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Shopify Inc. (SHOP) in Focus: Stock Moves 7% Higher

Zacks

Shopify Inc. SHOP was a big mover last session, as the company saw its shares rise nearly 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $111.92 to $127.92 in the past one-month time frame.

The company has not seen any estimate revisions over the past one month, while the Zacks Consensus Estimate for the current quarter also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Shopify currently has a Zacks Rank #3 (Hold), while its Earnings ESP is negative.

Shopify Inc. Price

Shopify Inc. Price | Shopify Inc. Quote


A better-ranked stock in the Internet – Services industry is Facebook, Inc. FB, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is SHOP going up? Or down? Predict to see what others think: Up or Down

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Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

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