Shopify stock: buy or sell

SHOP stock price: $1,159.77 -3.83% At close on Jan 26th, 2021

Updated on:
Jan 27th, 2021

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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

Shopify analysts' ratings - Last 30 days
Brokerage firmRating
Jan 11th, 2021
KeyCorp Buy
Jan 14th, 2021
Oppenheimer
Jan 15th, 2021
Roth Capital Neutral

Shopify stock analysis

SMAs overview

SHOP stock SMAs chart

Supports and resistances

The current resistances are:

  • R1: $1,247.45 (7.56% above)
  • R2: $1,285.19 (10.81% above)
  • The current supports are:

  • S1: $1,146.91 (-1.11% below)
  • S2: $1,130.00 (-2.57% below)
  • S3: $1,107.92 (-4.47% below)
  • Bollinger bands

    SHOP stock Bollinger Bands chart

    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%

    SHOP stock RSI chart

    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

    SHOP stock price history chart

    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).

    Shopify stock price predictions
    Brokerage firmPrice 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

    SHOP performance compared
    Company1m3m6m
    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 only

    Shopify 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 dateFebruary 10th, 2021

    Frequently asked questions

    What is Shopify stock symbol?

    Shopify Inc. is a public company trading in the US stock market with the SHOP symbol

    Is Shopify stock a buy or sell?

    Shopify received 3 ratings in the last 30 days: 1 bullish, 0 bearish and 1 neutral.

    Will SHOP go up?

    Shopify had different price predictions published by market analysts in the last 30 days forecasting the target price to $1,262.50. That is a 8.86% than the current price ($1,159.77).