Shopify Inc. (SHOP) Receives “Hold” Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their hold rating on shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) in a report published on Tuesday. They currently have a $99.00 target price on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. Vetr downgraded shares of Shopify from a strong-buy rating to a buy rating and set a $101.92 target price on the stock. in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Shopify from a strong-buy rating to a buy rating in a research report on Wednesday, July 5th. Roth Capital increased their target price on shares of Shopify from $92.00 to $101.00 and gave the stock a buy rating in a research report on Wednesday, July 26th. Zacks Investment Research raised shares of Shopify from a hold rating to a buy rating and set a $101.00 target price on the stock in a research report on Friday, July 28th. Finally, Canaccord Genuity reissued a buy rating and set a $115.00 target price (up from $90.00) on shares of Shopify in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and twenty-one have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $95.51.

Shares of Shopify (SHOP) opened at 92.57 on Tuesday. The stock’s market cap is $9.12 billion. The stock has a 50 day moving average price of $114.04 and a 200 day moving average price of $114.04. Shopify has a 12 month low of $37.74 and a 12 month high of $123.94.

Shopify (NYSE:SHOP) (TSE:SH) last posted its earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $151.70 million for the quarter, compared to the consensus estimate of $143.94 million. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The business’s quarterly revenue was up 75.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. Equities analysts anticipate that Shopify will post ($0.04) EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in SHOP. FNY Partners Fund LP bought a new position in Shopify during the first quarter worth about $102,000. SG Americas Securities LLC bought a new position in Shopify during the first quarter worth about $116,000. Seven Bridges Advisors LLC bought a new position in Shopify during the second quarter worth about $120,000. Advisory Services Network LLC lifted its stake in Shopify by 26.6% during the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after purchasing an additional 298 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new position in Shopify during the second quarter worth about $135,000. Hedge funds and other institutional investors own 53.77% 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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