Shopify (NYSE:SHOP) Rating Reiterated by William Blair

William Blair reiterated their hold rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research note issued to investors on Tuesday, TipRanks reports.

SHOP has been the topic of a number of other reports. Morgan Stanley lowered shares of Shopify from an equal weight rating to an underweight rating and upped their target price for the stock from $173.00 to $209.00 in a research note on Tuesday, May 14th. They noted that the move was a valuation call. CIBC downgraded shares of Shopify from an outperform rating to a neutral rating and lifted their price target for the stock from $260.00 to $350.00 in a research note on Thursday, June 20th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price target on shares of Shopify from $250.00 to $300.00 and gave the stock a hold rating in a report on Thursday, August 1st. Guggenheim downgraded shares of Shopify from a buy rating to a neutral rating in a research report on Monday, May 13th. They noted that the move was a valuation call. Finally, Raymond James raised their price objective on shares of Shopify from $270.00 to $365.00 and gave the company an outperform rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $335.88.

SHOP traded up $10.27 on Tuesday, hitting $347.51. 3,196,958 shares of the company were exchanged, compared to its average volume of 1,792,052. Shopify has a twelve month low of $117.64 and a twelve month high of $409.61. The company has a market cap of $37.62 billion, a price-to-earnings ratio of -569.69 and a beta of 1.23. The company has a current ratio of 11.44, a quick ratio of 11.44 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $361.45 and a two-hundred day moving average price of $281.04.



Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.45. The company had revenue of $361.98 million for the quarter, compared to the consensus estimate of $350.59 million. Shopify had a negative return on equity of 3.85% and a negative net margin of 5.98%. Shopify’s revenue was up 47.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 EPS. Equities analysts expect that Shopify will post -0.82 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Thoroughbred Financial Services LLC grew its stake in Shopify by 29,316.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,533,766 shares of the software maker’s stock worth $153,377,000 after buying an additional 1,528,552 shares during the last quarter. CIBC World Markets Inc. increased its holdings in shares of Shopify by 378.5% in the 1st quarter. CIBC World Markets Inc. now owns 865,184 shares of the software maker’s stock valued at $178,764,000 after acquiring an additional 684,365 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Shopify by 8.4% in the 2nd quarter. Baillie Gifford & Co. now owns 6,418,913 shares of the software maker’s stock valued at $1,926,637,000 after acquiring an additional 498,874 shares during the period. The Manufacturers Life Insurance Company raised its position in Shopify by 76.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 507,158 shares of the software maker’s stock valued at $104,789,000 after purchasing an additional 219,284 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Shopify by 2,201.6% in the 2nd quarter. Bessemer Group Inc. now owns 221,412 shares of the software maker’s stock valued at $66,457,000 after purchasing an additional 211,792 shares during the last quarter. 59.63% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

Recommended Story: What is the float in trading stocks?

Analyst Recommendations for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.