Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) had its price objective hoisted by DA Davidson to $120.00 in a report released on Tuesday morning. The brokerage currently has a neutral rating on the software maker’s stock.
Several other equities research analysts also recently commented on SHOP. BidaskClub raised shares of Shopify Inc (US) from a hold rating to a buy rating in a report on Wednesday, October 25th. Monness Crespi & Hardt raised shares of Shopify Inc (US) from a neutral rating to a buy rating and set a $125.00 price objective on the stock in a report on Friday, October 27th. Oppenheimer reaffirmed a hold rating on shares of Shopify Inc (US) in a report on Tuesday, October 31st. Piper Jaffray Companies upped their price objective on shares of Shopify Inc (US) from $110.00 to $120.00 in a report on Tuesday, October 31st. Finally, Roth Capital upped their price objective on shares of Shopify Inc (US) from $117.00 to $119.00 and gave the company a buy rating in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the stock. Shopify Inc (US) has a consensus rating of Buy and an average price target of $119.91.
Shares of Shopify Inc (NYSE SHOP) opened at $142.78 on Tuesday. The company has a market cap of $14,170.00 and a PE ratio of -339.95. Shopify Inc has a fifty-two week low of $58.63 and a fifty-two week high of $146.12. The company has a current ratio of 10.82, a quick ratio of 10.83 and a debt-to-equity ratio of 0.01.
Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Thursday, February 15th. The software maker reported ($0.03) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.09. The business had revenue of $222.80 million for the quarter, compared to the consensus estimate of $209.70 million. Shopify Inc (US) had a negative net margin of 5.94% and a negative return on equity of 4.74%. Shopify Inc (US)’s revenue for the quarter was up 70.9% on a year-over-year basis. equities research analysts anticipate that Shopify Inc will post -0.44 EPS for the current year.
Several hedge funds have recently bought and sold shares of SHOP. Coatue Management LLC increased its position in shares of Shopify Inc (US) by 166.8% in the fourth quarter. Coatue Management LLC now owns 7,006,613 shares of the software maker’s stock worth $707,668,000 after purchasing an additional 4,380,903 shares during the last quarter. Baillie Gifford & Co. bought a new position in shares of Shopify Inc (US) in the third quarter worth approximately $109,344,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Shopify Inc (US) in the fourth quarter worth approximately $39,580,000. Franklin Resources Inc. grew its position in Shopify Inc (US) by 68.1% during the fourth quarter. Franklin Resources Inc. now owns 897,340 shares of the software maker’s stock valued at $90,644,000 after acquiring an additional 363,490 shares during the last quarter. Finally, Whale Rock Capital Management LLC grew its position in Shopify Inc (US) by 37.7% during the third quarter. Whale Rock Capital Management LLC now owns 1,323,557 shares of the software maker’s stock valued at $154,181,000 after acquiring an additional 362,527 shares during the last quarter. Institutional investors own 60.34% 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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