Bank of America restated their sell rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report report published on Wednesday morning, AnalystRatings.com reports. Bank of America currently has a $900.00 price objective on the software maker’s stock.
A number of other research analysts have also recently commented on SHOP. Loop Capital boosted their price objective on Shopify from $350.00 to $700.00 and gave the stock a hold rating in a research note on Thursday, May 7th. Citigroup assumed coverage on Shopify in a research report on Thursday, July 16th. They set a neutral rating and a $998.00 price target on the stock. Pi Financial reaffirmed a buy rating and issued a $830.00 price objective on shares of Shopify in a research report on Monday, May 4th. Guggenheim reiterated a hold rating on shares of Shopify in a research note on Friday, July 24th. Finally, DA Davidson reissued a hold rating and set a $650.00 price objective on shares of Shopify in a report on Thursday, May 21st. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $927.71.
SHOP stock opened at $1,024.00 on Wednesday. The company has a market cap of $122.99 billion, a PE ratio of -1,678.66 and a beta of 1.61. The stock has a 50-day moving average price of $935.14 and a two-hundred day moving average price of $641.42. Shopify has a 12-month low of $282.08 and a 12-month high of $1,107.92.
A number of large investors have recently modified their holdings of the stock. Cetera Advisor Networks LLC boosted its stake in shares of Shopify by 0.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 2,707 shares of the software maker’s stock valued at $1,129,000 after buying an additional 14 shares during the period. Baldwin Investment Management LLC lifted its holdings in shares of Shopify by 1.1% during the 1st quarter. Baldwin Investment Management LLC now owns 1,516 shares of the software maker’s stock valued at $632,000 after buying an additional 16 shares during the last quarter. New Capital Management LP grew its stake in shares of Shopify by 180.0% in the 2nd quarter. New Capital Management LP now owns 28 shares of the software maker’s stock valued at $27,000 after buying an additional 18 shares in the last quarter. Asset Dedication LLC increased its holdings in Shopify by 20.0% in the first quarter. Asset Dedication LLC now owns 120 shares of the software maker’s stock worth $50,000 after buying an additional 20 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC lifted its stake in Shopify by 4.0% in the first quarter. Osborn Williams & Donohoe LLC now owns 525 shares of the software maker’s stock valued at $219,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 60.17% of the company’s stock.
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.
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