Shopify Inc. (NYSE:SHOP) Receives Average Rating of “Moderate Buy” from Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been assigned a consensus recommendation of “Moderate Buy” from the forty brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $77.11.

A number of research analysts have issued reports on the stock. Citigroup cut their price target on shares of Shopify from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company upped their price target on shares of Shopify from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Truist Financial cut their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Bank of America upgraded shares of Shopify from a “neutral” rating to a “buy” rating and upped their price target for the company from $78.00 to $82.00 in a research note on Tuesday, July 16th.

Institutional Investors Weigh In On Shopify

Several hedge funds and other institutional investors have recently bought and sold shares of SHOP. Private Wealth Management Group LLC acquired a new stake in shares of Shopify during the fourth quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group increased its position in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. DSM Capital Partners LLC acquired a new stake in shares of Shopify during the fourth quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify during the fourth quarter valued at about $28,000. Finally, Your Advocates Ltd. LLP increased its position in shares of Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after acquiring an additional 391 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Trading Up 1.7 %

NYSE:SHOP opened at $68.13 on Thursday. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The firm has a 50 day moving average of $67.06 and a 200 day moving average of $68.46. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $87.80 billion, a price-to-earnings ratio of -400.76, a PEG ratio of 2.25 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. Shopify’s revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Shopify will post 0.76 earnings per share for the current fiscal year.

About Shopify

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.