Shopify (NYSE:SHOP) Receives New Coverage from Analysts at Loop Capital

Loop Capital began coverage on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a report issued on Wednesday, BenzingaRatingsTable reports. The brokerage issued a hold rating and a $420.00 price target on the software maker’s stock.

Several other research firms also recently commented on SHOP. Guggenheim reissued a hold rating on shares of Shopify in a research report on Tuesday, December 3rd. Credit Suisse Group raised their price target on shares of Shopify from $370.00 to $450.00 and gave the company an outperform rating in a research note on Monday. National Bank Financial raised their price target on shares of Shopify from $400.00 to $450.00 and gave the company an outperform rating in a research note on Friday, January 3rd. ValuEngine downgraded shares of Shopify from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, Mizuho began coverage on shares of Shopify in a research note on Thursday, January 9th. They set a neutral rating and a $410.00 price target for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. Shopify presently has a consensus rating of Hold and an average price target of $346.18.

Shares of NYSE:SHOP traded up $1.07 during midday trading on Wednesday, hitting $449.58. 991,022 shares of the stock were exchanged, compared to its average volume of 1,560,682. The company has a debt-to-equity ratio of 0.04, a quick ratio of 11.21 and a current ratio of 11.21. Shopify has a 52-week low of $153.30 and a 52-week high of $453.00. The business’s fifty day simple moving average is $390.24 and its two-hundred day simple moving average is $346.33. The company has a market capitalization of $50.89 billion, a PE ratio of -737.02 and a beta of 1.21.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.08. Shopify had a negative return on equity of 3.36% and a negative net margin of 8.97%. The business had revenue of $390.55 million during the quarter, compared to analyst estimates of $384.05 million. As a group, equities analysts anticipate that Shopify will post -1.25 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Shopify by 25.5% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 472,684 shares of the software maker’s stock worth $147,317,000 after acquiring an additional 95,997 shares in the last quarter. Toronto Dominion Bank grew its position in Shopify by 68.2% during the second quarter. Toronto Dominion Bank now owns 289,392 shares of the software maker’s stock valued at $86,938,000 after acquiring an additional 117,292 shares during the period. State of Tennessee Treasury Department boosted its position in shares of Shopify by 39.5% in the third quarter. State of Tennessee Treasury Department now owns 204,150 shares of the software maker’s stock worth $71,293,000 after buying an additional 57,838 shares during the period. Strategy Capital LLC boosted its holdings in Shopify by 3.5% in the second quarter. Strategy Capital LLC now owns 184,145 shares of the software maker’s stock valued at $55,271,000 after purchasing an additional 6,229 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in Shopify by 2.1% in the third quarter. Stephens Investment Management Group LLC now owns 173,505 shares of the software maker’s stock valued at $54,075,000 after purchasing an additional 3,522 shares during the last quarter. Institutional investors own 57.33% of the company’s stock.

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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Analyst Recommendations for Shopify (NYSE:SHOP)

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