Other equities research analysts also recently issued reports about the company. Roth Capital set a $82.00 target price on Shopify and gave the stock a buy rating in a research report on Tuesday, April 25th. Mackie reiterated a buy rating and issued a $95.00 target price (up from $70.00) on shares of Shopify in a research report on Sunday, April 23rd. Vetr cut Shopify from a strong-buy rating to a buy rating and set a $78.85 price objective on the stock. in a research note on Friday, April 14th. Canaccord Genuity reissued a buy rating and set a $90.00 price objective (up from $68.00) on shares of Shopify in a research note on Tuesday, May 2nd. Finally, Eight Capital raised Shopify from a neutral rating to a buy rating in a research note on Wednesday, May 3rd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $88.33.
Shares of Shopify (NYSE SHOP) traded up 1.16% during mid-day trading on Wednesday, reaching $94.58. The company had a trading volume of 988,637 shares. The firm has a 50 day moving average of $92.72 and a 200-day moving average of $79.52. The stock’s market capitalization is $9.32 billion. Shopify has a one year low of $37.74 and a one year high of $105.79.
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Several hedge funds have recently modified their holdings of SHOP. FNY Partners Fund LP acquired a new stake in shares of Shopify during the first quarter valued at approximately $102,000. Toronto Dominion Bank raised its stake in shares of Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock valued at $111,000 after buying an additional 973 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Shopify during the first quarter valued at approximately $116,000. Seven Bridges Advisors LLC acquired a new stake in shares of Shopify during the second quarter valued at approximately $120,000. Finally, Advisory Services Network LLC raised its stake in shares of Shopify by 26.6% in the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after buying an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 57.07% of the company’s stock.
Shopify Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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