Shopify stock: buy or sell
Updated on:
Jan 27th, 2021
1
Shopify stock brief
- Shopify stock dropped -3.83% to close at $1,159.77 on the stock market on Tuesday.
Should I buy Shopify stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $SHOP stock a buy?
In the current situation of Shopify there is not any eligible buy setup. This doesn't mean $SHOP will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Shopify stock?
When you are a novel trader and you own stock shares with some profit, it's really difficult to decide the correct moment to sell and get your profits. Like when we have to buy shares, choosing when is the best time to sell is not a whimsy decision, and we must adhere our own trading strategy. We like very simple strategies to guide us on when is a good time to sell our shares. Be aware that these strategies should not be used for selling short Shopify stock
A golden rule is that you must never mantain a trading operation that generates higher than expected losses upon purchase. The timing to sell your stock should always be determined by the stop-loss (automatic or manual)
Is it time to sell Shopify stock?
In the current situation of Shopify there is not any eligible sell setup, so Shopify stock holders with operations in green can keep their positions
Shopify ratings
In the last 30 days, 3 ratings were published for Shopify
| Brokerage firm | Rating |
|---|---|
| Jan 11th, 2021 | |
| KeyCorp | Buy |
| Jan 14th, 2021 | |
| Oppenheimer | |
| Jan 15th, 2021 | |
| Roth Capital | Neutral |
Shopify stock analysis
SMAs overview
Supports and resistances
The current resistances are:
The current supports are:
Bollinger bands
Relative strength index
The RSI dropped below the overbought level of 70 in late December after just crossing to the overbough zone for a single day (weak signal). The RSI value on Tuesday was 50.38. Since then, Shopify shares collapsed a 9.19%
Shopify stock price history
Shopify started trading priced at an adjusted price1 of $28.00 on May 2015. Since then, SHOP stock has risen by 4,042.04%, with an average of 808.41% per year. An investment of thousand dollars at that time would worth $41,420.36 nowadays.
1: Adjusted price after possible price splits or reverse-splits
Price target for Shopify stock
How much a stock will be priced tomorrow or next week is quite unpredictable. However, many stock price forecasts are published every day by banks, financial institutions and independent analysts.
Along with buy or sell recommendations, financial institutions release their price target based on the stock price action and the company fundamental data. Most of these forecasts follow the publication of new fundamental data by the company, and usually. Again, these predictions are not direct recommendations for small investors and should not be trusted blindly.
The average price target for Shopify stock calculated from the table below is $1,262.50. That is a 8.86% than the last price ($1,159.77).
| Brokerage firm | Price target |
|---|---|
| Jan 11th, 2021 | |
| KeyCorp | $1,250.00 → $1,300.00 |
| Jan 14th, 2021 | |
| Oppenheimer | Not available |
| Jan 15th, 2021 | |
| Roth Capital | $1,000.00 → $1,225.00 |
Earnings and financials
Shopify ($SHOP) had the shareholders call and released the report last October. Shopify topped market estimates and posted of $1.13, that is a 113.21% better than expected compared to the initial forecasts of $0.53. Likewise, reported sales were $767.4 million compared to estimates of $327.5 million.
Same quarter last year, reported EPS was $-0.29, so recently posted EPS means a gain of 489.66%. Looking at turnover, figures exploded a 96.49% compared to $3.9B same quarter last year.Shopify ($SHOP) is hosting the earnings call next Wednesday. Market forecasts of $1.27, compared to previous quarter that made $1.13.
Shopify performance
| Company | 1m | 3m | 6m |
|---|---|---|---|
| Shopify ($SHOP) | -4.60% | 13.80% | 15.20% |
Disclaimer:
The thoughts published in this article are personal and should not be followed as recommendations for you to buy or sell shares. The author of this paper does not have any knowledge of the specific conditions of the reader, his or her own financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are expressed for informational reasons onlyShopify summary
| Tuesday, January 26th, 2021 | |
|---|---|
| Open | $1208.17 |
| Close | $1159.77 |
| Day range | $1157.44 - $1216.14 |
| Previous close | $1205.92 |
| Session gain | -3.83% |
| Average true range | $52.19 |
| 50d mov avg | $1,101.33 |
| 100d mov avg | $1,047.49 |
| 200d mov avg | $951.67 |
| Earnings date | February 10th, 2021 |