Shopify Declines 1.5% Today Despite 55.6% Year-to-Date Gain
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 12h ago
0mins
Source: NASDAQ.COM
- Today's Performance: Shopify is down 1.5% today, making it the worst performer in the Nasdaq 100, despite a year-to-date gain of 55.6%, indicating the impact of market volatility on its stock price.
- Market Dynamics: Concurrently, Applovin is down 1.4%, while Micron Technology is up 1.3%, reflecting varying performances among Nasdaq 100 components, which could influence investors' asset allocation decisions.
- Investor Sentiment: Despite Shopify's strong year-to-date performance, today's decline may raise concerns among investors regarding its future performance, especially amid increasing market volatility.
- Industry Impact: Shopify's performance could affect investor sentiment towards other tech stocks, particularly in the e-commerce sector, prompting investors to monitor overall market trends and the relative performance of individual stocks.
Analyst Views on SHOP
Wall Street analysts forecast SHOP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SHOP is 179.56 USD with a low forecast of 140.00 USD and a high forecast of 200.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
26 Analyst Rating
17 Buy
9 Hold
0 Sell
Moderate Buy
Current: 167.880
Low
140.00
Averages
179.56
High
200.00
Current: 167.880
Low
140.00
Averages
179.56
High
200.00
About SHOP
Shopify Inc. (Shopify) is a Canada-based global commerce company. The Company provides essential Internet infrastructure for commerce, offering tools to start, grow, market and manage a retail business of any size. It provides platforms and services that are engineered and delivers a shopping experience for consumers online, in store and everywhere in between. Its software enables merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces. The Company's Shopify platform provides merchants with a single view of their business across all of their sales channels and enables them to manage products and inventory, process orders and payments, fulfill and ship orders, build customer relationships, source products, leverage analytics and reporting, and access financing, all from one integrated back office. The Shopify's platform operates across 175 countries.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
