Shopify Inc (NYSE:SHOP) to sell or not to sell?

Shopify Inc. (NYSE:SHOP) has been on an upward trend lately and while there has been all round positive notion fr the company, some analysts believe it could be time to sell the stock.

Shopify (NYSE:SHOP) formed H&S with $100.63 target or 9.00 per cent the stock’s current pricing of $111. The 6 months H&S indicates high risk for the $11.04 billion company. It was reported on Jan, 6 by If the $100.63 price target is reached, the company will be worth $993.96M less.

The stock increased 0.57{d3504fbcdeb81bdc8fcd95bbbe4a10927085f26f9c7d3b1ab66ca60ecac7168d} or $0.63 during the last trading session, reaching $110.58. About 771,047 shares traded. Shopify Inc. (NYSE:SHOP) has risen 242.20{d3504fbcdeb81bdc8fcd95bbbe4a10927085f26f9c7d3b1ab66ca60ecac7168d} since January 6, 2017 and is uptrending. It has outperformed by 225.50{d3504fbcdeb81bdc8fcd95bbbe4a10927085f26f9c7d3b1ab66ca60ecac7168d} the S&P500.

Analysts await Shopify Inc. (NYSE:SHOP) to report earnings on February, 21. They expect $-0.12 earnings per share, down 20.00 per cent or $0.02 from last year’s $-0.1 per share. After $-0.09 actual earnings per share reported by Shopify Inc. for the previous quarter, Wall Street now forecasts 33.33 {d3504fbcdeb81bdc8fcd95bbbe4a10927085f26f9c7d3b1ab66ca60ecac7168d} negative EPS growth.

Among 33 analysts covering Shopify (NYSE:SHOP), 16 have Buy rating, 0 Sell and 17 Hold. Therefore 48 per cent are positive. Shopify has $140.0 highest and $25 lowest target. $84.93’s average target is -23.20{d3504fbcdeb81bdc8fcd95bbbe4a10927085f26f9c7d3b1ab66ca60ecac7168d} below currents $110.58 stock price. Shopify had 72 analyst reports since July 31, 2015 according to SRatingsIntel. The rating was maintained by KeyBanc Capital Markets on Wednesday, October 11 with “Buy”. The firm earned “Overweight” rating on Tuesday, February 16 by Piper Jaffray. The company was maintained on Tuesday, August 1 by Robert W. Baird.

Monness Crespi downgraded the shares of SHOP in report on Monday, May 1 to “Neutral” rating. The stock of Shopify Inc. (NYSE:SHOP) has “Equal-Weight” rating given on Wednesday, September 28 by Morgan Stanley. The firm earned “Outperform” rating on Thursday, August 18 by Credit Suisse. The stock has “Hold” rating by Maxim Group on Wednesday, April 26. The rating was initiated by William Blair on Tuesday, July 11 with “Hold”. The rating was maintained by KeyBanc Capital Markets with “Buy” on Monday, November 27. The firm earned “Hold” rating on Tuesday, October 31 by SunTrust.

About the author

Sarah Peters

Sarah Peters

Sarah Peters covers SAAS and Analytics companies. Sarah covers breaking news stories as well as small cap companies.  She has a BS from St. Lawrence University.

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