Shopify (NYSE:SHOP) PT Raised to $850.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target raised by Roth Capital from $800.00 to $850.00 in a report published on Thursday, The Fly reports.

A number of other analysts have also commented on the stock. ValuEngine lowered shares of Shopify from a buy rating to a hold rating in a research note on Friday, May 1st. Loop Capital upped their price objective on shares of Shopify from $350.00 to $700.00 and gave the company a hold rating in a research note on Thursday, May 7th. Mizuho upped their price objective on shares of Shopify from $825.00 to $1,050.00 and gave the company a neutral rating in a research note on Thursday. They noted that the move was a valuation call. SunTrust Banks upped their price objective on shares of Shopify from $700.00 to $1,100.00 and gave the company a hold rating in a research note on Thursday. Finally, Royal Bank of Canada upped their price objective on shares of Shopify from $1,000.00 to $1,250.00 and gave the company an outperform rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, nineteen have given 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 target price of $927.71.

Shares of NYSE SHOP opened at $1,024.00 on Thursday. Shopify has a twelve month low of $282.08 and a twelve month high of $1,107.92. The company has a market capitalization of $120.08 billion, a price-to-earnings ratio of 14,628.57 and a beta of 1.61. The firm has a 50-day moving average of $935.14 and a two-hundred day moving average of $641.42.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, July 29th. The software maker reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $1.04. Shopify had a negative net margin of 3.25% and a positive return on equity of 0.32%. The company had revenue of $714.34 million during the quarter, compared to analyst estimates of $511.56 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 97.3% on a year-over-year basis. On average, sell-side analysts anticipate that Shopify will post -1.56 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its holdings in Shopify by 15.6% during the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock valued at $723,000 after purchasing an additional 472 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Shopify by 139.9% during the fourth quarter. Advisors Asset Management Inc. now owns 451 shares of the software maker’s stock valued at $179,000 after purchasing an additional 263 shares during the last quarter. Brinker Capital Inc. grew its holdings in Shopify by 46.4% during the fourth quarter. Brinker Capital Inc. now owns 1,536 shares of the software maker’s stock valued at $611,000 after purchasing an additional 487 shares during the last quarter. Geode Capital Management LLC grew its holdings in Shopify by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 139,648 shares of the software maker’s stock valued at $55,111,000 after purchasing an additional 18,851 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new position in Shopify during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 60.17% of the company’s stock.

About Shopify

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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