Shares of Shopify Inc. (NYSE:SHOP – Get Free Report) (TSE:SHOP) shot up 0.7% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $74.00 to $76.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Shopify traded as high as $75.77 and last traded at $75.43. 1,246,245 shares traded hands during trading, a decline of 88% from the average session volume of 10,297,650 shares. The stock had previously closed at $74.87.
Other analysts have also recently issued reports about the company. Roth Mkm increased their target price on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Barclays upped their price objective on Shopify from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 8th. Moffett Nathanson downgraded shares of Shopify from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $74.00 to $65.00 in a research note on Thursday, June 6th. TD Securities lowered their target price on shares of Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $85.00 price target on shares of Shopify in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $77.30.
Get Our Latest Analysis on Shopify
Hedge Funds Weigh In On Shopify
Shopify Stock Performance
The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $64.99 and a two-hundred day moving average price of $69.40. The stock has a market capitalization of $97.21 billion, a P/E ratio of -443.71, a price-to-earnings-growth ratio of 2.40 and a beta of 2.30.
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.
About Shopify
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.
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