Shopify Inc. (NYSE:SHOP) Receives Average Recommendation of “Hold” from Analysts

Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) has been assigned an average recommendation of “Hold” from the forty-one brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $925.06.

SHOP has been the subject of several recent research reports. TD Securities lowered their price objective on shares of Shopify from $840.00 to $500.00 and set a “hold” rating for the company in a research report on Friday, May 6th. Veritas Investment Research cut Shopify from a “buy” rating to a “sell” rating in a research note on Thursday, May 5th. Wolfe Research reduced their target price on Shopify from $1,500.00 to $1,100.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. Morgan Stanley reduced their target price on Shopify from $1,150.00 to $1,075.00 and set an “equal weight” rating for the company in a research note on Thursday, February 17th. Finally, Evercore ISI reduced their target price on Shopify from $1,770.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th.

Shares of NYSE:SHOP opened at $398.87 on Friday. The company has a quick ratio of 11.84, a current ratio of 11.84 and a debt-to-equity ratio of 0.12. Shopify has a 52-week low of $308.06 and a 52-week high of $1,762.92. The company has a 50 day moving average of $493.64 and a two-hundred day moving average of $873.06. The company has a market capitalization of $50.22 billion, a price-to-earnings ratio of 319.10 and a beta of 1.83.

Shopify’s stock is set to split before the market opens on Wednesday, June 29th. The 10-1 split was announced on Monday, April 11th. The newly minted shares will be issued to shareholders after the market closes on Tuesday, June 28th.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last issued its quarterly earnings data on Thursday, May 5th. The software maker reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.59. Shopify had a net margin of 3.77% and a return on equity of 1.94%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $1.32 earnings per share. Shopify’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities analysts anticipate that Shopify will post -2.05 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Jennison Associates LLC increased its holdings in shares of Shopify by 1.4% during the fourth quarter. Jennison Associates LLC now owns 4,696,965 shares of the software maker’s stock valued at $6,469,553,000 after purchasing an additional 65,144 shares during the period. Capital World Investors increased its holdings in shares of Shopify by 2.0% during the fourth quarter. Capital World Investors now owns 4,489,765 shares of the software maker’s stock valued at $6,184,252,000 after purchasing an additional 90,070 shares during the period. Vanguard Group Inc. grew its holdings in Shopify by 3.3% during the first quarter. Vanguard Group Inc. now owns 3,648,146 shares of the software maker’s stock worth $2,466,000,000 after acquiring an additional 115,860 shares during the period. Capital Research Global Investors grew its holdings in Shopify by 43.0% during the first quarter. Capital Research Global Investors now owns 3,012,007 shares of the software maker’s stock worth $2,036,179,000 after acquiring an additional 906,250 shares during the period. Finally, Sands Capital Management LLC grew its holdings in Shopify by 51.7% during the first quarter. Sands Capital Management LLC now owns 2,127,581 shares of the software maker’s stock worth $1,438,160,000 after acquiring an additional 724,767 shares during the period. 62.60% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Shopify (NYSE:SHOP)

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