Shopify Inc. (NASDAQ:SHOP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) have been given a consensus rating of “Moderate Buy” by the forty-five ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation and twenty-four have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $150.2703.

Several research firms have recently weighed in on SHOP. Citigroup upped their price objective on Shopify from $155.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, August 8th. National Bankshares upped their price objective on Shopify from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Mizuho upped their price objective on Shopify from $85.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Shopify from $115.00 to $179.00 and gave the company an “overweight” rating in a research note on Thursday, August 7th. Finally, Robert W. Baird upped their price objective on Shopify from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, July 14th.

Shopify Trading Down 1.1%

NASDAQ SHOP opened at $143.38 on Monday. Shopify has a 1-year low of $69.84 and a 1-year high of $156.85. The company has a market capitalization of $186.35 billion, a price-to-earnings ratio of 80.10, a PEG ratio of 6.79 and a beta of 2.69. The stock’s 50 day moving average is $133.77 and its two-hundred day moving average is $112.04.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The company had revenue of $2.68 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue was up 31.1% compared to the same quarter last year. On average, analysts predict that Shopify will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SHOP. Mather Group LLC. raised its position in shares of Shopify by 127.4% during the 1st quarter. Mather Group LLC. now owns 912 shares of the software maker’s stock valued at $87,000 after acquiring an additional 511 shares during the last quarter. Legacy Advisory Services LLC bought a new stake in shares of Shopify during the 1st quarter valued at $522,000. Dynamic Advisor Solutions LLC bought a new stake in shares of Shopify during the 1st quarter valued at $382,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Shopify during the 1st quarter valued at $31,970,000. Finally, Ascent Group LLC bought a new stake in shares of Shopify during the 1st quarter valued at $513,000. 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.