Shopify, Inc. ( SHOP ) stock is moving higher on Tuesday. The company is anticipated to release 2024 fiscal-year second quarter earnings on Wednesday before the market opens.

The Details: Analysts estimate an EPS of 20 cents and revenue of $2.01 billion.

What Else: At the end of last week, Shopify ( SHOP ) stock traded lower in sympathy with Amazon after the company reported mixed second quarter earnings and issued soft guidance for the third quarter. The stock traded at about $55 on Friday.

On Monday, Shopify ( SHOP ), along with stocks in the broader technology sector experienced a decline amid concerns about the United States economy. The stock traded at approximately $53 on Monday and it remains around that price.

The stock’s 50 day moving average is $62.67 and its 52 week range is from $45.5 to $91.57. Its average session volume is 11.06 million which it’s currently trading below at 3.46 million.

Analyst Changes: Benchmark analyst Mark Zgutowicz reiterated Shopify ( SHOP ) with a Hold.

See Also: Beyond The Numbers: 17 Analysts Discuss eBay Stock

SHOP Price Action: At the time of publication, Shopify ( SHOP ) stock is trading 3.82% higher at $54.26 per data from Benzinga Pro.

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