Shopify saw its IBD SmartSelect Composite Rating rise to 96 Wednesday, up from 93 the day before. And while the Relative Strength number is also high, the RS line has only flattened out after a long downtrend.
The new score indicates the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria.
Shopify stock has now climbed above a proper buy zone after clearing the 49.86 buy point, but that is from and failed cup with handle pattern. See if it can create a newer entry point as it currently flirts with the 200-day moving average.
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The stock earns a 90 EPS Rating, meaning its recent quarterly and annual earnings growth tops 90% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
The company reported 0% earnings-per-share growth for Q2. Revenue growth increased 31%, up from 25% in the prior quarter. That marks one quarter of rising revenue gains. The company's next quarterly report is expected on or around Oct. 26.
Shopify Cl A earns the No. 9 rank among its peers in the Computer Software-Enterprise industry group. ServiceNow, UiPath and Palantir Technologies are among the top 5 highly-rated stocks within the group.
