Shopify Inc (US) (SHOP) Upgraded by Vetr to “Strong-Buy”

Vetr upgraded shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) from a buy rating to a strong-buy rating in a report issued on Thursday. Vetr currently has $152.51 target price on the software maker’s stock.

Other equities analysts have also issued reports about the company. Piper Jaffray Companies increased their price target on Shopify Inc (US) from $110.00 to $120.00 in a research note on Tuesday, October 31st. Roth Capital increased their price target on Shopify Inc (US) from $119.00 to $127.00 and gave the company a buy rating in a research note on Tuesday, November 21st. KeyCorp reaffirmed a buy rating and set a $116.00 price target on shares of Shopify Inc (US) in a research note on Wednesday, November 1st. Monness Crespi & Hardt raised Shopify Inc (US) from a neutral rating to a buy rating and set a $125.00 price target for the company in a research note on Friday, October 27th. Finally, BidaskClub raised Shopify Inc (US) from a hold rating to a buy rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $120.07.

Shopify Inc (NYSE SHOP) opened at $135.75 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.83 and a current ratio of 10.82. The stock has a market capitalization of $13,320.00 and a price-to-earnings ratio of -319.48. Shopify Inc has a one year low of $58.63 and a one year high of $146.12.

Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Thursday, February 15th. The software maker reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $222.80 million during the quarter, compared to analyst estimates of $209.70 million. Shopify Inc (US) had a negative return on equity of 4.74% and a negative net margin of 5.94%. The firm’s revenue was up 70.9% on a year-over-year basis. equities research analysts predict that Shopify Inc will post -0.8 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Advisory Services Network LLC boosted its position in shares of Shopify Inc (US) by 26.6% in the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after buying an additional 298 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC boosted its position in shares of Shopify Inc (US) by 6.4% in the fourth quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 8,030 shares of the software maker’s stock worth $811,000 after buying an additional 485 shares during the period. Quinn Opportunity Partners LLC boosted its position in shares of Shopify Inc (US) by 14.3% in the fourth quarter. Quinn Opportunity Partners LLC now owns 4,000 shares of the software maker’s stock worth $404,000 after buying an additional 500 shares during the period. Meridian Wealth Management LLC boosted its position in shares of Shopify Inc (US) by 18.5% in the third quarter. Meridian Wealth Management LLC now owns 3,477 shares of the software maker’s stock worth $413,000 after buying an additional 544 shares during the period. Finally, Cetera Advisors LLC boosted its position in shares of Shopify Inc (US) by 7.1% in the third quarter. Cetera Advisors LLC now owns 9,260 shares of the software maker’s stock worth $1,077,000 after buying an additional 610 shares during the period. 60.34% of the stock is owned by institutional investors and hedge funds.

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Shopify Inc (US) Company Profile

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.

Analyst Recommendations for Shopify Inc (US) (NYSE:SHOP)

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