Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) – Wedbush issued their Q1 2019 earnings per share estimates for Shopify Inc (US) in a research report issued on Monday. Wedbush analyst A. Turner expects that the software maker will post earnings per share of ($0.17) for the quarter. Wedbush has a “Outperform” rating and a $140.00 price objective on the stock. Wedbush also issued estimates for Shopify Inc (US)’s Q3 2019 earnings at ($0.09) EPS and Q4 2019 earnings at ($0.02) EPS.
Several other research analysts have also recently commented on SHOP. DA Davidson boosted their price target on shares of Shopify Inc (US) to $110.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Roth Capital reiterated a “buy” rating and set a $144.00 price target (up previously from $127.00) on shares of Shopify Inc (US) in a report on Tuesday. Morgan Stanley boosted their price objective on shares of Shopify Inc (US) from $116.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Barclays boosted their price objective on shares of Shopify Inc (US) from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 1st. Finally, Vetr downgraded shares of Shopify Inc (US) from a “strong-buy” rating to a “buy” rating and set a $122.39 price objective for the company. in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Shopify Inc (US) has a consensus rating of “Buy” and a consensus price target of $109.24.
Shopify Inc (NYSE SHOP) traded up $10.62 during midday trading on Tuesday, reaching $136.68. 2,757,403 shares of the company’s stock traded hands, compared to its average volume of 1,461,704. The company has a quick ratio of 10.64, a current ratio of 10.64 and a debt-to-equity ratio of 0.02. Shopify Inc has a 12 month low of $54.30 and a 12 month high of $137.95. The firm has a market cap of $13,470.00 and a PE ratio of -278.06.
Hedge funds have recently added to or reduced their stakes in the stock. Coatue Management LLC raised its position in Shopify Inc (US) by 166.8% during the 4th quarter. Coatue Management LLC now owns 7,006,613 shares of the software maker’s stock worth $707,668,000 after buying an additional 4,380,903 shares during the last quarter. Baillie Gifford & Co. purchased a new position in Shopify Inc (US) during the 3rd quarter worth $109,344,000. Arrowstreet Capital Limited Partnership purchased a new position in Shopify Inc (US) during the 4th quarter worth $39,580,000. Franklin Resources Inc. raised its position in Shopify Inc (US) by 68.1% during the 4th quarter. Franklin Resources Inc. now owns 897,340 shares of the software maker’s stock worth $90,644,000 after buying an additional 363,490 shares during the last quarter. Finally, Whale Rock Capital Management LLC raised its position in Shopify Inc (US) by 37.7% during the 3rd quarter. Whale Rock Capital Management LLC now owns 1,323,557 shares of the software maker’s stock worth $154,181,000 after buying an additional 362,527 shares during the last quarter. Hedge funds and other institutional investors own 54.61% of the company’s stock.
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About Shopify Inc (US)
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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