Citigroup upgraded shares of Shopify (NYSE:SHOP – Free Report) TSE: SHOP from a neutral rating to a buy rating in a research note released on Monday, MarketBeat.com reports. The firm currently has $105.00 price target on the software maker’s stock, up from their previous price target of $93.00.
Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated an outperform rating and issued a $100.00 target price on shares of Shopify in a research report on Wednesday, February 14th. The Goldman Sachs Group raised their target price on shares of Shopify from $67.00 to $75.00 and gave the stock a neutral rating in a research note on Thursday, February 29th. National Bankshares upped their price target on Shopify from $80.00 to $100.00 and gave the company an outperform rating in a research report on Friday, January 26th. Barclays cut their price target on Shopify from $70.00 to $68.00 and set an equal weight rating for the company in a report on Wednesday, February 14th. Finally, Loop Capital lowered their price objective on Shopify from $90.00 to $80.00 and set a hold rating on the stock in a research note on Monday, April 15th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Shopify has a consensus rating of Hold and an average price target of $78.62.
Shopify Stock Up 1.6 %
NYSE:SHOP traded up $1.13 during mid-day trading on Monday, hitting $72.46. 10,103,827 shares of the company’s stock traded hands, compared to its average volume of 9,347,372. The company has a fifty day moving average of $75.28 and a 200 day moving average of $72.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. Shopify has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a market capitalization of $93.22 billion, a P/E ratio of 808.56 and a beta of 2.22.
Shopify (NYSE:SHOP – Get Free Report) TSE: SHOP last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. On average, analysts forecast that Shopify will post 0.58 EPS for the current year.
Institutional Investors Weigh In On Shopify
Several large investors have recently bought and sold shares of the stock. Private Wealth Management Group LLC acquired a new position in shares of Shopify during the fourth quarter worth $26,000. SJS Investment Consulting Inc. raised its stake in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares in the last quarter. DSM Capital Partners LLC purchased a new stake in Shopify in the fourth quarter valued at $28,000. Jones Financial Companies Lllp acquired a new position in Shopify in the fourth quarter valued at $28,000. Finally, Your Advocates Ltd. LLP boosted its stake in Shopify by 4,344.4% in 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 in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.
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.