Shopify Inc. (NYSE:SHOP – Get Free Report) TSE: SHOP has been assigned an average rating of “Moderate Buy” from the thirty-seven analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $76.39.
A number of brokerages have recently commented on SHOP. Scotiabank dropped their target price on Shopify from $80.00 to $75.00 and set a “sector perform” rating for the company in a report on Thursday, May 9th. Wells Fargo & Company decreased their price target on Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Piper Sandler raised Shopify from an “underweight” rating to a “neutral” rating and set a $63.00 price target for the company in a research note on Thursday, May 9th. CIBC decreased their price target on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research note on Thursday, May 9th. Finally, Citigroup decreased their price target on Shopify from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, May 9th.
Shopify Price Performance
Shares of Shopify stock opened at $65.04 on Friday. The stock has a market cap of $83.81 billion, a price-to-earnings ratio of -382.56, a price-to-earnings-growth ratio of 3.26 and a beta of 2.27. 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 has a 50 day moving average price of $64.57 and a 200-day moving average price of $73.25. Shopify has a one year low of $45.50 and a one year high of $91.57.
Shopify (NYSE:SHOP – Get Free Report) TSE: SHOP last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Equities analysts expect that Shopify will post 0.61 EPS for the current year.
Institutional Trading of Shopify
Several large investors have recently added to or reduced their stakes in SHOP. GQG Partners LLC grew its stake in Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares during the last quarter. Norges Bank purchased a new stake in Shopify during the 4th quarter valued at about $1,049,089,000. Capital World Investors grew its stake in Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after purchasing an additional 5,982,434 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in Shopify by 214.5% during the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock valued at $224,492,000 after purchasing an additional 1,983,996 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.
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.