Shopify Inc. (NYSE:SHOP) Receives $79.03 Consensus Price Target from Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have been assigned an average recommendation of “Hold” from the thirty-six brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seventeen have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $79.00.

Several equities analysts recently commented on SHOP shares. The Goldman Sachs Group upped their price target on shares of Shopify from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Roth Capital upped their price target on shares of Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. UBS Group boosted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. National Bankshares boosted their price objective on shares of Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, April 16th.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wealth Management Partners LLC raised its holdings in shares of Shopify by 0.9% during the fourth quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock worth $1,085,000 after purchasing an additional 126 shares during the period. SJS Investment Consulting Inc. increased its holdings in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the period. Tradition Wealth Management LLC increased its holdings in shares of Shopify by 7.5% in the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after acquiring an additional 140 shares during the period. Pachira Investments Inc. increased its holdings in shares of Shopify by 2.1% in the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after acquiring an additional 146 shares during the period. Finally, Baldwin Brothers LLC MA increased its holdings in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Up 3.4 %

Shares of NYSE SHOP opened at $74.46 on Friday. Shopify has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm’s 50-day moving average is $74.73 and its two-hundred day moving average is $73.42. The company has a market capitalization of $95.80 billion, a PE ratio of 827.43 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Equities analysts anticipate that Shopify will post 0.59 EPS for the current fiscal 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.