Shopify (NYSE:SHOP) PT Lowered to $80.00 at Loop Capital

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target cut by Loop Capital from $90.00 to $80.00 in a research note published on Monday, Benzinga reports. They currently have a hold rating on the software maker’s stock.

A number of other brokerages have also commented on SHOP. Truist Financial upped their price target on shares of Shopify from $65.00 to $90.00 and gave the company a hold rating in a research note on Monday, February 12th. StockNews.com upgraded shares of Shopify from a sell rating to a hold rating in a research note on Saturday, January 27th. Roth Capital upped their price target on shares of Shopify from $85.00 to $89.00 and gave the company a buy rating in a research note on Wednesday, February 14th. Jefferies Financial Group upped their price target on shares of Shopify from $65.00 to $80.00 and gave the company a hold rating in a research note on Friday, January 5th. Finally, The Goldman Sachs Group boosted their price objective on shares of Shopify from $67.00 to $75.00 and gave the company a neutral rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has a consensus rating of Hold and an average target price of $78.00.

Shopify Stock Down 2.1 %

Shopify stock opened at $68.55 on Monday. The firm has a market capitalization of $88.19 billion, a PE ratio of 761.67 and a beta of 2.22. The company’s 50-day moving average is $77.71 and its 200-day moving average is $71.66. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Sell-side analysts anticipate that Shopify will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

A number of hedge funds have recently bought and sold shares of SHOP. Private Wealth Management Group LLC bought a new position in Shopify during the fourth quarter worth $26,000. SJS Investment Consulting Inc. raised its stake in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new position in Shopify during the second quarter worth $27,000. DSM Capital Partners LLC bought a new position in Shopify during the fourth quarter worth $28,000. Finally, Jones Financial Companies Lllp bought a new position in Shopify during the fourth quarter worth $28,000. Institutional investors own 69.27% of the company’s stock.

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, Australia, China, 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.