Shopify Inc. (NYSE:SHOP) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) have been assigned a consensus rating of “Hold” from the forty-one ratings firms that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $54.95.

Several research firms recently weighed in on SHOP. CIBC upgraded shares of Shopify from a “neutral” rating to a “sector outperform” rating in a report on Tuesday, December 6th. DA Davidson reiterated a “neutral” rating on shares of Shopify in a research note on Thursday. Moffett Nathanson started coverage on shares of Shopify in a research note on Tuesday, November 15th. They issued a “market perform” rating and a $30.00 target price on the stock. Loop Capital boosted their target price on shares of Shopify from $33.00 to $36.00 in a research note on Thursday. Finally, TD Securities boosted their target price on shares of Shopify from $35.00 to $38.00 and gave the company a “hold” rating in a research note on Friday, October 28th.

Shopify Stock Up 5.8 %

Shopify stock opened at $38.89 on Friday. Shopify has a fifty-two week low of $23.63 and a fifty-two week high of $112.25. The stock has a market cap of $49.11 billion, a PE ratio of -15.34 and a beta of 1.93. The firm’s 50-day simple moving average is $36.84 and its 200 day simple moving average is $36.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.64 and a current ratio of 6.64.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its quarterly earnings results on Thursday, October 27th. The software maker reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. Shopify had a negative net margin of 61.17% and a negative return on equity of 3.82%. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Research analysts predict that Shopify will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Hedge funds have recently added to or reduced their stakes in the company. Industrial Alliance Investment Management Inc. lifted its stake in Shopify by 292.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock worth $74,000 after purchasing an additional 82 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Shopify in the first quarter worth about $90,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Shopify in the first quarter worth about $148,000. Fairfield Bush & CO. purchased a new position in shares of Shopify in the first quarter worth about $169,000. Finally, First Manhattan Co. increased its holdings in shares of Shopify by 317.5% in the first quarter. First Manhattan Co. now owns 263 shares of the software maker’s stock worth $177,000 after buying an additional 200 shares during the period. Institutional investors own 56.31% 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.