Shopify Inc. (NASDAQ:SHOP) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) has earned an average rating of “Moderate Buy” from the forty-nine brokerages that are currently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation, thirty-seven have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $177.28.

A number of equities research analysts recently commented on SHOP shares. BMO Capital Markets set a $165.00 price objective on shares of Shopify and gave the company an “outperform” rating in a research report on Thursday, August 6th. Canaccord Genuity Group set a $180.00 target price on Shopify and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Phillip Securities cut Shopify from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, August 17th. Benchmark increased their target price on Shopify from $145.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, DA Davidson set a $200.00 price target on Shopify and gave the company a “buy” rating in a report on Thursday, August 6th.

Shopify Stock Down 0.3%

SHOP stock opened at $168.18 on Tuesday. Shopify has a one year low of $94.00 and a one year high of $182.19. The stock has a market capitalization of $216.39 billion, a PE ratio of 113.64, a price-to-earnings-growth ratio of 3.48 and a beta of 2.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35. The company has a fifty day moving average of $151.11 and a 200-day moving average of $130.31.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 5th. The software maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. Shopify had a net margin of 14.53% and a return on equity of 12.58%. The business had revenue of $3.58 billion for the quarter. During the same period in the previous year, the firm earned $0.69 EPS. The firm’s revenue was up 33.7% on a year-over-year basis. As a group, analysts expect that Shopify will post 1.46 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Evolution Wealth Management Inc. lifted its holdings in Shopify by 203.9% in the first quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after acquiring an additional 155 shares during the period. Graney & King LLC purchased a new stake in shares of Shopify during the 1st quarter worth $27,000. Fortitude Family Office LLC acquired a new position in shares of Shopify during the 3rd quarter worth $29,000. Trellis Wealth Advisors LLC acquired a new position in shares of Shopify during the 3rd quarter worth $37,000. Finally, Roxbury Financial LLC grew its stake in shares of Shopify by 171.0% during the 3rd quarter. Roxbury Financial LLC now owns 271 shares of the software maker’s stock worth $40,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.