Shopify (NYSE:SHOP) (TSE:SHOP) had its target price hoisted by analysts at KeyCorp from $385.00 to $485.00 in a report issued on Tuesday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective points to a potential upside of 6.62% from the stock’s previous close.
Several other equities analysts have also recently commented on SHOP. Royal Bank of Canada restated an “outperform” rating and issued a $400.00 target price on shares of Shopify in a research report on Monday, October 28th. Credit Suisse Group boosted their target price on shares of Shopify from $370.00 to $450.00 and gave the company an “outperform” rating in a research report on Monday, January 13th. ValuEngine cut shares of Shopify from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Mizuho began coverage on shares of Shopify in a research report on Thursday, January 9th. They issued a “neutral” rating and a $410.00 target price for the company. Finally, National Bank Financial boosted their target price on shares of Shopify from $400.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $349.75.
NYSE SHOP opened at $454.88 on Tuesday. The firm has a 50-day moving average price of $401.79 and a two-hundred day moving average price of $350.11. The company has a market capitalization of $52.47 billion, a P/E ratio of -402.55 and a beta of 1.21. The company has a quick ratio of 11.21, a current ratio of 11.21 and a debt-to-equity ratio of 0.04. Shopify has a 12-month low of $154.10 and a 12-month high of $458.91.
Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, October 29th. The software maker reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.08. The company had revenue of $390.55 million during the quarter, compared to analysts’ expectations of $384.05 million. Shopify had a negative net margin of 8.97% and a negative return on equity of 3.36%. Equities analysts expect that Shopify will post -1.25 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in Shopify by 698.2% during the second quarter. Bank of America Corp DE now owns 139,386 shares of the software maker’s stock worth $41,836,000 after acquiring an additional 162,687 shares in the last quarter. Toronto Dominion Bank boosted its stake in Shopify by 68.2% during the second quarter. Toronto Dominion Bank now owns 289,392 shares of the software maker’s stock worth $86,938,000 after acquiring an additional 117,292 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Shopify during the third quarter worth $32,770,000. Commerzbank Aktiengesellschaft FI boosted its stake in Shopify by 422.3% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 128,108 shares of the software maker’s stock worth $39,926,000 after acquiring an additional 103,582 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in Shopify by 25.5% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 472,684 shares of the software maker’s stock worth $147,317,000 after acquiring an additional 95,997 shares in the last quarter. Hedge funds and other institutional investors own 57.29% of the company’s stock.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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