On May 29, Shopify rose 3.34% in regular trading, trading at $118.65/share, with trading volume of $470 million. The stock has now rallied over 10% across three consecutive trading sessions as capital flows back in following a steep post-earnings correction.
On the news front, Shopify reported strong Q1 results on May 5, with revenue surging 34% year-over-year to $3.17 billion, surpassing the consensus estimate of $3.09 billion. GMV exceeded $100 billion for the quarter, and adjusted EPS of $0.36 beat expectations by 12.5%. Free cash flow margin reached 15%. However, the company guided Q2 revenue growth at approximately 30%, a notable deceleration from Q1, triggering a 7%+ post-earnings selloff. Barclays subsequently cut its target price from $130 to $126, while Citi lowered its target from $163 to $156, though both maintained constructive ratings. With the stock having declined roughly 20% year-to-date prior to the rebound, valuation pressure has eased, prompting market participants to reprice the company's fundamental resilience and driving sustained recovery momentum.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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