Shopify Inc. (NYSE:SHOP) has been given an average recommendation of “Buy” by the twenty-four ratings firms that are covering the firm. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $41.26.
Several equities analysts recently weighed in on the company. Macquarie set a $52.00 price objective on Shopify and gave the company a “buy” rating in a research note on Wednesday, September 14th. Robert W. Baird reissued an “outperform” rating and set a $40.00 price target (up previously from $34.00) on shares of Shopify in a research report on Thursday, August 4th. Goldman Sachs Group Inc. started coverage on Shopify in a research report on Tuesday, October 4th. They set a “buy” rating and a $53.00 price target for the company. Morgan Stanley downgraded Shopify from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $37.00 to $47.00 in a research report on Wednesday, September 28th. They noted that the move was a valuation call. Finally, Monness Crespi & Hardt started coverage on Shopify in a research report on Wednesday, June 29th. They set a “buy” rating and a $35.00 price target for the company.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. purchased a new position in shares of Shopify during the second quarter worth $1,737,000. Amica Pension Fund Board of Trustees boosted its position in shares of Shopify by 80.0% in the second quarter. Amica Pension Fund Board of Trustees now owns 23,964 shares of the company’s stock worth $737,000 after buying an additional 10,654 shares during the last quarter. Amica Retiree Medical Trust boosted its position in shares of Shopify by 80.9% in the second quarter. Amica Retiree Medical Trust now owns 3,695 shares of the company’s stock worth $114,000 after buying an additional 1,652 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in shares of Shopify during the second quarter worth $13,921,000. Finally, CIBC World Markets Inc. boosted its position in shares of Shopify by 7.7% in the first quarter. CIBC World Markets Inc. now owns 11,967 shares of the company’s stock worth $338,000 after buying an additional 855 shares during the last quarter. Hedge funds and other institutional investors own 54.07% of the company’s stock.
Shopify (NYSE:SHOP) opened at 42.02 on Thursday. The firm’s market cap is $3.44 billion. The company’s 50-day moving average price is $42.58 and its 200 day moving average price is $34.42. Shopify has a 1-year low of $18.48 and a 1-year high of $45.20.
Shopify (NYSE:SHOP) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.04. Shopify had a negative return on equity of 14.67% and a negative net margin of 10.03%. The firm earned $86.36 million during the quarter, compared to the consensus estimate of $80.62 million. During the same period last year, the business posted ($0.03) EPS. Shopify’s quarterly revenue was up 92.9% on a year-over-year basis. On average, equities analysts expect that Shopify will post ($0.15) earnings per share for the current fiscal year.
Shopify Company Profile
Shopify Inc is a provider of cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, social media storefronts, such as Facebook, Twitter and Pinterest, and physical retail locations.
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