37 (-100 ... +100)
Related Portfolios: E-COMMERCE SECTOR
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SHOPDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

an operator of eCommerce website that allows customers to sell online by providing software to create an online store

Industry PackagedSoftware

Profile
Fundamentals
Details
Industry
Information Technology Services
Address
151 O'Connor Street
Phone
+1 613 241-2828
Employees
8300
Web
https://www.shopify.com
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SHOP and

Correlation & Price change

A.I.dvisor indicates that over the last year, SHOP has been closely correlated with COIN. These tickers have moved in lockstep 67% of the time. This A.I.-generated data suggests there is a high statistical probability that if SHOP jumps, then COIN could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To SHOP
1D Price
Change %
SHOP100%
-3.85%
COIN - SHOP
67%
Closely correlated
-6.30%
CLSK - SHOP
64%
Loosely correlated
-6.64%
RIOT - SHOP
62%
Loosely correlated
-5.86%
IDCC - SHOP
57%
Loosely correlated
-1.73%
FROG - SHOP
53%
Loosely correlated
-4.71%
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