Shopify (NYSE:SHOP) Shares Up 1.1%

Shopify Inc. (NYSE:SHOPGet Free Report) (TSE:SHOP)’s share price was up 1.1% during mid-day trading on Friday . The stock traded as high as $67.46 and last traded at $67.45. Approximately 1,426,164 shares changed hands during trading, a decline of 86% from the average daily volume of 10,158,377 shares. The stock had previously closed at $66.73.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SHOP. Moffett Nathanson lowered shares of Shopify from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $74.00 to $65.00 in a research report on Thursday, June 6th. Robert W. Baird dropped their price objective on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Citigroup lifted their target price on Shopify from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Wells Fargo & Company dropped their price target on Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Finally, Barclays reduced their price objective on Shopify from $68.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.42.

View Our Latest Stock Analysis on SHOP

Shopify Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. The firm’s 50-day moving average price is $63.66 and its two-hundred day moving average price is $72.64.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, equities analysts expect that Shopify Inc. will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its holdings in shares of Shopify by 2.3% in the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after buying an additional 1,419,749 shares in the last quarter. Capital World Investors boosted its stake in Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. grew its holdings in Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares in the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after purchasing an additional 13,885,473 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

(Get Free Report)

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.

Further Reading

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