Shopify (NASDAQ:SHOP) Upgraded by TD Securities to Hold Rating

Shopify (NASDAQ:SHOP) (TSE:SHOP) was upgraded by TD Securities to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

SHOP has been the topic of several other reports. DZ Bank raised Shopify from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Zacks Research downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Barclays set a $140.00 price target on shares of Shopify and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Mizuho increased their price objective on shares of Shopify from $85.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, BNP Paribas started coverage on shares of Shopify in a report on Monday, November 24th. They issued a “neutral” rating on the stock. Twenty-two equities research analysts have rated the stock with a Buy rating and twenty-four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $166.53.

Shopify Stock Up 1.4%

Shares of NASDAQ SHOP opened at $162.31 on Thursday. The firm has a market cap of $211.30 billion, a P/E ratio of 120.23, a PEG ratio of 5.94 and a beta of 2.82. Shopify has a twelve month low of $69.84 and a twelve month high of $182.19. The company has a 50 day moving average of $158.06 and a 200 day moving average of $137.11.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify had a return on equity of 11.72% and a net margin of 16.65%. As a group, equities analysts expect that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify in the 2nd quarter worth $25,000. Financial Gravity Companies Inc. purchased a new position in Shopify during the second quarter valued at $27,000. Rothschild Investment LLC grew 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 purchasing an additional 75 shares during the period. Heartwood Wealth Advisors LLC purchased a new stake in Shopify in the third quarter worth about $27,000. Finally, Tradewinds Capital Management LLC increased its position in Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.