Shop is a good buy before today report?

**Shopify (SHOP) seems to be a good buy before today's report**, and here's why:

1. **Consistent Earnings Growth and Surprises**:
- **Earnings History**: Shopify has a history of beating earnings estimates, with an average surprise of 27.50% over the last two quarters. This indicates a strong track record of exceeding expectations.
- **Expected Surprise**: The company's Earnings ESP (Expected Surprise Prediction) is positive, which is a good sign of an earnings beat. This, combined with the Zacks Rank, suggests a high likelihood of delivering a positive surprise.
2. **Revenue Growth Anticipation**:
- **Revenue Expectations**: Analysts expect Shopify's revenue to grow by 23.4% year-over-year to $2.11 billion in the third quarter. This growth is supported by the company's momentum and the expansion of its subscription business.
- **Historical Performance**: Shopify has beaten revenue estimates every single time over the past two years by an average of 3.1%. This consistent performance adds to the confidence in their ability to meet and exceed expectations.
3. **Technical Indicators and Analyst Ratings**:
- **Technical Indicators**: Shopify's stock is currently trading above its key moving averages, indicating a strong bullish trend. This is supported by a positive MACD and a high RSI, although the latter suggests it might be nearing overbought territory.
- **Analyst Ratings**: The consensus analyst rating is a "Buy" with a price target of $78.93, and average price targets from Scotiabank, RBC Capital, and Loop Capital imply a slight upside.
4. **Strategic Positioning and Market Trends**: Shopify's focus on larger companies and its lower-priced e-commerce services position it well for market share gains. The overall e-commerce market is expected to grow significantly, which could benefit Shopify.

In conclusion, Shopify's strong earnings history, positive analyst sentiment, and strategic positioning make it a compelling buy before today's report. However, investors should consider the stock's valuation and the potential risks before making any investment decisions.