SHOP has been the topic of several other research reports. Benchmark raised Shopify to a hold rating in a research report on Thursday, June 23rd. Royal Bank of Canada decreased their price target on Shopify from $100.00 to $80.00 and set an outperform rating on the stock in a research note on Friday, May 6th. Credit Suisse Group decreased their price target on Shopify to $41.00 in a research note on Friday, July 22nd. Wedbush decreased their price target on Shopify from $63.00 to $53.80 in a research note on Monday, May 9th. Finally, Roth Capital decreased their price target on Shopify from $85.00 to $62.50 in a research note on Thursday, April 21st. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $83.55.
Shopify Stock Performance
Shares of Shopify stock opened at $31.55 on Tuesday. The business has a 50-day moving average of $41.00 and a 200 day moving average of $58.99. Shopify has a 12 month low of $29.72 and a 12 month high of $176.29. The stock has a market capitalization of $39.72 billion, a price-to-earnings ratio of 252.40 and a beta of 1.84. The company has a debt-to-equity ratio of 0.12, a current ratio of 11.84 and a quick ratio of 11.84.
Institutional Investors Weigh In On Shopify
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP acquired a new stake in Shopify during the fourth quarter worth about $26,000. Amplius Wealth Advisors LLC acquired a new stake in Shopify during the fourth quarter worth about $31,000. Parkside Financial Bank & Trust increased its stake in Shopify by 666.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 23 shares of the software maker’s stock worth $32,000 after acquiring an additional 20 shares during the last quarter. PYA Waltman Capital LLC acquired a new stake in Shopify during the fourth quarter worth about $47,000. Finally, Carolinas Wealth Consulting LLC acquired a new stake in Shopify during the fourth quarter worth about $50,000. 62.60% of the stock is currently owned by institutional investors and hedge funds.
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, 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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