Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Piper Jaffray Companies from $286.00 to $320.00 in a research note released on Thursday morning, The Fly reports. They currently have a neutral rating on the software maker’s stock.
Several other equities analysts have also recently weighed in on SHOP. Mackie boosted their price objective on Shopify from $280.00 to $360.00 and gave the stock a buy rating in a research report on Monday, July 15th. Zacks Investment Research cut Shopify from a buy rating to a hold rating in a research report on Friday, May 24th. Roth Capital set a $300.00 price objective on Shopify and gave the stock a hold rating in a research report on Sunday, July 21st. Wedbush cut Shopify from an outperform rating to a neutral rating and boosted their price objective for the stock from $270.00 to $305.00 in a research report on Tuesday, June 25th. They noted that the move was a valuation call. Finally, Jefferies Financial Group boosted their price objective on Shopify from $250.00 to $300.00 and gave the stock a hold rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $324.19.
Shares of NYSE:SHOP traded down $12.82 on Thursday, reaching $319.37. The company had a trading volume of 39,543 shares, compared to its average volume of 1,937,231. Shopify has a twelve month low of $117.64 and a twelve month high of $350.79. The company has a 50-day moving average of $317.96. The stock has a market cap of $37.05 billion, a PE ratio of -523.56 and a beta of 1.30. The company has a quick ratio of 12.57, a current ratio of 12.56 and a debt-to-equity ratio of 0.05.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly 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 return on equity of 3.95% and a negative net margin of 5.98%. The company had revenue of $361.98 million during the quarter, compared to analysts’ expectations of $350.59 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 47.8% compared to the same quarter last year. On average, research analysts anticipate that Shopify will post -0.78 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the business. Aperio Group LLC bought a new stake in Shopify during the 2nd quarter worth approximately $37,000. Valeo Financial Advisors LLC lifted 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 worth $28,000 after buying an additional 105 shares in the last quarter. Tortoise Investment Management LLC acquired a new position in Shopify during the 1st quarter worth $29,000. Ropes Wealth Advisors LLC lifted its holdings in Shopify by 41.0% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock worth $44,000 after buying an additional 43 shares in the last quarter. Finally, Sound Income Strategies LLC lifted 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 worth $34,000 after buying an additional 162 shares in the last quarter. 67.62% of the stock is owned by hedge funds and other institutional investors.
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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