Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) Barclays raised its price target from $63.00 to $65.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the software maker’s stock.
A number of other brokerage firms have also recently issued reports on SHOP. CIBC decreased their price target on shares of Shopify from $100.00 to $85.00 and gave the company an outperform rating in a research report on Thursday, May 9th. Needham & Company LLC reiterated a hold rating on shares of Shopify in a report on Thursday, May 9th. Evercore ISI raised their price target on Shopify from $75.00 to $80.00 and gave the company an outperform rating in a research report on Thursday. Morgan Stanley raised their price target on Shopify from $80.00 to $85.00 and gave the stock an overweight rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Shopify from $80.00 to $85.00 and gave the company a buy rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have a hold rating, and twenty-three have given a buy rating. Based on data from MarketBeat, Shopify currently has an average rating of Moderate Buy and a consensus price target of $77.24.
Check out our latest analysis in the SHOP
Shopify shares rise 1.1%
SHOP shares opened at $69.30 on Thursday. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a market cap of $89.31 billion, a P/E ratio of -407.65, a PEG ratio of 3.14 and a beta of 2.30. The company has a 50-day moving average of $63.43 and a 200-day moving average of $69.89. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14.
Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) released its latest earnings results on Wednesday, August 7. The software maker reported earnings per share of $0.26 for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Shopify’s revenue grew 20.7% year over year. During the same period last year, the company posted earnings per share of -$0.08. On average, equities analysts expect Shopify to post earnings per share of $0.62 for the current year.
Institutional investors comment on Shopify
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Asset Management One Co. Ltd. increased its holdings in Shopify by 4,007.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after buying an additional 34,624 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Shopify by 18.5% in the 4th quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after buying an additional 1,681 shares during the same period. Allspring Global Investments Holdings LLC increased its holdings in shares of Shopify by 39.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 259,686 shares of the software maker’s stock valued at $20,230,000 after acquiring an additional 73,160 shares during the same period. Sequoia Financial Advisors LLC increased its stake in shares of Shopify by 135.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 34,679 shares of the software maker’s stock valued at $2,701,000 after acquiring an additional 19,977 shares during the last quarter. Finally, Soltis Investment Advisors LLC acquired a new stake in Shopify during the fourth quarter valued at $283,000. 69.27% of the shares are owned by institutional investors.
Shopify Company Profile
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Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, Asia Pacific, Australia, China, and Latin America. The Company’s platform enables merchants to display, manage, market, and sell their products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces. It enables managing products and inventory, processing orders and payments, fulfilling and shipping orders, acquiring new buyers and building customer relationships, sourcing products, using analytics and reports, managing cash, payments and transactions, and accessing financing.
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