Shopify Inc. $SHOP Stock: Fulcrum Asset Management LLP Grows Holdings

Fulcrum Asset Management LLP grew its position in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 11.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 51,390 shares of the software maker’s stock after buying an additional 5,074 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Shopify were worth $7,617,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SHOP. Fortitude Family Office LLC acquired a new stake in shares of Shopify during the third quarter worth about $29,000. MADDEN SECURITIES Corp purchased a new stake in shares of Shopify in the 3rd quarter valued at about $30,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at about $32,000. Graney & King LLC acquired a new stake in shares of Shopify in the 1st quarter valued at about $27,000. Finally, Trellis Wealth Advisors LLC acquired a new stake in shares of Shopify in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. ATB Cormark Capital Markets downgraded Shopify from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 22nd. BMO Capital Markets set a $165.00 price objective on Shopify and gave the company an “outperform” rating in a research note on Thursday, August 6th. Phillip Securities downgraded Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, August 17th. Robert W. Baird increased their price objective on Shopify from $160.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, October 14th. Finally, Evercore restated an “outperform” rating and set a $175.00 target price (up from $135.00) on shares of Shopify in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.82.

Shopify Price Performance

NASDAQ SHOP opened at $148.91 on Monday. The firm has a market cap of $191.59 billion, a P/E ratio of 90.80, a P/E/G ratio of 3.57 and a beta of 2.65. Shopify Inc. has a 52-week low of $94.00 and a 52-week high of $180.88. The business’s 50-day moving average price is $152.51 and its 200 day moving average price is $130.07.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, November 3rd. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.33 by $0.16. The firm had revenue of $3.74 billion during the quarter. Shopify had a return on equity of 14.03% and a net margin of 15.01%. The firm’s revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. As a group, analysts anticipate that Shopify Inc. will post 1.47 earnings per share for the current year.

Key Headlines Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported 32% year-over-year revenue growth to about $3.7 billion, GMV growth of 30% to $119 billion, and a 22% free-cash-flow margin. Coverage also highlighted a forecast for another quarter of 30%-plus growth as the holiday shopping season approaches. Article Article
• Positive Sentiment: Several analysts remain constructive: Morgan Stanley reiterated a buy call after the pullback, Argus reaffirmed its buy rating with a $180 target, and Wedbush and RBC issued Outperform ratings. UBS raised its target to $160, though it kept a Neutral rating. Article Article
• Positive Sentiment: Traders bought a large volume of Shopify call options, suggesting some market participants are positioning for a rebound, though options activity is not a guarantee of future performance. Article
• Negative Sentiment: One report says Shopify’s results included a slight miss, which may be overshadowing its growth and prompting investors to reassess its premium valuation. Article
• Negative Sentiment: Rosenblatt lowered its expectations for the stock, while Cantor Fitzgerald issued a pessimistic forecast, adding to near-term analyst caution. Article Article

Shopify Company Profile

Shopify is a commerce technology company that provides tools for businesses to create and operate online stores. Its platform supports activities such as product management, order processing, payments, shipping, marketing and customer engagement.

Shopify also offers point-of-sale tools for merchants selling in person, connecting retail operations with online sales. Its services are used by businesses of varying sizes and are available to merchants in countries around the world.

Founded in 2006, Shopify is headquartered in Ottawa, Canada.