Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective raised by Raymond James from $270.00 to $365.00 in a report released on Friday morning, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the software maker’s stock.
A number of other equities research analysts have also weighed in on SHOP. Jefferies Financial Group raised their price objective on shares of Shopify from $250.00 to $300.00 and gave the company a hold rating in a report on Thursday. National Bank Financial increased their target price on shares of Shopify from $270.00 to $350.00 and gave the company an outperform rating in a research report on Thursday, June 20th. Guggenheim downgraded shares of Shopify from a buy rating to a neutral rating in a research report on Monday, May 13th. They noted that the move was a valuation call. Wells Fargo & Co increased their target price on shares of Shopify from $195.00 to $275.00 and gave the company an outperform rating in a research report on Wednesday, May 1st. Finally, UBS Group increased their target price on shares of Shopify from $295.00 to $395.00 and gave the company a buy rating in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. Shopify has a consensus rating of Hold and an average price target of $324.19.
Shares of SHOP traded down $9.20 during midday trading on Friday, reaching $332.19. The stock had a trading volume of 1,978,799 shares, compared to its average volume of 1,706,592. Shopify has a 1-year low of $117.64 and a 1-year high of $350.79. The business has a fifty day moving average price of $317.96. The firm has a market capitalization of $35.46 billion, a P/E ratio of -544.57 and a beta of 1.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 12.57 and a current ratio of 12.56.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.45. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.74%. The business had revenue of $361.98 million for the quarter, compared to analyst estimates of $350.59 million. During the same period last year, the business earned $0.02 EPS. The company’s revenue was up 47.8% on a year-over-year basis. Research analysts expect that Shopify will post -0.78 earnings per share for the current year.
Institutional investors have recently modified their holdings of the business. Henry James International Management Inc. grew its position in Shopify by 140.7% during the 1st quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock worth $7,014,000 after purchasing an additional 19,846 shares during the last quarter. Weaver Consulting Group purchased a new position in Shopify during the 1st quarter worth $54,000. Bollard Group LLC grew its position in Shopify by 28.5% during the 1st quarter. Bollard Group LLC now owns 26,150 shares of the software maker’s stock worth $5,403,000 after purchasing an additional 5,800 shares during the last quarter. B. Riley Wealth Management Inc. grew its position in Shopify by 21.4% during the 1st quarter. B. Riley Wealth Management Inc. now owns 3,897 shares of the software maker’s stock worth $805,000 after purchasing an additional 688 shares during the last quarter. Finally, BKS Advisors LLC purchased a new position in Shopify during the 1st quarter worth $289,000. 67.81% of the stock is currently owned by institutional investors.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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