Shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) have received a consensus recommendation of “Hold” from the thirty research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $351.59.
Several analysts have recently issued reports on SHOP shares. ValuEngine lowered Shopify from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Loop Capital started coverage on Shopify in a report on Wednesday. They set a “hold” rating and a $420.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $400.00 target price on shares of Shopify in a report on Monday, October 28th. Rosenblatt Securities reissued a “buy” rating and set a $481.00 target price on shares of Shopify in a report on Wednesday, October 30th. Finally, Guggenheim reissued a “hold” rating on shares of Shopify in a report on Tuesday, December 3rd.
Shares of SHOP traded up $3.58 during trading hours on Friday, hitting $454.88. 1,869,206 shares of the company were exchanged, compared to its average volume of 1,607,774. The company has a market cap of $50.89 billion, a price-to-earnings ratio of -745.70 and a beta of 1.21. Shopify has a fifty-two week low of $154.10 and a fifty-two week high of $458.91. The company has a quick ratio of 11.21, a current ratio of 11.21 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average is $394.71 and its 200 day moving average is $347.87.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.08. The company had revenue of $390.55 million for the quarter, compared to analyst estimates of $384.05 million. Shopify had a negative return on equity of 3.36% and a negative net margin of 8.97%. Analysts anticipate that Shopify will post -1.25 EPS for the current year.
Several hedge funds have recently made changes to their positions in SHOP. First Trust Advisors LP raised its position in Shopify by 15.6% in the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after purchasing an additional 472 shares during the last quarter. Aperio Group LLC bought a new position in Shopify in the second quarter valued at about $37,000. APG Asset Management N.V. bought a new position in Shopify in the second quarter valued at about $8,014,000. Pinebridge Investments L.P. raised its position in Shopify by 1.7% in the second quarter. Pinebridge Investments L.P. now owns 81,942 shares of the software maker’s stock valued at $24,594,000 after purchasing an additional 1,349 shares during the last quarter. Finally, US Bancorp DE raised its position in Shopify by 3.0% in the second quarter. US Bancorp DE now owns 17,562 shares of the software maker’s stock valued at $5,271,000 after purchasing an additional 515 shares during the last quarter. Institutional investors and hedge funds own 57.33% of the company’s stock.
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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