Shopify Stock Jumps After Analyst Bull Note

The stock earlier hit a 52-week high

Deputy Editor
Jun 12, 2023 at 3:21 PM
facebook X logo linkedin

Shopify Inc (NYSE:SHOP) is trending on social media site StockTwits today, after the online services stock hit a 52-week high of $65.62. Over the weekend, Jefferies raised its price target to $65 from $44, keeping its "hold" recommendation. At last glance, SHOP was up 6.2% to trade at $65.19.

There is plenty of room for further bull notes that could send SHOP even higher. Of the 39 analysts in coverage, 22 carry a "hold" or worse rating, while the 12-month consensus price target of $61.67 is a 5.4% discount to current levels. 

So far today, 147,000 calls have crossed the tape, in comparison to 47,000 puts, with new positions being opened at the most active contract, the June 65 call. Options bulls have been blasting SHOP of late, per the stock's 10-day call/put volume ratio of 5.77 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than 98% of readings from the past year. 

Options are attractively priced at the moment too, per Shopify stock's Schaeffer's Volatility Index (SVI) of 50%, which ranks in the 11th percentile of its annual range. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI