StockNews.com Upgrades Shopify (NYSE:SHOP) to Hold

StockNews.com upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a sell rating to a hold rating in a research report report published on Wednesday morning.

Several other brokerages have also recently weighed in on SHOP. Royal Bank of Canada reissued an outperform rating and issued a $100.00 price target on shares of Shopify in a research note on Wednesday, February 14th. ATB Capital increased their price target on Shopify from $105.00 to $110.00 and gave the company a sector perform rating in a research note on Wednesday, February 14th. Roth Capital upped their target price on Shopify from $85.00 to $89.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Citigroup cut their target price on Shopify from $96.00 to $93.00 and set a neutral rating on the stock in a research report on Wednesday, February 14th. Finally, Truist Financial upped their target price on Shopify from $65.00 to $90.00 and gave the company a hold rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $78.30.

Shopify Price Performance

Shares of SHOP opened at $71.33 on Wednesday. Shopify has a 12-month low of $45.50 and a 12-month high of $91.57. The business has a 50-day simple moving average of $75.28 and a two-hundred day simple moving average of $72.63. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock has a market cap of $91.77 billion, a PE ratio of 792.64 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Analysts anticipate that Shopify will post 0.58 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Large investors have recently bought and sold shares of the company. Wealth Management Partners LLC grew its position in shares of Shopify by 0.9% in the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after purchasing an additional 126 shares in the last quarter. SJS Investment Consulting Inc. grew its position in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. Tradition Wealth Management LLC grew its position in shares of Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock valued at $156,000 after purchasing an additional 140 shares in the last quarter. Pachira Investments Inc. grew its position in shares of Shopify by 2.1% in the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock valued at $552,000 after purchasing an additional 146 shares in the last quarter. Finally, Baldwin Brothers LLC MA grew its position in shares of Shopify by 49.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after purchasing an additional 147 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.