BidaskClub upgraded shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.
Other equities research analysts have also issued reports about the stock. Roth Capital restated a buy rating and set a $92.00 target price (up from $82.00) on shares of Shopify in a research report on Friday, May 5th. Canaccord Genuity reaffirmed a buy rating and set a $90.00 price target (up previously from $68.00) on shares of Shopify in a research note on Tuesday, May 2nd. Eight Capital raised Shopify from a neutral rating to a buy rating in a research note on Wednesday, May 3rd. Industrial Alliance Securities lifted their price target on Shopify from $87.00 to $134.00 and gave the stock a buy rating in a research note on Friday, May 26th. Finally, Vetr raised Shopify from a hold rating to a buy rating and set a $100.00 price target for the company in a research note on Tuesday, May 30th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $90.12.
Shopify (SHOP) traded down 2.62% on Friday, reaching $103.74. 1,722,794 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $94.60 and a 200 day moving average price of $81.29. The stock’s market cap is $10.22 billion. Shopify has a 12-month low of $37.74 and a 12-month high of $107.00.
Shopify (NYSE:SHOP) (TSE:SH) last issued its earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.05. The company had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The business’s revenue was up 75.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.04) EPS. Analysts forecast that Shopify will post ($0.05) EPS for the current year.
Several large investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC raised its stake in Shopify by 51.5% in the first quarter. Parametric Portfolio Associates LLC now owns 24,584 shares of the software maker’s stock valued at $1,674,000 after buying an additional 8,361 shares in the last quarter. Sigma Investment Counselors Inc. bought a new stake in shares of Shopify during the first quarter valued at $306,000. Toronto Dominion Bank raised its stake 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 valued at $111,000 after buying an additional 973 shares in the last quarter. Hilton Capital Management LLC bought a new stake in shares of Shopify during the first quarter valued at $229,000. Finally, Swiss National Bank raised its stake in shares of Shopify by 10.4% in the first quarter. Swiss National Bank now owns 107,300 shares of the software maker’s stock valued at $7,319,000 after buying an additional 10,100 shares in the last quarter. 57.07% of the stock is currently owned by institutional investors and hedge funds.
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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