Shopify, Inc. SHOP stock is moving higher on Tuesday. The company is anticipated to release 2024 fiscal-year second quarter earnings on Wednesday before the market opens.
The Details: Analysts estimate an EPS of 20 cents and revenue of $2.01 billion.
What Else: At the end of last week, Shopify stock traded lower in sympathy with Amazon after the company reported mixed second quarter earnings and issued soft guidance for the third quarter. The stock traded at about $55 on Friday.
On Monday, Shopify, along with stocks in the broader technology sector experienced a decline amid concerns about the United States economy. The stock traded at approximately $53 on Monday and it remains around that price.
The stock’s 50 day moving average is $62.67 and its 52 week range is from $45.5 to $91.57. Its average session volume is 11.06 million which it’s currently trading below at 3.46 million.
Analyst Changes: Benchmark analyst Mark Zgutowicz reiterated Shopify with a Hold.
See Also: Beyond The Numbers: 17 Analysts Discuss eBay Stock
SHOP Price Action: At the time of publication, Shopify stock is trading 3.82% higher at $54.26 per data from Benzinga Pro.
Image: Photo via Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
