Robert W. Baird reissued their outperform rating on shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) in a research note published on Tuesday morning. The firm currently has a $95.00 price target on the software maker’s stock.
A number of other analysts have also commented on the stock. Vetr lowered shares of Shopify from a sell rating to a strong sell rating and set a $73.40 target price for the company. in a report on Monday, May 8th. Barclays PLC initiated coverage on shares of Shopify in a report on Tuesday, March 28th. They set an equal weight rating and a $64.00 target price for the company. CSFB reaffirmed an outperform rating and set a $128.00 target price on shares of Shopify in a report on Tuesday, May 23rd. Wedbush lifted their target price on shares of Shopify from $85.00 to $95.00 and gave the stock an outperform rating in a report on Wednesday, May 3rd. Finally, BTIG Research reaffirmed a buy rating and set a $75.00 target price (up previously from $65.00) on shares of Shopify in a report on Tuesday, March 21st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $79.13.
Shares of Shopify (NYSE:SHOP) opened at 93.18 on Tuesday. The firm’s market cap is $8.52 billion. The stock’s 50 day moving average price is $90.98 and its 200-day moving average price is $72.75. Shopify has a 12 month low of $31.83 and a 12 month high of $100.80.
Shopify (NYSE:SHOP) (TSE:SH) last released its earnings results on Tuesday, May 2nd. The software maker reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. Shopify had a negative net margin of 9.01% and a negative return on equity of 11.26%. The firm had revenue of $127.40 million during the quarter, compared to analyst estimates of $121.67 million. During the same quarter in the previous year, the business earned ($0.06) EPS. The business’s quarterly revenue was up 75.2% compared to the same quarter last year. Equities research analysts anticipate that Shopify will post ($0.14) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in SHOP. FNY Partners Fund LP bought a new position in shares of Shopify during the first quarter worth approximately $102,000. Toronto Dominion Bank raised its position in shares of Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock worth $111,000 after buying an additional 973 shares during the period. SG Americas Securities LLC bought a new position in shares of Shopify during the first quarter worth approximately $116,000. FNY Managed Accounts LLC bought a new position in shares of Shopify during the first quarter worth approximately $136,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Shopify by 55.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,511 shares of the software maker’s stock worth $193,000 after buying an additional 1,608 shares during the period. Institutional investors and hedge funds own 61.34% of the company’s stock.
About Shopify
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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