Barclays Raises Shopify (NYSE:SHOP) Price Target to $65.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by analysts at Barclays from $63.00 to $65.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target would indicate a potential downside of 5.08% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Citigroup decreased their price target on Shopify from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price target on shares of Shopify in a research note on Thursday. Atb Cap Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. TD Securities decreased their price target on Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. Finally, Scotiabank decreased their price target on Shopify from $80.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.24.

Shopify Trading Up 7.2 %

NYSE SHOP traded up $4.59 on Thursday, reaching $68.48. 14,891,015 shares of the company were exchanged, compared to its average volume of 10,386,218. The business’s fifty day moving average price is $63.03 and its 200 day moving average price is $70.05. The stock has a market capitalization of $88.25 billion, a P/E ratio of -399.82, a price-to-earnings-growth ratio of 3.15 and a beta of 2.30. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Analysts forecast that Shopify will post 0.62 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new stake in Shopify during the fourth quarter valued at about $26,000. DSM Capital Partners LLC purchased a new stake in shares of Shopify in the fourth quarter worth about $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Shopify in the fourth quarter worth about $28,000. Your Advocates Ltd. LLP boosted its position in shares of Shopify by 4,344.4% in the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after buying an additional 391 shares during the period. Finally, OLD Point Trust & Financial Services N A purchased a new stake in shares of Shopify in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.