Shopify Inc. (NYSE:SHOP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have earned an average recommendation of “Hold” from the thirty-seven analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $79.00.

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of Shopify in a report on Wednesday, February 14th. Wells Fargo & Company lowered their target price on Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Scotiabank upped their target price on shares of Shopify from $70.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd. Finally, ATB Capital raised their price target on Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th.

Shopify Trading Down 0.4 %

Shares of Shopify stock opened at $77.06 on Friday. The firm’s 50 day moving average is $74.74 and its 200 day moving average is $73.78. The firm has a market capitalization of $99.14 billion, a PE ratio of 856.32 and a beta of 2.20. Shopify has a 1 year low of $45.50 and a 1 year high of $91.57. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Equities research analysts forecast that Shopify will post 0.59 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Several hedge funds have recently made changes to their positions in SHOP. Private Wealth Management Group LLC purchased a new stake in Shopify during the fourth quarter worth about $26,000. SJS Investment Consulting Inc. boosted its holdings in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. DSM Capital Partners LLC acquired a new position in shares of Shopify during the 4th quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in Shopify during the fourth quarter worth $28,000. Finally, Your Advocates Ltd. LLP lifted its holdings in shares of Shopify by 4,344.4% in the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.