Shopify (NYSE:SHOP) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research note published on Monday, Benzinga reports. Cantor Fitzgerald currently has a $70.00 price objective on the software maker’s stock.

A number of other equities research analysts have also weighed in on the stock. DZ Bank lowered shares of Shopify from a hold rating to a sell rating in a report on Friday, August 9th. Royal Bank of Canada reiterated an outperform rating and issued a $85.00 price target on shares of Shopify in a report on Thursday, August 8th. JMP Securities restated a market outperform rating and set a $80.00 price objective on shares of Shopify in a report on Tuesday, September 10th. Argus upgraded Shopify to a strong-buy rating in a report on Thursday, August 8th. Finally, Truist Financial cut their price target on Shopify from $65.00 to $55.00 and set a hold rating on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $77.92.

Shopify Trading Up 1.9 %

Shares of NYSE SHOP opened at $80.77 on Monday. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The company has a market cap of $104.09 billion, a price-to-earnings ratio of -475.00, a PEG ratio of 2.68 and a beta of 2.35. The business’s 50 day moving average price is $69.23 and its 200-day moving average price is $68.48.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business’s revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) earnings per share. On average, sell-side analysts expect that Shopify will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

A number of institutional investors and hedge funds have recently modified their holdings of SHOP. GQG Partners LLC raised its position in Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after buying an additional 13,885,473 shares during the last quarter. Capital World Investors raised its holdings in shares of Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after purchasing an additional 5,982,434 shares during the period. Mackenzie Financial Corp boosted its holdings in Shopify by 49.9% in the second quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after purchasing an additional 2,102,939 shares during the last quarter. Finally, Toronto Dominion Bank grew its position in Shopify by 214.5% during the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock worth $224,492,000 after purchasing an additional 1,983,996 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

About Shopify

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.