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Shopify (SHOP) is a Great Momentum Stock: Should You Buy?


Published on 2024-12-10 03:21:10 - Yahoo Finance
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  • While any stock can see a spike in price, it takes a real winner to consistently outperform the market. Over the past quarter, shares of Shopify have risen 63.38%, and are up 63.22% in the last year. In comparison, the S&P 500 has only moved 12.83% and 35.33%, respectively.

The article from Yahoo Finance discusses why Shopify (SHOP) could be considered a great momentum stock. It highlights Shopify's significant stock performance, noting a 10.5% increase over the past four weeks and a 100.8% rise over the last year, significantly outperforming the S&P 500. The piece points out that Shopify has a Momentum Style Score of A, indicating strong momentum characteristics. Factors contributing to this include positive earnings estimate revisions, with the current quarter's earnings estimate increasing from 16 cents to 21 cents per share, and the full year's estimate rising from $1.04 to $1.16 per share. Additionally, Shopify's stock has shown a favorable trend in terms of its 50-day and 200-day moving averages, suggesting continued upward momentum. The article also mentions that Shopify's growth is supported by its expanding merchant base and the addition of new features like Shopify Payments and Capital, which enhance its ecosystem and drive further growth.

Read the Full YAHOO!Finance Article at:
[ https://finance.yahoo.com/news/shopify-shop-great-momentum-stock-170011076.html ]