Shopify Inc (NYSE: SHOP) stock enjoyed a major increase of 17.8% on 8/7/24. The shares closed at $63.89. Moreover, trading volume in this advance was exceptionally high at 287% of normal. Relative to the market the stock has been weak over the last nine months but has risen 7.9% 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 F (Lowest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Shopify has a poor Appreciation Score of 24 and a very low Power Rating of 12, and the Lowest Value Trend Rating results.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of F. This review will be completed in the next several days.
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