Shopify (NYSE:SHOP) Coverage Initiated by Analysts at TD Securities

Equities research analysts at TD Securities began coverage on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report issued on Thursday, The Fly reports. The brokerage set a “hold” rating on the software maker’s stock.

Other analysts have also recently issued reports about the company. DA Davidson raised their price target on Shopify from $1,275.00 to $1,450.00 and gave the company a “neutral” rating in a report on Thursday, July 29th. Barclays lifted their price objective on Shopify from $1,340.00 to $1,700.00 and gave the stock an “equal weight” rating in a report on Monday, June 28th. Roth Capital lifted their price objective on Shopify from $1,750.00 to $1,800.00 and gave the stock a “buy” rating in a report on Thursday, July 29th. Loop Capital lifted their price objective on Shopify from $1,400.00 to $1,600.00 and gave the stock a “buy” rating in a report on Wednesday, June 30th. Finally, Oppenheimer raised their price target on Shopify from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $1,635.59.

SHOP opened at $1,398.97 on Thursday. The business’s 50-day simple moving average is $1,465.16 and its 200-day simple moving average is $1,359.17. The company has a market cap of $174.54 billion, a P/E ratio of 72.22, a PEG ratio of 13.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 16.55 and a current ratio of 16.55. Shopify has a one year low of $875.00 and a one year high of $1,650.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Wednesday, July 28th. The software maker reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $2.01. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.04 billion. Shopify had a return on equity of 7.15% and a net margin of 63.65%. As a group, analysts predict that Shopify will post 3.95 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Shopify by 2.4% during the second quarter. Vanguard Group Inc. now owns 3,348,876 shares of the software maker’s stock worth $4,892,640,000 after purchasing an additional 78,123 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Shopify by 2.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,851,069 shares of the software maker’s stock worth $4,165,776,000 after purchasing an additional 79,031 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of Shopify by 0.8% during the second quarter. WCM Investment Management LLC now owns 2,002,071 shares of the software maker’s stock worth $2,924,986,000 after purchasing an additional 16,854 shares in the last quarter. ARK Investment Management LLC lifted its stake in shares of Shopify by 13.6% in the second quarter. ARK Investment Management LLC now owns 1,219,318 shares of the software maker’s stock worth $1,781,399,000 after acquiring an additional 145,795 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Shopify by 6.9% in the first quarter. Bank of Montreal Can now owns 1,112,772 shares of the software maker’s stock worth $1,360,576,000 after acquiring an additional 72,008 shares in the last quarter. Institutional investors own 60.06% of the company’s stock.

Shopify Company Profile

Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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