Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP)‘s stock had its “buy” rating reissued by stock analysts at Canaccord Genuity in a note issued to investors on Friday, February 16th. They presently have a $155.00 price objective on the software maker’s stock, up from their prior price objective of $115.00. Canaccord Genuity’s price objective suggests a potential upside of 5.98% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Vetr downgraded shares of Shopify Inc (US) from a “buy” rating to a “hold” rating and set a $130.32 price objective for the company. in a research report on Monday, January 29th. BidaskClub raised shares of Shopify Inc (US) from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Morgan Stanley raised their price target on shares of Shopify Inc (US) from $116.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. Monness Crespi & Hardt raised shares of Shopify Inc (US) from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Friday, October 27th. Finally, National Bank Financial raised their price target on shares of Shopify Inc (US) from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Shopify Inc (US) presently has a consensus rating of “Buy” and an average price target of $120.07.
Shares of Shopify Inc (NYSE SHOP) traded up $0.93 during midday trading on Friday, reaching $146.25. 971,475 shares of the company were exchanged, compared to its average volume of 2,120,000. The firm has a market cap of $14,520.00 and a PE ratio of -348.21. Shopify Inc has a 12-month low of $63.08 and a 12-month high of $150.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.83 and a current ratio of 10.82.
Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Thursday, February 15th. The software maker reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.09. The business had revenue of $222.80 million for the quarter, compared to analyst estimates of $209.70 million. Shopify Inc (US) had a negative net margin of 1.34% and a negative return on equity of 1.20%. Shopify Inc (US)’s revenue was up 70.9% on a year-over-year basis. analysts predict that Shopify Inc will post -0.8 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. Balentine LLC purchased a new position in Shopify Inc (US) in the 4th quarter worth about $101,000. Advisory Services Network LLC grew its stake in Shopify Inc (US) by 26.6% during the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after acquiring an additional 298 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new position in Shopify Inc (US) during the 4th quarter valued at about $152,000. US Bancorp DE grew its stake in Shopify Inc (US) by 63.8% during the 4th quarter. US Bancorp DE now owns 1,889 shares of the software maker’s stock valued at $191,000 after acquiring an additional 736 shares in the last quarter. Finally, Fisher Asset Management LLC purchased a new position in Shopify Inc (US) during the 3rd quarter valued at about $233,000. 56.08% of the stock is currently owned by hedge funds and other institutional investors.
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Shopify Inc (US) Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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