Shopify Inc. (SHOP) PT Set at $116.00 by KeyCorp

Shopify Inc. (NYSE:SHOP) (TSE:SH) has been assigned a $116.00 price objective by research analysts at KeyCorp in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the software maker’s stock. KeyCorp’s price target would indicate a potential upside of 22.93% from the company’s current price.

SHOP has been the topic of a number of other reports. Vetr downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.99 price objective on the stock. in a report on Thursday, June 22nd. Piper Jaffray Companies reaffirmed a “buy” rating and set a $110.00 price objective on shares of Shopify in a report on Friday, October 6th. BidaskClub downgraded shares of Shopify from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Macquarie lifted their price objective on shares of Shopify from $121.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, September 20th. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of Shopify in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $95.51.

Shopify (NYSE:SHOP) opened at 94.36 on Wednesday. The firm’s market cap is $9.30 billion. Shopify has a one year low of $37.74 and a one year high of $123.94. The company’s 50-day moving average is $112.43 and its 200 day moving average is $112.43.

Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $151.70 million during the quarter, compared to the consensus estimate of $143.94 million. During the same quarter last year, the firm posted ($0.04) EPS. Shopify’s revenue was up 75.2% compared to the same quarter last year. Equities analysts anticipate that Shopify will post ($0.04) earnings per share for the current year.

WARNING: “Shopify Inc. (SHOP) PT Set at $116.00 by KeyCorp” was originally published by Markets Daily and is the property of of Markets Daily. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://www.themarketsdaily.com/2017/10/13/shopify-inc-shop-pt-set-at-116-00-by-keycorp.html.

Institutional investors and hedge funds have recently made changes to their positions in the company. Seven Bridges Advisors LLC bought a new stake in shares of Shopify during the second quarter valued at about $120,000. Advisory Services Network LLC increased its position in shares of Shopify by 26.6% during 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 period. FNY Partners Fund LP bought a new stake in shares of Shopify during the first quarter valued at about $102,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Shopify during the second quarter valued at about $135,000. Finally, SG Americas Securities LLC bought a new stake in shares of Shopify during the first quarter valued at about $116,000. Hedge funds and other institutional investors 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)

Receive News & Ratings for Shopify Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply