Shopify Inc (NYSE:SHOP) (TSE:SHOP) has been given a consensus rating of “Buy” by the twenty-four research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $299.82.
Several analysts recently commented on the company. Jefferies Financial Group boosted their price target on Shopify from $205.00 to $250.00 and gave the stock a “hold” rating in a research report on Wednesday. Wedbush cut Shopify from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $270.00 to $305.00 in a research report on Tuesday. They noted that the move was a valuation call. Roth Capital cut Shopify from a “buy” rating to a “neutral” rating and upped their target price for the company from $275.00 to $300.00 in a report on Monday, June 24th. DA Davidson upped their target price on Shopify from $290.00 to $400.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Royal Bank of Canada upped their target price on Shopify from $265.00 to $347.00 and gave the company an “outperform” rating in a report on Friday, June 21st.
Several institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC lifted its stake in shares of Shopify by 5.7% in the 4th quarter. WCM Investment Management LLC now owns 6,599,190 shares of the software maker’s stock valued at $913,657,000 after purchasing an additional 357,313 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Shopify by 56.3% in the 1st quarter. Baillie Gifford & Co. now owns 5,920,039 shares of the software maker’s stock valued at $1,223,199,000 after purchasing an additional 2,132,030 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Shopify by 7.0% in the 1st quarter. Jennison Associates LLC now owns 1,403,846 shares of the software maker’s stock valued at $290,063,000 after purchasing an additional 91,669 shares during the last quarter. CIBC World Markets Inc. lifted its stake in shares of Shopify by 378.5% in the 1st quarter. CIBC World Markets Inc. now owns 865,184 shares of the software maker’s stock valued at $178,764,000 after purchasing an additional 684,365 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Shopify in the 4th quarter valued at $101,062,000. 66.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of SHOP traded down $0.81 during trading hours on Monday, hitting $300.15. 1,500,052 shares of the stock were exchanged, compared to its average volume of 1,944,671. The company has a debt-to-equity ratio of 0.05, a quick ratio of 12.57 and a current ratio of 12.56. Shopify has a 12-month low of $117.64 and a 12-month high of $338.94. The firm has a market capitalization of $33.55 billion, a P/E ratio of -492.05 and a beta of 1.35. The stock has a 50-day moving average price of $288.08.
Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.44. Shopify had a negative return on equity of 3.74% and a negative net margin of 6.17%. The firm had revenue of $320.50 million during the quarter, compared to analysts’ expectations of $310.11 million. During the same period in the previous year, the business earned $0.04 earnings per share. The firm’s revenue for the quarter was up 49.6% on a year-over-year basis. On average, equities analysts forecast that Shopify will post -0.79 earnings per share for the current year.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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