Shopify (NYSE:SHOP) Upgraded at StockNews.com

Shopify (NYSE:SHOP) (TSE:SHOP) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

A number of other research firms have also recently weighed in on SHOP. UBS Group boosted their price target on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Jefferies Financial Group upped their target price on Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, January 5th. ATB Capital upped their target price on Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. DA Davidson upped their target price on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of Shopify in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Hold” and a consensus price target of $78.30.

Shopify Stock Up 4.9 %

SHOP opened at $74.02 on Wednesday. Shopify has a one year low of $45.50 and a one year high of $91.57. The company has a market cap of $95.23 billion, a price-to-earnings ratio of 822.54 and a beta of 2.22. The business’s fifty day moving average is $75.91 and its two-hundred day moving average is $72.39. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Analysts anticipate that Shopify will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SHOP. Private Wealth Management Group LLC purchased a new position in Shopify in the fourth quarter valued at about $26,000. SJS Investment Consulting Inc. boosted its holdings in 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 during the last quarter. DSM Capital Partners LLC purchased a new position in Shopify in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new position in Shopify in the fourth quarter valued at about $28,000. Finally, Your Advocates Ltd. LLP raised its stake in Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after buying an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.