Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) Evercore’s price target was raised from $75.00 to $80.00 in a report released Thursday, BayStreet.CA reports.
Other equities analysts have also issued reports on the stock. Canaccord Genuity Group cut 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 9th. JPMorgan Chase & Co. began coverage on shares of Shopify in a research report on Tuesday, June 11th. They issued an overweight rating and a $74.00 price target for the company. BNP Paribas upgraded shares of Shopify from an underperform rating to an outperform rating in a report on Thursday, May 2nd. Citigroup cut their price target on Shopify from $97.00 to $90.00 and gave the company a buy rating in a research note on Thursday. Finally, UBS Group raised their price target on Shopify from $71.00 to $75.00 and gave the stock a neutral rating in a research report on Thursday. 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. Based on data from MarketBeat.com, Shopify currently has an average rating of Moderate Buy and a consensus price target of $77.24.
Check out our latest research report on SHOP
Development of Shopify shares
SHOP stock rose $0.75 in midday trading on Thursday, reaching $69.30. 10,931,244 shares of the company traded hands, compared to an average volume of 10,422,090. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a 50-day moving average price of $63.43 and a 200-day moving average price 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. The company has a market capitalization 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.
Shopify (NYSE:SHOP – 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 analysts’ consensus estimates of $0.20 by $0.06. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company posted revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. The company’s quarterly revenue grew 20.7% year-over-year. In the same quarter last year, the company reported earnings per share ($0.08). As a group, equities analysts expect Shopify to report earnings per share of $0.62 in the current year.
Institutional inflows and outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of SHOP. Norden Group LLC acquired a new position in shares of Shopify in the first quarter valued at around $3,618,000. Silvercrest Asset Management Group LLC increased its holdings in Shopify by 735.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock valued at $4,084,000 after acquiring an additional 46,589 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Shopify by 5.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 523,257 shares of the software maker’s stock valued at $40,838,000 after acquiring an additional 28,639 shares in the last quarter. FIL Ltd increased its holdings in Shopify by 1.8% in the fourth quarter. FIL Ltd now owns 13,303,001 shares of the software maker’s stock valued at $1,035,688,000 after purchasing an additional 238,596 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake 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 valued at $2,807,000 after purchasing an additional 34,624 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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