Shopify stock is trading higher after a strong post-earnings surge, with analysts raising price targets following better-than-expected second-quarter results and robust revenue guidance. The shares crossed above the 200-day moving average, a signal that has occurred three other times in the past decade, leading to a one-month gain 67% of the time averaging 7.6%. Options traders remain unusually bearish, with a 50-day call/put volume ratio of 1.15 ranking in the 98th annual percentile, and an unwind of this sentiment could provide further tailwinds. Additionally, Shopify's Schaeffer's Volatility Index of 57% stands in the 31st percentile of its annual range, suggesting options are affordably priced.
Shopify IncAnalysts raise price targets after better-than-expected Q2 results and robust revenue guidance.
