What's Going On With Shopify Shares Today?
Portfolio Pulse from Vaishali Prayag
Shopify Inc. (NYSE:SHOP) shares are trading lower amid a broader tech selloff, despite recent analyst upgrades. Analysts are estimating EPS of 21 cents and revenue of $2.0 billion for the upcoming second-quarter results. Several analysts have upgraded their ratings and price targets for Shopify.
July 17, 2024 | 8:13 pm
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NEGATIVE IMPACT
Shopify shares are down 7.04% amid a broader tech selloff, despite several recent analyst upgrades and positive price target adjustments. Analysts are estimating EPS of 21 cents and revenue of $2.0 billion for the upcoming second-quarter results.
The broader tech selloff is negatively impacting Shopify's stock price despite positive analyst ratings and price target increases. The upcoming earnings report could provide a catalyst for recovery, but the immediate impact is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100