Shopify Inc. (NYSE:SHOP) Given Consensus Recommendation of “Hold” by Analysts

Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) has received an average rating of “Hold” from the thirty-nine analysts that are presently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $47.73.

Several analysts recently weighed in on the company. Piper Sandler upped their price objective on Shopify from $36.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Credit Suisse Group raised their price target on shares of Shopify from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Shopify from $50.00 to $55.00 in a research report on Thursday, February 16th. TD Securities raised their target price on shares of Shopify from $38.00 to $47.00 and gave the company a “hold” rating in a research report on Thursday, February 16th. Finally, Loop Capital upped their price target on shares of Shopify from $33.00 to $36.00 in a report on Thursday, January 12th.

Hedge Funds Weigh In On Shopify

Several institutional investors have recently added to or reduced their stakes in the business. James Investment Research Inc. bought a new stake in shares of Shopify in the 4th quarter valued at $26,000. Trust Co. of Vermont raised its holdings in shares of Shopify by 950.0% during the third quarter. Trust Co. of Vermont now owns 1,050 shares of the software maker’s stock valued at $28,000 after purchasing an additional 950 shares during the period. Pinnacle Financial Partners Inc. bought a new position in shares of Shopify during the 3rd quarter worth about $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the 3rd quarter valued at about $28,000. Finally, Mach 1 Financial Group LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at about $28,000. 56.31% of the stock is owned by institutional investors and hedge funds.

Shopify Price Performance

SHOP stock opened at $43.40 on Friday. The company’s 50-day moving average price is $42.53 and its two-hundred day moving average price is $36.53. The firm has a market cap of $54.81 billion, a P/E ratio of -15.90 and a beta of 2.04. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.17. Shopify has a 12 month low of $23.63 and a 12 month high of $78.00.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, February 15th. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. Shopify had a negative net margin of 61.79% and a negative return on equity of 5.62%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.64 billion. On average, analysts anticipate that Shopify will post -0.48 earnings per share for the current fiscal year.

Shopify Company Profile

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Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.