National Bankshares Trims Shopify (NYSE:SHOP) Target Price to $750.00

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) had its target price reduced by National Bankshares from $1,000.00 to $750.00 in a report issued on Friday morning, BayStreet.CA reports. National Bankshares currently has an outperform rating on the software maker’s stock.

A number of other equities analysts have also recently commented on SHOP. TheStreet cut Shopify from a b rating to a c+ rating in a report on Thursday, January 6th. Stifel Nicolaus reduced their price target on Shopify from $1,000.00 to $800.00 in a report on Monday, April 25th. Atlantic Securities cut Shopify from an overweight rating to a neutral rating in a report on Tuesday, January 11th. TD Securities reduced their price target on Shopify from $840.00 to $500.00 and set a hold rating for the company in a report on Friday. Finally, StockNews.com upgraded Shopify to a sell rating in a report on Thursday, April 21st. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of Hold and an average price target of $943.75.

Shares of NYSE:SHOP traded down $35.60 during midday trading on Friday, reaching $377.49. The company had a trading volume of 10,269,575 shares, compared to its average volume of 3,525,850. The company has a quick ratio of 12.15, a current ratio of 12.15 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average price is $591.74 and its 200 day moving average price is $1,014.20. The stock has a market cap of $47.53 billion, a PE ratio of 301.99 and a beta of 1.82. Shopify has a 1-year low of $355.13 and a 1-year high of $1,762.92.

Shares of Shopify are set to split on the morning of Wednesday, June 29th. The 10-1 split was announced on Monday, April 11th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, June 28th.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last released its earnings results on Thursday, May 5th. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.59. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.24 billion. Shopify had a return on equity of 4.38% and a net margin of 63.20%. Shopify’s quarterly revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.32 earnings per share. On average, research analysts expect that Shopify will post -2.04 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in SHOP. Norges Bank acquired a new position in Shopify during the fourth quarter valued at approximately $1,578,341,000. Capital Research Global Investors increased its holdings in shares of Shopify by 48.0% during the fourth quarter. Capital Research Global Investors now owns 2,105,757 shares of the software maker’s stock worth $2,900,449,000 after buying an additional 683,314 shares in the last quarter. Fortis Advisors LLC increased its holdings in shares of Shopify by 338,945.0% during the third quarter. Fortis Advisors LLC now owns 339,045 shares of the software maker’s stock worth $475,000 after buying an additional 338,945 shares in the last quarter. MFA Wealth Advisors LLC increased its holdings in shares of Shopify by 135,577.8% during the third quarter. MFA Wealth Advisors LLC now owns 324,270 shares of the software maker’s stock worth $324,000 after buying an additional 324,031 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Shopify by 568.0% during the first quarter. Fisher Asset Management LLC now owns 237,172 shares of the software maker’s stock worth $160,319,000 after buying an additional 201,665 shares in the last quarter. Institutional investors and hedge funds own 62.60% of the company’s stock.

Shopify Company Profile (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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