Shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) have been given a consensus recommendation of “Hold” by the forty-one research firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $52.14.
Several equities research analysts recently commented on SHOP shares. Truist Financial boosted their price objective on shares of Shopify from $35.00 to $41.00 and gave the stock a “hold” rating in a research note on Thursday, January 19th. KeyCorp dropped their price objective on shares of Shopify from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, October 24th. Wolfe Research lowered shares of Shopify from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, December 7th. William Blair reissued an “outperform” rating on shares of Shopify in a research note on Wednesday, January 25th. Finally, Mizuho upped their target price on shares of Shopify from $33.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, December 8th.
Hedge Funds Weigh In On Shopify
Hedge funds and other institutional investors have recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. boosted its position in shares of Shopify by 292.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock worth $74,000 after acquiring an additional 82 shares during the last quarter. Turim 21 Investimentos Ltda. bought a new position in shares of Shopify during the first quarter worth $148,000. Fairfield Bush & CO. bought a new position in shares of Shopify during the first quarter worth $169,000. First Manhattan Co. lifted its position in Shopify by 317.5% during the first quarter. First Manhattan Co. now owns 263 shares of the software maker’s stock valued at $177,000 after purchasing an additional 200 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in Shopify by 508.2% during the first quarter. Stonebridge Capital Advisors LLC now owns 298 shares of the software maker’s stock valued at $201,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 56.31% of the company’s stock.
Shopify Trading Down 0.4 %
Shares of SHOP opened at $51.35 on Wednesday. The firm’s 50-day moving average price is $39.87 and its 200-day moving average price is $35.60. The firm has a market capitalization of $64.85 billion, a price-to-earnings ratio of -20.26 and a beta of 1.98. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.15. Shopify has a 1-year low of $23.63 and a 1-year high of $93.25.
Shopify Company Profile
Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.