Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) The price target was raised by Roth Mkm from $77.00 to $79.00 in a research note published on Thursday, Benzinga reports. Roth Mkm currently has a buy rating on the software maker’s stock.
A number of other research firms also recently commented on SHOP. Robert W. Baird decreased their price target on Shopify from $87.00 to $77.00 and gave the stock an outperform rating in a research report on Thursday, May 9th. Morgan Stanley raised their price target on Shopify from $80.00 to $85.00 and gave the company an overweight rating in a research report on Thursday. Atb Cap Markets upgraded Shopify from a sector perform rating to an outperform rating in a report on Wednesday, May 8th. Loop Capital decreased their price target on Shopify from $90.00 to $80.00 and gave the stock a hold rating in a report on Monday, April 15th. Finally, Mizuho decreased their price target on Shopify from $75.00 to $65.00 and gave the stock a neutral rating in a report on Thursday, May 9. One equities analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $77.24.
Read our latest stock analysis in the SHOP
Shopify price history
NYSE SHOP rose $0.75 during trading hours on Thursday, reaching $69.30. 10,931,244 shares traded hands, compared to an average volume of 10,422,090. The stock has a 50-day moving average of $63.43 and a 200-day moving average of $69.89. Shopify has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14, and a quick ratio of 7.14. The company has a market cap of $89.31 billion, a price-to-earnings ratio of -407.65, a price-to-earnings-growth ratio of 3.14, and a beta of 2.30.
Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) last released its quarterly earnings results on Wednesday, August 7. The software maker reported earnings per share of $0.26 for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company posted revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. In the same quarter last year, the company posted earnings per share of ($0.08). The company’s revenue for the quarter grew 20.7% year-over-year. On average, analysts forecast that Shopify will report earnings per share of $0.62 for the current fiscal year.
Institutional trading with Shopify
Several hedge funds have recently made changes to their positions in SHOP. GQG Partners LLC increased its position in shares of Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Norges Bank acquired a new position in Shopify in the 4th quarter valued at about $1,049,089,000. Capital World Investors increased its stake 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 acquiring an additional 10,340,040 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after acquiring an additional 5,982,434 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Shopify by 214.5% in the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock worth $224,492,000 after acquiring an additional 1,983,996 shares in the last quarter. 69.27% of the shares are owned by institutional investors.
About Shopify
(Get free report)
Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, Asia Pacific, Australia, China, and Latin America. The Company’s platform enables merchants to display, manage, market, and sell their 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. It enables managing products and inventory, processing orders and payments, fulfilling and shipping orders, acquiring new buyers and building customer relationships, sourcing products, using analytics and reports, managing cash, payments and transactions, and accessing financing.
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