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

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have been assigned an average rating of “Moderate Buy” from the forty-one brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation, twenty-three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $94.95.

SHOP has been the subject of a number of research analyst reports. Evercore ISI increased their target price on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Benchmark reissued a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. UBS Group upped their price target on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Wedbush restated a “neutral” rating and issued a $115.00 price target (up previously from $72.00) on shares of Shopify in a report on Tuesday, November 12th. Finally, Barclays upped their price target on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th.

Institutional Investors Weigh In On Shopify

Large investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. increased its holdings in shares of Shopify by 91.4% during the first quarter. Edgestream Partners L.P. now owns 6,083 shares of the software maker’s stock valued at $469,000 after purchasing an additional 2,905 shares during the period. UniSuper Management Pty Ltd boosted its stake in Shopify by 96.6% during the first quarter. UniSuper Management Pty Ltd now owns 17,100 shares of the software maker’s stock valued at $1,320,000 after buying an additional 8,400 shares in the last quarter. Natixis Investment Managers International bought a new position in Shopify during the first quarter valued at about $1,735,000. Castle Hook Partners LP bought a new position in Shopify during the first quarter valued at about $22,807,000. Finally, Crewe Advisors LLC bought a new position in Shopify during the first quarter valued at about $729,000. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Down 2.4 %

SHOP opened at $105.90 on Tuesday. The firm has a 50 day moving average price of $82.73 and a 200 day moving average price of $71.27. The company has a market cap of $136.65 billion, a PE ratio of 98.97, a price-to-earnings-growth ratio of 3.45 and a beta of 2.36. Shopify has a 1 year low of $48.56 and a 1 year high of $115.62. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10.

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.