Shopify Inc. (NASDAQ:SHOP) Receives $151.95 Average PT from Brokerages

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) has been assigned a consensus recommendation of “Moderate Buy” from the forty-six analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twenty-two have given a hold recommendation, twenty-two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $151.9459.

A number of research analysts have issued reports on SHOP shares. Oppenheimer reissued an “outperform” rating and issued a $149.00 target price on shares of Shopify in a research note on Tuesday, September 30th. DA Davidson lifted their price target on Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Zacks Research raised Shopify from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Cantor Fitzgerald set a $156.00 price target on Shopify and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shopify in a research note on Wednesday, October 8th.

Hedge Funds Weigh In On Shopify

Several hedge funds have recently made changes to their positions in SHOP. Rothschild Investment LLC increased its holdings in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Shopify by 13.9% in the second quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker’s stock worth $72,000 after acquiring an additional 77 shares during the period. N.E.W. Advisory Services LLC raised its position in Shopify by 16.2% in the second quarter. N.E.W. Advisory Services LLC now owns 595 shares of the software maker’s stock worth $69,000 after acquiring an additional 83 shares during the period. LM Advisors LLC raised its position in Shopify by 2.2% in the second quarter. LM Advisors LLC now owns 4,045 shares of the software maker’s stock worth $467,000 after acquiring an additional 88 shares during the period. Finally, Prosperity Consulting Group LLC raised its position in Shopify by 1.5% in the second quarter. Prosperity Consulting Group LLC now owns 6,011 shares of the software maker’s stock worth $693,000 after acquiring an additional 90 shares during the period. 69.27% of the stock is owned by institutional investors.

Shopify Trading Up 0.2%

NASDAQ:SHOP opened at $156.57 on Friday. Shopify has a 1 year low of $69.84 and a 1 year high of $169.69. The stock has a market cap of $203.49 billion, a price-to-earnings ratio of 87.47, a PEG ratio of 7.31 and a beta of 2.72. The stock has a 50-day moving average price of $147.83 and a two-hundred day moving average price of $120.58.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. The company’s revenue was up 31.1% on a year-over-year basis. Sell-side analysts forecast 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.