🚨 $SHOP$ : The Next Retail Stock to Take Flight!
$Shopify Inc (SHOP.CA)$ This week, I'm particularly keeping my eyes on Shopify's earnings report, which is set to drop on Tuesday. Shopify, being a leading player in the e-commerce software space, is expected to deliver another solid quarter with strong top-line growth and a positive outlook, fueled by robust growth across its key metrics.
The options market is indicating that there could be a significant swing in SHOP stock after the report comes out, with a potential move of around 14% in either direction. I remember after its last earnings report in August, the shares gapped up by 26%, so I'm pretty excited to see what happens this time around.![]()
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Shopify's Strong Outlook
In recent weeks, analysts have raised profit forecasts for Shopify 33 times, reflecting their confidence in the company's continued expansion.
Wall Street anticipates an adjusted EPS of 0.27,markinga142.1 billion. This growth is fueled by positive merchant expansion and consistent demand for Shopify's suite of software and payment tools.
Shopify enjoys a proven seasonal advantage, with its stock tending to gain momentum ahead of Black Friday and Cyber Monday (BFCM). Historically, shares have risen about 7% in the two weeks prior to BFCM from 2016 to 2023, showcasing resilience as demand spikes before the holiday shopping season.
SHOP stock ended at $121.25 on Friday, its highest closing price since February 12. Shares have gained 17.54% year-to-date. At current levels, the Ottawa, Canada-based e-commerce specialist has a market cap of $112.5 billion. 🇨🇦
Shopify has entered the top 5. Within next 2-3 years, (maybe sooner), I predict will be top 2! 😄 Shopify stands out as a buy, particularly with the holiday season around the corner.
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Mrstocksplitsundae : lol. it already did... it's a trap now.