Shopify Inc. (NASDAQ:SHOP) Given Average Recommendation of “Moderate Buy” by Analysts

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) has earned an average rating of “Moderate Buy” from the forty-six brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $155.3514.

SHOP has been the subject of several recent analyst reports. Cantor Fitzgerald set a $156.00 target price on shares of Shopify and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. TD Securities increased their price objective on Shopify from $130.00 to $156.00 and gave the stock a “hold” rating in a report on Friday, October 3rd. Arete restated a “neutral” rating on shares of Shopify in a research report on Wednesday, July 23rd. Arete Research upgraded Shopify to a “hold” rating in a research report on Wednesday, July 23rd. Finally, Barclays raised their price target on Shopify from $94.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday, August 7th.

Institutional Trading of Shopify

A number of hedge funds and other institutional investors have recently made changes to their positions in SHOP. Family Legacy Financial Solutions LLC acquired a new position in shares of Shopify during the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. acquired a new position in shares of Shopify during the 2nd quarter valued at $27,000. Rothschild Investment LLC increased its position in shares of Shopify by 47.5% during the 2nd quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC bought a new stake in shares of Shopify in the 3rd quarter worth $27,000. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock valued at $28,000 after buying an additional 100 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

Shares of SHOP opened at $172.94 on Tuesday. Shopify has a 12 month low of $69.84 and a 12 month high of $182.19. The stock has a fifty day moving average price of $154.22 and a 200 day moving average price of $128.51. The company has a market cap of $224.76 billion, a P/E ratio of 96.61, a PEG ratio of 8.14 and a beta of 2.73.

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

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.