Shopify Inc. (NYSE:SHOP) Receives Consensus Rating of “Hold” from Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have earned a consensus recommendation of “Hold” from the thirty-six analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $79.03.

A number of research analysts recently issued reports on SHOP shares. Mizuho lifted their target price on Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. National Bankshares lifted their target price on Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. DA Davidson lifted their target price on Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Robert W. Baird increased their price target on Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, April 16th.

Shopify Price Performance

Shares of SHOP opened at $72.02 on Friday. The firm has a market capitalization of $92.66 billion, a price-to-earnings ratio of 800.31 and a beta of 2.20. 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 has a one year low of $45.50 and a one year high of $91.57. The stock’s fifty day moving average is $74.77 and its 200-day moving average is $73.00.

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

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently modified their holdings of SHOP. Asset Management One Co. Ltd. bought a new stake in shares of Shopify during the third quarter valued at approximately $47,000. Commonwealth Equity Services LLC boosted its stake in Shopify by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 384,168 shares of the software maker’s stock valued at $20,964,000 after buying an additional 6,066 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Shopify by 1.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 261,013 shares of the software maker’s stock valued at $14,243,000 after buying an additional 4,261 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Shopify by 17.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 200,000 shares of the software maker’s stock valued at $10,914,000 after buying an additional 30,000 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its stake in Shopify by 3.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 18,777 shares of the software maker’s stock valued at $1,025,000 after buying an additional 581 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

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.