Shopify Stock Sees Its Composite Rating Continued Rise To 97

Shopify (SHOP) saw its IBD SmartSelect Composite Rating rise to 97 Tuesday, up from 94 the day before.


The new score tells you the company is now outperforming 97% of all stocks in terms of the most important fundamental and technical stock-picking criteria.

Shopify is currently forming a consolidation, with a 1,650.10 entry. See if the stock can break out in volume at least 40% higher than normal. Keep in mind that it’s a later-stage base, and such bases are more prone to failure.

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Shopify stock has a 99 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 99% of all stocks.

Its Accumulation/Distribution Rating of D shows moderate selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.

Shopify stock posted a 113% earnings gain for Q2. Revenue growth fell to 57%, down from 110% in the previous quarter. The company’s next quarterly report is expected on or around Oct. 29.

Shopify stock earns the No. 8 rank among its peers in the Computer Software-Enterprise industry group. Concentrix Corp (CNXC), Techtarget (TTGT) and Digital Turbine (APPS) are among the top 5 highly-rated stocks within the group.


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