StockNews.com lowered shares of Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) from a hold rating to a sell rating in a research note released on Tuesday.
Several other brokerages also recently issued reports on SHOP. Wedbush restated a neutral rating and issued a $68.00 price objective on shares of Shopify in a research note on Tuesday, February 13th. Piper Sandler restated an underweight rating and set a $63.00 price objective on shares of Shopify in a report on Thursday, April 11th. Wells Fargo & Company reduced their target price on shares of Shopify from $90.00 to $85.00 and set an overweight rating for the company in a research note on Wednesday, February 14th. Barclays lowered their price target on Shopify from $70.00 to $68.00 and set an equal weight rating on the stock in a research note on Wednesday, February 14th. Finally, Roth Capital raised their price objective on Shopify from $85.00 to $89.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $78.00.
Check Out Our Latest Research Report on Shopify
Shopify Trading Up 0.2 %
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating analysts’ consensus estimates 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. Analysts expect that Shopify will post 0.57 EPS for the current fiscal year.
Hedge Funds Weigh In On Shopify
Institutional investors and hedge funds have recently modified their holdings of the business. Private Wealth Management Group LLC bought a new stake in shares of Shopify during the fourth quarter worth $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new position in shares of Shopify during the second quarter worth about $27,000. DSM Capital Partners LLC bought a new position in shares of Shopify during the fourth quarter worth about $28,000. Finally, Jones Financial Companies Lllp bought a new stake in Shopify in the 4th quarter valued at approximately $28,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.
About Shopify
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.
See Also
- Five stocks we like better than Shopify
- Insider Buying Explained: What Investors Need to Know
- Silicon Motion Proves That AI in Motion Stays in Motion
- The How and Why of Investing in Gold Stocks
- Undervalued UnitedHealth Group Won’t Be For Long
- What is the Nikkei 225 index?
- The 5 Stocks Most Sold By Insiders This Year
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.