Shopify (NYSE:SHOP) Trading Up 0.1%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s stock price was up 0.1% during mid-day trading on Monday . The company traded as high as $60.57 and last traded at $59.99. Approximately 1,236,756 shares changed hands during trading, a decline of 88% from the average daily volume of 9,944,271 shares. The stock had previously closed at $59.94.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SHOP shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a report on Thursday, May 9th. Wells Fargo & Company cut their price target on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. JMP Securities raised shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Evercore ISI raised shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.62.

Shopify Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. The firm has a market capitalization of $77.33 billion, a price-to-earnings ratio of -352.88, a PEG ratio of 3.47 and a beta of 2.30. The business’s fifty day simple moving average is $63.02 and its 200 day simple moving average is $71.25.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. On average, research analysts forecast that Shopify Inc. will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Tobam raised its position in Shopify by 113.1% in the second quarter. Tobam now owns 2,717 shares of the software maker’s stock worth $179,000 after acquiring an additional 1,442 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in Shopify in the second quarter worth about $425,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Shopify by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 446,011 shares of the software maker’s stock worth $29,459,000 after acquiring an additional 33,565 shares during the period. Ameritas Advisory Services LLC raised its position in Shopify by 16.1% in the second quarter. Ameritas Advisory Services LLC now owns 47,805 shares of the software maker’s stock worth $3,158,000 after acquiring an additional 6,642 shares during the period. Finally, Ridgewood Investments LLC raised its position in Shopify by 35.1% in the second quarter. Ridgewood Investments LLC now owns 4,858 shares of the software maker’s stock worth $321,000 after acquiring an additional 1,263 shares during the period. 69.27% of the stock is owned by 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.