Shopify (NYSE:SHOP) Upgraded by Deutsche Bank Aktiengesellschaft to “Buy”

Deutsche Bank Aktiengesellschaft upgraded shares of Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) from a hold rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage currently has $50.00 target price on the software maker’s stock, up from their prior target price of $40.00.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley boosted their price target on shares of Shopify from $40.00 to $42.00 and gave the stock an equal weight rating in a research report on Friday, October 28th. CIBC raised shares of Shopify from a neutral rating to a sector outperform rating in a report on Tuesday, December 6th. Capital One Financial started coverage on shares of Shopify in a report on Thursday, December 8th. They issued an equal weight rating on the stock. Royal Bank of Canada dropped their target price on shares of Shopify from $60.00 to $55.00 and set an outperform rating on the stock in a report on Friday, October 21st. Finally, KeyCorp dropped their target price on shares of Shopify from $50.00 to $45.00 and set an overweight rating on the stock in a report on Monday, October 24th. Three analysts have rated the stock with a sell rating, twenty-one have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Shopify presently has a consensus rating of Hold and a consensus target price of $56.08.

Shopify Price Performance

Shares of NYSE SHOP opened at $44.04 on Monday. The firm has a market cap of $55.62 billion, a PE ratio of -17.37 and a beta of 1.93. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 0.15. Shopify has a 1-year low of $23.63 and a 1-year high of $98.85. The company has a fifty day moving average price of $37.44 and a 200 day moving average price of $34.52.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last issued its quarterly earnings results on Thursday, October 27th. The software maker reported ($0.14) EPS 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 firm 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 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Several large investors have recently made changes to their positions in SHOP. Baillie Gifford & Co. lifted its stake in Shopify by 13.1% in the 3rd quarter. Baillie Gifford & Co. now owns 64,511,049 shares of the software maker’s stock valued at $1,737,944,000 after purchasing an additional 7,465,746 shares during the last quarter. Vanguard Group Inc. lifted its stake in Shopify by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 38,491,544 shares of the software maker’s stock valued at $1,036,963,000 after purchasing an additional 1,198,494 shares during the last quarter. Sands Capital Management LLC lifted its stake in Shopify by 1,007.4% in the 2nd quarter. Sands Capital Management LLC now owns 23,560,742 shares of the software maker’s stock valued at $736,038,000 after purchasing an additional 21,433,161 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in Shopify by 1,170.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 15,731,416 shares of the software maker’s stock valued at $491,450,000 after purchasing an additional 14,493,237 shares during the last quarter. Finally, WCM Investment Management LLC lifted its stake in Shopify by 715.9% in the 2nd quarter. WCM Investment Management LLC now owns 14,775,238 shares of the software maker’s stock valued at $488,322,000 after purchasing an additional 12,964,310 shares during the last quarter. Institutional investors and hedge funds own 56.31% of the company’s stock.

About Shopify

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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.