Wedbush Reaffirms Neutral Rating for Shopify (NYSE:SHOP)

Wedbush restated their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report report published on Tuesday morning,RTT News reports. They currently have a $115.00 price target on the software maker’s stock, up from their prior price target of $72.00.

Other analysts have also issued reports about the company. Evercore boosted their target price on Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. UBS Group boosted their price objective on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Citigroup increased their target price on shares of Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Robert W. Baird boosted their price target on shares of Shopify from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley raised their price objective on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify Price Performance

SHOP opened at $109.08 on Tuesday. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The firm has a 50-day moving average of $80.36 and a 200 day moving average of $70.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10. The firm has a market cap of $140.76 billion, a P/E ratio of 101.94, a PEG ratio of 3.71 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, research analysts expect that Shopify will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. Capital World Investors raised its position in Shopify by 26.2% in the 1st 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 period. Vanguard Group Inc. lifted its stake in Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares during the last quarter. FMR LLC boosted its position in Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of 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 buying an additional 5,982,434 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

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.