Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) Evercore ISI raised its price target from $75.00 to $80.00 in a research report published on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the software maker’s stock. Evercore ISI’s price target suggests a potential upside of 15.44% from the stock’s last closing price.
Other equities analysts have also issued reports on the stock. Atb Cap Markets upgraded shares of Shopify from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. initiated coverage on shares of Shopify in a research note on Tuesday, June 11th. They issued an “overweight” rating and a $74.00 price target for the company. Robert W. Baird decreased their price target on Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Truist Financial decreased their price target on Shopify from $65.00 to $55.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Shopify from $95.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 9. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.24.
Read our latest stock report in the SHOP
Shopify commerce increases by 1.1%
NYSE:SHOP rose $0.75 on Thursday, reaching $69.30. 10,931,244 shares of the company traded hands, compared to its average volume of 10,422,090. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The company has a market cap of $89.31 billion, a price-to-earnings ratio of -407.65, a price-to-earnings-growth 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 $69.96. Shopify has a 52-week low of $45.50 and a 52-week 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 the consensus estimate of $0.20 by $0.06. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company posted revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. In the same quarter last year, the company posted earnings per share of ($0.08). The company’s revenue increased 20.7% compared to the same quarter last year. Overall, analysts expect Shopify to report earnings per share of $0.62 for the current year.
Institutional trading with Shopify
Several institutional investors have recently made changes to their positions in SHOP. L & S Advisors Inc. acquired a new position in shares of Shopify in the 2nd quarter valued at about $304,000. Axxcess Wealth Management LLC increased its holdings in Shopify by 15.1% in the second quarter. Axxcess Wealth Management LLC now owns 12,469 shares of the software maker’s stock valued at $824,000 after buying an additional 1,633 shares in the last quarter. Abbot Financial Management Inc. increased its holdings in Shopify by 43.8% in the second quarter. Abbot Financial Management Inc. now owns 11,404 shares of the software maker’s stock valued at $753,000 after buying an additional 3,472 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in Shopify in the second quarter valued at about $2,781,000. Finally, Total Clarity Wealth Management Inc. increased its holdings in Shopify by 23.6% during the second quarter. Total Clarity Wealth Management Inc. now owns 4,140 shares of the software maker’s stock worth $273,000 after purchasing an additional 790 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.
About Shopify
(Get free report)
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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