Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective increased by Robert W. Baird from $360.00 to $370.00 in a report released on Thursday, The Fly reports. Robert W. Baird’s price objective would suggest a potential upside of 11.38% from the stock’s current price.
SHOP has been the topic of a number of other reports. National Bank Financial boosted their target price on shares of Shopify from $270.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, June 20th. CIBC downgraded shares of Shopify from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $260.00 to $350.00 in a report on Thursday, June 20th. They noted that the move was a valuation call. UBS Group boosted their target price on shares of Shopify from $295.00 to $395.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. KeyCorp restated an “overweight” rating and issued a $350.00 target price (up from $300.00) on shares of Shopify in a report on Monday, July 8th. Finally, SunTrust Banks boosted their target price on shares of Shopify to $245.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $324.19.
SHOP stock traded down $9.20 during mid-day trading on Thursday, hitting $332.19. The company had a trading volume of 1,978,799 shares, compared to its average volume of 1,706,592. The company has a market capitalization of $35.46 billion, a P/E ratio of -544.57 and a beta of 1.30. Shopify has a 12-month low of $117.64 and a 12-month high of $350.79. The company has a quick ratio of 12.57, a current ratio of 12.56 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $317.96.
Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $361.98 million for the quarter, compared to the consensus estimate of $350.59 million. During the same period in the previous year, the firm posted $0.02 EPS. The business’s quarterly revenue was up 47.8% on a year-over-year basis. On average, research analysts forecast that Shopify will post -0.78 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of SHOP. Valeo Financial Advisors LLC grew its holdings in Shopify by 328.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Tortoise Investment Management LLC bought a new position in Shopify during the 1st quarter valued at about $29,000. Sound Income Strategies LLC grew its holdings in Shopify by 8,100.0% during the 1st quarter. Sound Income Strategies LLC now owns 164 shares of the software maker’s stock valued at $34,000 after purchasing an additional 162 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new position in Shopify during the 1st quarter valued at about $35,000. Finally, Signaturefd LLC grew its holdings in Shopify by 56.9% during the 1st quarter. Signaturefd LLC now owns 171 shares of the software maker’s stock valued at $35,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 67.81% of the company’s stock.
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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