Shopify (NYSE:SHOP) Receives “Hold” Rating from Benchmark

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “hold” rating reaffirmed by investment analysts at Benchmark in a report released on Tuesday, Benzinga reports.

Other equities analysts have also issued research reports about the company. Wedbush reaffirmed a “neutral” rating and set a $68.00 price target on shares of Shopify in a research note on Tuesday, February 13th. Citigroup upgraded Shopify from a “neutral” rating to a “buy” rating and upped their price objective for the company from $93.00 to $105.00 in a report on Monday, April 29th. The Goldman Sachs Group raised their target price on Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. UBS Group increased their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Shopify presently has a consensus rating of “Hold” and an average target price of $79.00.

Shopify Price Performance

Shares of SHOP stock opened at $77.39 on Tuesday. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a market capitalization of $99.57 billion, a P/E ratio of 859.98 and a beta of 2.20. The stock has a 50 day moving average of $74.73 and a two-hundred day moving average of $73.60. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, equities analysts expect that Shopify will post 0.59 EPS for the current year.

Institutional Trading of Shopify

Several hedge funds and other institutional investors have recently made changes to their positions in SHOP. Baillie Gifford & Co. raised its position in Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Shopify by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock worth $3,284,910,000 after acquiring an additional 1,242,067 shares during the period. Capital World Investors boosted its holdings in Shopify by 28.7% in the fourth quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock valued at $3,071,197,000 after acquiring an additional 8,789,411 shares during the last quarter. Capital International Investors increased its position in Shopify by 9.7% during the 4th quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock valued at $1,235,534,000 after purchasing an additional 1,399,562 shares during the period. Finally, Norges Bank acquired a new stake in Shopify during the 4th quarter valued at approximately $1,049,089,000. 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.