Macquarie Reiterates Outperform Rating for Shopify Inc (US) (SHOP)

Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP)‘s stock had its “outperform” rating reiterated by equities research analysts at Macquarie in a research note issued on Thursday. They currently have a $150.00 price target on the software maker’s stock, down from their previous price target of $155.00. Macquarie’s price target would indicate a potential upside of 9.49% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. William Blair reiterated a “market perform” rating on shares of Shopify Inc (US) in a research note on Thursday, February 15th. Barclays restated a “neutral” rating on shares of Shopify Inc (US) in a research report on Sunday, November 5th. Canaccord Genuity restated a “buy” rating and set a $155.00 price objective (up from $115.00) on shares of Shopify Inc (US) in a research report on Friday, February 16th. Piper Jaffray Companies boosted their price objective on shares of Shopify Inc (US) from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Finally, Oppenheimer restated a “hold” rating on shares of Shopify Inc (US) in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $120.07.

Shares of Shopify Inc (NYSE:SHOP) opened at $137.00 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 10.82 and a quick ratio of 10.83. The stock has a market capitalization of $13,600.00 and a P/E ratio of -326.19. Shopify Inc has a 12 month low of $58.63 and a 12 month 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 the consensus estimate of ($0.12) by $0.09. The business had revenue of $222.80 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 70.9% on a year-over-year basis. research analysts predict that Shopify Inc will post -0.8 EPS for the current year.

Several large investors have recently made changes to their positions in the company. William Blair Investment Management LLC increased its holdings in shares of Shopify Inc (US) by 51.9% during the fourth quarter. William Blair Investment Management LLC now owns 411,630 shares of the software maker’s stock worth $41,575,000 after buying an additional 140,585 shares in the last quarter. Balentine LLC acquired a new position in shares of Shopify Inc (US) during the fourth quarter worth $101,000. Financial Advocates Investment Management acquired a new position in shares of Shopify Inc (US) during the fourth quarter worth $203,000. Whale Rock Capital Management LLC increased its holdings in shares of Shopify Inc (US) by 23.6% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,636,189 shares of the software maker’s stock worth $165,255,000 after buying an additional 312,632 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Shopify Inc (US) during the fourth quarter worth $1,538,000. 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.

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

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