InvestorsObserver is giving Shopify Inc (SHOP) an Analyst Rating Rank of 35, meaning SHOP is ranked higher by analysts than 35% of stocks. The average projection by analysts for SHOP is $537.738 over the next 12 months and analyst’s classify the stock as a Buy
Why are Analyst Ratings Important?
Though analyst projections should not be your only resource when determining your position on a stock, it can be a very useful tool. Analysts follow sectors/industries in-depth and tend to know how local and global conditions tend to affect demand and prices. Many analysts even participate in conference calls where they can get information to better make sense of the numbers.
InvestorsObserver averages the ratings provided by analysts and then ranks their score as a percent against the market. This allows you to compare stocks in a more comprehensive fashion than with the typical buy/sell/hold ranking.
What's Happening With Shopify Inc Stock Today?
Shopify Inc (SHOP) stock is trading at $426.00 as of 3:26 PM on Friday, Mar 27, a loss of -$21.78, or -4.86% from the previous closing price of $447.78. The stock has traded between $412.02 and $433.36 so far today. Volume today is less active than usual. So far 2,139,538 shares have traded compared to average volume of 3,199,309 shares.
