Shopify (NYSE:SHOP) (TSE:SHOP) had its target price hoisted by Barclays from $225.00 to $310.00 in a research note issued to investors on Friday morning, The Fly reports. Barclays currently has an equal weight rating on the software maker’s stock.
Several other brokerages have also issued reports on SHOP. Piper Jaffray Companies lifted their price target on shares of Shopify from $216.00 to $286.00 and gave the company a neutral rating in a report on Thursday, June 20th. Macquarie lifted their price target on shares of Shopify to $230.00 and gave the company an outperform rating in a report on Wednesday, March 27th. CIBC lowered shares of Shopify from an outperform rating to a neutral rating and lifted their price target for the company from $260.00 to $350.00 in a report on Thursday, June 20th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Shopify from a buy rating to a hold rating in a report on Friday, May 24th. Finally, Wedbush reaffirmed an outperform rating and set a $270.00 price target (up from $200.00) on shares of Shopify in a report on Monday, April 29th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. Shopify currently has an average rating of Buy and a consensus price target of $291.33.
SHOP stock opened at $311.83 on Friday. The company has a current ratio of 12.56, a quick ratio of 12.57 and a debt-to-equity ratio of 0.05. Shopify has a 12 month low of $117.64 and a 12 month high of $338.94. The company has a market cap of $36.44 billion, a price-to-earnings ratio of -511.20 and a beta of 1.34. The firm has a 50-day moving average price of $285.55.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, April 30th. The software maker reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.35) by $0.44. The firm had revenue of $320.50 million for the quarter, compared to analyst estimates of $310.11 million. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.74%. The business’s quarterly revenue was up 49.6% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. As a group, equities research analysts forecast that Shopify will post -0.79 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Advocates Investment Management lifted its position in shares of Shopify by 4.2% in the 4th quarter. Financial Advocates Investment Management now owns 3,873 shares of the software maker’s stock worth $536,000 after purchasing an additional 155 shares during the period. Henry James International Management Inc. lifted its position in shares of Shopify by 140.7% in the 1st quarter. Henry James International Management Inc. now owns 33,947 shares of the software maker’s stock worth $7,014,000 after purchasing an additional 19,846 shares during the period. Brown Advisory Inc. lifted its position in shares of Shopify by 6.9% in the 4th quarter. Brown Advisory Inc. now owns 4,927 shares of the software maker’s stock worth $682,000 after purchasing an additional 318 shares during the period. AGF Investments Inc. lifted its position in shares of Shopify by 91.3% in the 4th quarter. AGF Investments Inc. now owns 65,091 shares of the software maker’s stock worth $9,012,000 after purchasing an additional 31,073 shares during the period. Finally, Cipher Capital LP acquired a new position in shares of Shopify in the 4th quarter worth approximately $1,290,000. 66.47% of the stock is currently owned by hedge funds and other institutional investors.
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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