Shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) have received an average rating of “Buy” from the thirty-eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation, twenty have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $83.90.
SHOP has been the subject of a number of analyst reports. Barclays PLC initiated coverage on Shopify in a research note on Tuesday, March 28th. They set an “equal weight” rating and a $64.00 price objective for the company. Vetr cut Shopify from a “strong-buy” rating to a “buy” rating and set a $79.10 price target for the company. in a research note on Tuesday, March 28th. Wedbush reiterated an “outperform” rating and issued a $85.00 price target (up from $75.00) on shares of Shopify in a research note on Friday, April 21st. Mackie reiterated a “buy” rating and issued a $95.00 price target (up from $70.00) on shares of Shopify in a research note on Sunday, April 23rd. Finally, Roth Capital set a $82.00 price target on Shopify and gave the company a “buy” rating in a research note on Tuesday, April 25th.
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Shares of Shopify (SHOP) traded up 2.23% during mid-day trading on Monday, reaching $91.41. The company had a trading volume of 603,830 shares. The stock’s market capitalization is $8.36 billion. The firm has a 50-day moving average price of $90.99 and a 200-day moving average price of $73.02. Shopify has a 1-year low of $31.83 and a 1-year high of $100.80.
Shopify (NYSE:SHOP) (TSE:SH) last issued its quarterly earnings data on Tuesday, May 2nd. The software maker reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The firm had revenue of $127.40 million during the quarter, compared to analysts’ expectations of $121.67 million. Shopify had a negative return on equity of 11.26% and a negative net margin of 9.01%. The firm’s quarterly revenue was up 75.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. Equities analysts expect that Shopify will post ($0.14) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the company. FNY Partners Fund LP bought a new stake in Shopify during the first quarter valued at approximately $102,000. Toronto Dominion Bank raised its stake in Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock valued at $111,000 after buying an additional 973 shares during the period. SG Americas Securities LLC bought a new stake in Shopify during the first quarter valued at approximately $116,000. FNY Managed Accounts LLC bought a new stake in Shopify during the first quarter valued at approximately $136,000. Finally, AQR Capital Management LLC bought a new stake in Shopify during the fourth quarter valued at approximately $203,000. 61.37% of the stock is currently owned by hedge funds and other institutional investors.
Shopify Company Profile
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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