Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) The price target was raised by Deutsche Bank Aktiengesellschaft from $80.00 to $85.00 in a research report sent to investors on Thursday morning, Benzinga reports. They are currently giving a buy recommendation for the software manufacturer’s stock.
A number of other equities analysts have also recently issued reports on the stock. TD Securities lowered their price target on shares of Shopify from $80.00 to $72.00 and issued a hold rating on the stock in a research note on Thursday, May 9th. CIBC lowered their price target on shares of Shopify from $100.00 to $85.00 and issued an outperform rating on the stock in a research note on Thursday, May 9th. KeyCorp initiated coverage on shares of Shopify in a research note on Thursday, July 25th. They issued an overweight rating and a $80.00 price target on the stock. 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 on the stock. Finally, JMP Securities raised a market perform rating on the stock to an outperform rating and issued a price target of $80.00 on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have given a buy rating on the company’s stock. Based on data from MarketBeat, Shopify currently has a consensus rating of Moderate Buy and an average price target of $77.24.
Read our latest stock analysis in the SHOP
Shopify price history
SHOP shares rose $0.75 in midday trading on Thursday, reaching $69.30. The company had a trading volume of 10,931,244 shares, compared to its average volume of 10,422,090. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The stock’s 50-day average price is $63.43 and its 200-day average price is $69.89. 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 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.
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7. The software maker reported earnings per share (EPS) 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 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%. Shopify’s revenue grew 20.7% year-over-year. During the same quarter last year, the company generated earnings per share of ($0.08). Equities analysts forecast that Shopify will report earnings per share of $0.62 for the current year.
Hedge funds comment on Shopify
Several hedge funds and other institutional investors have recently changed their holdings in SHOP. GQG Partners LLC increased its position in shares of Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares in the last quarter. Norges Bank acquired a new position in Shopify in the 4th quarter valued at approximately $1,049,089,000. Capital World Investors increased its position in Shopify by 26.2% in the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position 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 worth $2,642,265,000 after purchasing an additional 5,982,434 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in Shopify by 214.5% in the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock worth $224,492,000 after purchasing an additional 1,983,996 shares in the last quarter. 69.27% of the shares are owned by hedge funds and other institutional investors.
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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