JMP Securities reiterated its “market outperform” rating for shares of Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) in a research report published on Thursday, Benzinga reports. The brokerage currently has a price target of $80.00 for the software maker’s stock.
Other equities analysts have also recently issued research reports on the company. DA Davidson decreased their price target on Shopify from $90.00 to $84.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Evercore increased their price target on Shopify from $75.00 to $80.00 in a research note on Thursday. BNP Paribas raised Shopify from an underperform rating to an outperform rating in a report on Thursday, May 2nd. Loop Capital decreased their price target on shares of Shopify from $90.00 to $80.00 and gave the stock a hold rating in a report on Monday, April 15th. Finally, Piper Sandler increased their price target on shares of Shopify from $63.00 to $67.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have given the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $77.24.
Check out our latest analysis on Shopify
Development of Shopify shares
NYSE SHOP shares rose $0.75 during midday trading on Thursday, reaching $69.30. The trading volume of the company’s shares was 10,931,244 shares, compared to its average volume of 10,422,090 shares. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. The stock 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 price of $63.43 and a 200-day moving average price of $69.89. Shopify has a 12-month low of $45.50 and a 12-month high of $91.57.
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 posted revenue of $2.05 billion during the quarter, compared to analyst expectations of $2.01 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company’s revenue grew 20.7% during the quarter compared to the same quarter last year. During the same period last year, the company posted earnings per share of -$0.08. As a group, equities analysts forecast that Shopify will post earnings per share of $0.62 for the current year.
Institutional trading with Shopify
Hedge funds have recently bought and sold shares of the company. Capital World Investors increased its stake in Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after acquiring an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after acquiring an additional 5,982,434 shares during the period. GQG Partners LLC increased its stake in Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Finally, Capital International Investors increased its stake in Shopify by 3.4% in the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after acquiring an additional 542,503 shares during the period. Institutional investors own 69.27% of the company’s shares.
About Shopify
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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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