Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) had its price objective dropped by equities research analysts at Citigroup from $534.00 to $432.00 in a note issued to investors on Friday, The Fly reports. Citigroup’s price target would suggest a potential upside of 4.58% from the company’s current price.
Several other research firms have also commented on SHOP. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Shopify from $900.00 to $550.00 in a report on Monday. Morgan Stanley lowered their price target on shares of Shopify from $1,150.00 to $1,075.00 and set an “equal weight” rating on the stock in a report on Thursday, February 17th. Evercore ISI lowered their price target on shares of Shopify from $1,770.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Thursday, February 17th. Piper Sandler lowered their target price on shares of Shopify from $900.00 to $800.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 19th. Finally, Sumitomo Mitsui Financial Group assumed coverage on shares of Shopify in a research note on Thursday, January 27th. They set an “outperform” rating and a $1,200.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $981.70.
NYSE SHOP opened at $413.09 on Friday. Shopify has a 1 year low of $395.86 and a 1 year high of $1,762.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 12.15 and a quick ratio of 12.15. The company has a market cap of $52.01 billion, a price-to-earnings ratio of 18.05 and a beta of 1.82. The stock’s fifty day moving average price is $598.07 and its 200 day moving average price is $1,021.89.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last posted its quarterly earnings results on Thursday, May 5th. The software maker reported $0.20 EPS for the quarter, beating the consensus estimate of ($0.39) by $0.59. Shopify had a net margin of 63.20% and a return on equity of 4.38%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the company earned $1.32 earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis. Research analysts expect that Shopify will post -2.04 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the business. HighMark Wealth Management LLC acquired a new stake in Shopify in the 4th quarter valued at about $25,000. Blue Bell Private Wealth Management LLC acquired a new stake in Shopify in the 4th quarter valued at about $25,000. D Orazio & Associates Inc. raised its holdings in Shopify by 533.3% in the 3rd quarter. D Orazio & Associates Inc. now owns 19 shares of the software maker’s stock valued at $26,000 after acquiring an additional 16 shares during the last quarter. Western Pacific Wealth Management LP acquired a new stake in Shopify in the 4th quarter valued at about $26,000. Finally, Stonebridge Capital Advisors LLC raised its holdings in Shopify by 35.3% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 23 shares of the software maker’s stock valued at $31,000 after acquiring an additional 6 shares during the last quarter. Institutional investors own 62.60% of the company’s stock.
About Shopify (Get Rating)
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.
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