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Do Analysts Agree Wednesday on Shopify Inc (SHOP) Stock's Target Price?

Wednesday, February 28, 2024 01:22 PM | InvestorsObserver Analysts

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Do Analysts Agree Wednesday on Shopify Inc (SHOP) Stock's Target Price?

Analysts who follow Shopify Inc (SHOP) on average expect it to rise 7.05% over the next twelve months. Those same analysts give the stock an average rating of Buy. That average rating earns the stock an Analyst Ranking of 24, which means it ranks higher than 24 of stocks, based on data compiled by InvestorsObserver.

Overall Score - 3.6
Wall Street analysts are rating SHOP a Buy today. Find out what this means to you and get the rest of the rankings on SHOP!

Why are Analyst Ratings Important?

You can learn a lot about a company from looking at it’s financial statements and comparing them to other companies. Analysts who cover an industry in depth can add even more to your research though. They typically follow a particular sector or industry very closely. They also pay attention to and ask questions on earnings conference calls and other events where they might learn information that does show up in the numbers. InvestorsObserver takes the average rating from these analysts, and then percentile ranks those averages. This lets you compare stocks in a much more granular way than just seeing the typical five-tiered rating system used on most of Wall Street.

What's Happening With Shopify Inc Stock Today?

Shopify Inc (SHOP) stock is trading at $75.43 as of 1:12 PM on Wednesday, Feb 28, a loss of -$1.20, or -1.57% from the previous closing price of $76.63. The stock has traded between $74.73 and $76.19 so far today. Volume today is low. So far 3,102,558 shares have traded compared to average volume of 11,959,169 shares. Click Here to get the full Stock Report for Shopify Inc stock.

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