In the latest trading session, Shopify (SHOP) closed at $1,099.03, marking a +0.22% move from the previous day. This move lagged the S&P 500's daily gain of 1.09%.Heading into today, shares of the cloud-based commerce company had gained 3.29% over the past month, lagging the Computer and Technology sector's gain of 6.99% and the S&P 500's gain of 5.05% in that time.SHOP will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2021. The company is expected to report EPS of $0.77, up 305.26% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $853.04 million, up 81.5% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.84 per share and revenue of $4.03 billion. These totals would mark changes of -3.52% and +37.68%, respectively, from last year.Investors might also notice recent changes to analyst estimates for SHOP. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.98% higher. SHOP is currently sporting a Zacks Rank of #3 (Hold).Investors should also note SHOP's current valuation metrics, including its Forward P/E ratio of 285.61. This represents a premium compared to its industry's average Forward P/E of 29.17.We can also see that SHOP currently has a PEG ratio of 11.42. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Internet - Services stocks are, on average, holding a PEG ratio of 1.84 based on yesterday's closing prices.The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 27% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Shopify Inc. (SHOP): Free Stock Analysis Report To read this article on Zacks.com click here.