Shopify Inc. (NYSE:SHOP) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have earned a consensus recommendation of “Moderate Buy” from the forty analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, twenty-four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $120.94.

A number of brokerages have weighed in on SHOP. The Goldman Sachs Group boosted their price objective on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. DA Davidson decreased their price target on shares of Shopify from $150.00 to $115.00 and set a “buy” rating for the company in a research note on Monday. Jefferies Financial Group raised their price objective on shares of Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, February 18th. Morgan Stanley reduced their target price on shares of Shopify from $144.00 to $106.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Loop Capital lowered their price target on Shopify from $150.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday.

Shopify Trading Down 0.4 %

Shares of Shopify stock opened at $83.65 on Friday. The company has a fifty day simple moving average of $101.26 and a 200-day simple moving average of $101.43. The stock has a market cap of $108.31 billion, a price-to-earnings ratio of 53.97, a PEG ratio of 4.82 and a beta of 2.82. Shopify has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, analysts forecast that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of large investors have recently made changes to their positions in SHOP. Capital World Investors lifted its holdings in Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after purchasing an additional 496,982 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after buying an additional 781,162 shares during the last quarter. FMR LLC lifted its stake in shares of Shopify by 3.4% during the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after buying an additional 1,426,000 shares during the period. Capital International Investors boosted its position in Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock worth $3,883,039,000 after acquiring an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Shopify by 79.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares during the period. Institutional investors and hedge funds 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.