Shopify Inc. (NYSE:SHOP – Get Free Report) TSE: SHOP traded down 0.3% during mid-day trading on Thursday . The company traded as low as $58.04 and last traded at $59.12. 2,880,324 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 10,006,680 shares. The stock had previously closed at $59.27.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Robert W. Baird cut their target price on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Evercore raised Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Friday, June 14th. The Goldman Sachs Group boosted their price objective on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $74.00 to $85.00 in a research note on Friday, April 19th. Finally, Royal Bank of Canada decreased their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.62.
Shopify Stock Performance
The company has a market cap of $77.66 billion, a price-to-earnings ratio of -347.76, a price-to-earnings-growth ratio of 3.64 and a beta of 2.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The stock’s fifty day simple moving average is $62.96 and its two-hundred day simple moving average is $71.59.
Shopify (NYSE:SHOP – Get Free Report) TSE: SHOP last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Equities research analysts anticipate that Shopify Inc. will post 0.62 EPS for the current year.
Hedge Funds Weigh In On Shopify
A number of institutional investors have recently bought and sold shares of SHOP. Tradition Wealth Management LLC lifted its position in shares of Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Willis Johnson & Associates Inc. raised its position in shares of Shopify by 5.8% in the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in shares of Shopify by 3.2% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 4,839 shares of the software maker’s stock worth $377,000 after buying an additional 150 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Shopify by 11.4% during the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after buying an additional 152 shares during the period. Finally, Capital Advisors Inc. OK grew its stake in Shopify by 1.7% in the 4th quarter. Capital Advisors Inc. OK now owns 9,283 shares of the software maker’s stock valued at $723,000 after buying an additional 153 shares during 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.