Do Analysts Agree Wednesday on Shopify Inc (SHOP) Stock's Target Price?

popzy
2022-09-05

Why are Analyst Ratings Important?

Analysts know the inner workings of the companies they follow better than anyone but the companies’ management. You can learn a lot about a company from studying the financial statements, but analysts ask questions on conference calls and understand the intricacies of each of the businesses they cover. Analysts understand how bad weather in one part of the world can disrupt supply chains, or disrupt shopping patterns. This lets traders make decisionsbeforea quarterly report that could be worse than expected.InvestorsObserveraggregates the ratings of all the analysts covering a given stock, takes the average of those ratings and then percentile ranks the averages. That provides a level of granularity that is significantly better than just the three levels provided by traditional buy/hold/sell ratings.

What's Happening With Shopify Inc Stock Today?

Shopify Inc (SHOP) stock is trading at $32.72 as of 10:00 AM on Wednesday, Aug 31, a gain of $1.35, or 4.32% from the previous closing price of $31.36. The stock has traded between $31.68 and $33.35 so far today. Volume today is less active than usual. So far 3,350,567 shares have traded compared to average volume of 33,274,101 shares.$Shopify(SHOP)$

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