Shopify (NYSE:SHOP) Stock Rating Reaffirmed by Benchmark

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “hold” rating reiterated by equities researchers at Benchmark in a research note issued to investors on Tuesday, Benzinga reports.

A number of other equities analysts have also commented on SHOP. Wedbush reiterated a “neutral” rating and issued a $68.00 price target on shares of Shopify in a research report on Tuesday, February 13th. StockNews.com upgraded shares of Shopify from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Piper Sandler reissued an “underweight” rating and set a $63.00 price objective on shares of Shopify in a research note on Thursday, April 11th. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $74.00 to $85.00 in a research report on Friday, April 19th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $79.00.

Shopify Trading Down 18.5 %

Shares of Shopify stock opened at $62.81 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The stock has a market capitalization of $80.81 billion, a P/E ratio of 697.97 and a beta of 2.20. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The stock’s 50-day simple moving average is $74.74 and its 200 day simple moving average is $73.78.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, research analysts anticipate that Shopify will post 0.59 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOP. Wealth Management Partners LLC lifted its stake in Shopify by 0.9% during the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after acquiring an additional 126 shares during the period. SJS Investment Consulting Inc. lifted its holdings in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the period. Tradition Wealth Management LLC boosted its stake in shares of Shopify by 7.5% in the fourth quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Pachira Investments Inc. grew its holdings in Shopify by 2.1% during the fourth quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after acquiring an additional 146 shares during the period. Finally, Baldwin Brothers LLC MA raised its position in Shopify by 49.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock valued at $35,000 after acquiring an additional 147 shares in the last quarter. 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.