Royal Bank Of Canada Reiterates Hold Rating for Shopify Inc. (SHOP)

Shopify Inc. (NYSE:SHOP) (TSE:SH)‘s stock had its “hold” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Tuesday. They currently have a $99.00 price objective on the software maker’s stock. Royal Bank Of Canada’s price target points to a potential upside of 4.19% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Wedbush reissued an “ourperform” rating on shares of Shopify in a research report on Wednesday, August 2nd. Robert W. Baird reissued a “buy” rating and issued a $110.00 price objective on shares of Shopify in a research report on Friday, September 29th. SunTrust Banks, Inc. started coverage on shares of Shopify in a research report on Monday, June 26th. They issued a “hold” rating and a $90.00 price objective for the company. BidaskClub cut shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Shopify in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twenty-one have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $95.51.

Shopify (NYSE SHOP) opened at 95.02 on Tuesday. The stock’s 50 day moving average is $113.21 and its 200 day moving average is $113.21. The company’s market capitalization is $9.36 billion. Shopify has a 52 week low of $37.74 and a 52 week high of $123.94.

Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The firm had revenue of $151.70 million during the quarter, compared to analysts’ expectations of $143.94 million. During the same period in the previous year, the company earned ($0.04) EPS. The firm’s revenue for the quarter was up 75.2% compared to the same quarter last year. On average, equities research analysts expect that Shopify will post ($0.04) earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Nadler Financial Group Inc. raised its position in shares of Shopify by 0.9% in the second quarter. Nadler Financial Group Inc. now owns 3,033 shares of the software maker’s stock valued at $264,000 after buying an additional 28 shares during the last quarter. Private Advisory Group LLC raised its position in shares of Shopify by 3.9% in the second quarter. Private Advisory Group LLC now owns 4,391 shares of the software maker’s stock valued at $382,000 after buying an additional 164 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Shopify by 26.6% in the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after buying an additional 298 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Shopify by 2.1% in the second quarter. Tocqueville Asset Management L.P. now owns 19,200 shares of the software maker’s stock valued at $1,668,000 after buying an additional 400 shares during the last quarter. Finally, State of Tennessee Treasury Department raised its position in shares of Shopify by 1.2% in the second quarter. State of Tennessee Treasury Department now owns 46,703 shares of the software maker’s stock valued at $4,058,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 53.77% of the company’s stock.

Shopify 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.

Analyst Recommendations for Shopify (NYSE:SHOP)

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