Robert W. Baird restated their outperform rating on shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) in a research note published on Tuesday, July 18th. Robert W. Baird currently has a $95.00 price objective on the software maker’s stock.
A number of other analysts have also issued reports on SHOP. Vetr lowered Shopify from a sell rating to a strong sell rating and set a $73.40 price objective on the stock. in a research note on Monday, May 8th. Barclays PLC assumed coverage on Shopify in a research note on Tuesday, March 28th. They issued an equal weight rating and a $64.00 target price on the stock. CSFB restated an outperform rating and issued a $128.00 target price on shares of Shopify in a research note on Tuesday, May 23rd. Wedbush upped their target price on Shopify from $85.00 to $95.00 and gave the stock an outperform rating in a research note on Wednesday, May 3rd. Finally, BTIG Research reiterated a buy rating and issued a $75.00 price objective (up from $65.00) on shares of Shopify in a report on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Shopify currently has an average rating of Buy and an average target price of $81.13.
Shares of Shopify (SHOP) traded up 2.82% during midday trading on Tuesday, hitting $92.98. 1,414,072 shares of the stock traded hands. Shopify has a 12-month low of $32.85 and a 12-month high of $100.80. The firm’s 50 day moving average price is $90.12 and its 200 day moving average price is $74.83. The company’s market capitalization is $8.50 billion.
Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings data on Tuesday, May 2nd. The software maker reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. Shopify had a negative return on equity of 11.26% and a negative net margin of 9.01%. The business had revenue of $127.40 million for the quarter, compared to analysts’ expectations of $121.67 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The business’s revenue was up 75.2% on a year-over-year basis. Analysts expect that Shopify will post ($0.14) EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. FNY Partners Fund LP acquired a new position in shares of Shopify during the first quarter worth approximately $102,000. Toronto Dominion Bank increased 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 last quarter. SG Americas Securities LLC acquired a new position in shares of Shopify during the first quarter worth about $116,000. FNY Managed Accounts LLC acquired a new position in shares of Shopify during the first quarter worth about $136,000. Finally, Ladenburg Thalmann Financial Services Inc. increased 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 last quarter. Hedge funds and other institutional investors own 61.37% of the company’s stock.
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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