Shopify Inc. (NYSE:SHOP) (TSE:SH)‘s stock had its “hold” rating reiterated by Oppenheimer Holdings, Inc. in a report released on Tuesday.
Several other analysts have also recently weighed in on SHOP. Robert W. Baird reissued an “outperform” rating on shares of Shopify in a report on Monday, July 3rd. BidaskClub cut Shopify from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Vetr cut Shopify from a “strong-buy” rating to a “buy” rating and set a $101.92 price target for the company. in a report on Tuesday, July 11th. Benchmark Co. started coverage on Shopify in a report on Wednesday, July 12th. They set a “hold” rating for the company. Finally, William Blair reissued a “market perform” rating on shares of Shopify in a report on Thursday, July 13th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. Shopify presently has a consensus rating of “Buy” and a consensus price target of $99.03.
Shopify (NYSE:SHOP) traded down 9.03% during mid-day trading on Tuesday, hitting $99.49. The stock had a trading volume of 12,924,084 shares. The firm’s market capitalization is $9.81 billion. Shopify has a one year low of $37.74 and a one year high of $123.94. The stock’s 50 day moving average price is $108.83 and its 200 day moving average price is $108.83.
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Several institutional investors and hedge funds have recently modified their holdings of the company. Meridian Wealth Management LLC increased its stake in shares of Shopify by 18.5% in the 3rd quarter. Meridian Wealth Management LLC now owns 3,477 shares of the software maker’s stock valued at $413,000 after purchasing an additional 544 shares during the last quarter. Syntal Capital Partners LLC boosted its holdings in shares of Shopify by 11.6% during the 3rd quarter. Syntal Capital Partners LLC now owns 8,219 shares of the software maker’s stock valued at $957,000 after acquiring an additional 857 shares in the last quarter. Andra AP fonden boosted its holdings in shares of Shopify by 7.1% during the 3rd quarter. Andra AP fonden now owns 16,500 shares of the software maker’s stock valued at $2,394,000 after acquiring an additional 1,100 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Shopify by 2.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 477,948 shares of the software maker’s stock valued at $55,650,000 after acquiring an additional 11,448 shares in the last quarter. Finally, Barton Investment Management boosted its holdings in shares of Shopify by 5.9% during the 3rd quarter. Barton Investment Management now owns 274,900 shares of the software maker’s stock valued at $32,023,000 after acquiring an additional 15,250 shares in the last quarter. Institutional investors own 55.03% 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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