Yahoo Finance Shopify (SHOP) Boasts Earnings & Price Momentum: Should You Buy?
If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
Why You Should Pay Attention to Shopify (SHOP)
Ottawa, Canada-based Shopify Inc. provides a multi-tenant, cloud-based, multi-channel commerce platform that helps in starting, scaling, marketing, and running a business. Its platform and services are engineered for simplicity and reliability, while delivering a better shopping experience for customers everywhere.
SHOP was added to the Zacks Focus List on September 6, 2022 at $29.94 per share. Since then, shares have increased 113.36% to $63.88.
Nine analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.12 to $0.99. SHOP also boasts an average earnings surprise of 57%.
Additionally, Shopify's earnings are expected to grow 33.8% for the current fiscal year.
Because stock prices react to revisions, buying stocks with rising earnings estimates can be very profitable. Focus List stocks like SHOP offer investors a great opportunity to get into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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Shopify Inc. (SHOP) : Free Stock Analysis Report
