Shopify Stock Underperforms Broader Market as Estimates Decline Despite Expected Earnings Growth
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Shopify (SHOP) stock closed at $78.42, down 0.33% compared to the previous day's close. This underperformed the broader market.
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SHOP stock has declined 2.47% over the past month, lagging the S&P 500's 4.42% gain over the same period.
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SHOP is expected to report strong EPS and revenue growth in its upcoming quarterly earnings results. Full-year growth estimates are also positive.
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Recent downward revisions to SHOP's consensus EPS estimate signals declining near-term business trends. This could pressure the stock price.
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At current levels, SHOP trades at a premium forward P/E of 83.31 versus the industry average of 25.36.