Shopify Inc. (NYSE:SHOP – Free Report) (TSE:SHOP) has received an average rating of “Moderate Buy” from the 38 analysts that are currently covering the company, MarketBeat Ratings reports. One equities analyst has rated the stock with a sell rating, 14 have assigned a hold rating and 23 have assigned a buy rating to the company. The average 1-year price target among the brokerages that have covered the stock in the last year is $77.24.
Several equities analysts have recently commented on the stock. Bank of America upgraded their rating on shares of Shopify from “neutral” to “buy” and increased their price target for the company from $78.00 to $82.00 in a research report on Tuesday, July 16. Citigroup decreased their price target on shares of Shopify from $97.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Scotiabank decreased their price target on shares of Shopify from $80.00 to $75.00 and gave the company a “sector perform” rating in a research report on Thursday, May 9. Canaccord Genuity Group decreased their price target on shares of Shopify from $90.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 9. Finally, Evercore raised its price target on Shopify shares from $75.00 to $80.00 in a research report on Thursday.
Read our latest research report on Shopify
Development of Shopify shares
NYSE SHOP shares opened at $69.30 on Friday. The company’s 50-day moving average price is $63.43 and its 200-day moving average price is $69.89. Shopify has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a market cap of $89.31 billion, a P/E ratio of -407.65, a price-to-earnings-growth ratio of 3.14 and a beta of 2.30. 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 – Get Free Report) (TSE:SHOP) last released its quarterly results on Wednesday, August 7. The software maker reported earnings per share (EPS) of $0.26 for the quarter, beating the consensus estimate of $0.20 by $0.06. The company posted revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company’s revenue grew 20.7% compared to the year-ago quarter. During the same period last year, the company posted earnings per share of ($0.08). On average, research analysts forecast that Shopify will report earnings per share of $0.62 for the current year.
Hedge funds comment on Shopify
Several hedge funds have recently made changes to their positions in SHOP. Private Wealth Management Group LLC acquired a new position in Shopify in the 4th quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in shares of Shopify in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP increased its position in shares of Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after acquiring an additional 391 shares in the last quarter. Finally, Cultivar Capital Inc. acquired a new stake in shares of Shopify in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 69.27% of the company’s stock.
Shopify Company Profile
(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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