Shopify Inc. (SHOP) Receives $101.20 Average PT from Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) have received a consensus recommendation of “Buy” from the thirty-eight ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $102.36.

A number of research analysts recently issued reports on the company. Macquarie increased their price objective on Shopify from $121.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, September 20th. Vetr downgraded Shopify from a “buy” rating to a “hold” rating and set a $120.91 price objective for the company. in a report on Tuesday, September 12th. Robert W. Baird reiterated a “buy” rating and set a $110.00 price objective on shares of Shopify in a report on Friday, September 29th. KeyCorp reiterated a “buy” rating and set a $116.00 price objective on shares of Shopify in a report on Friday, September 8th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $110.00 price target on shares of Shopify in a research note on Tuesday, September 5th.

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A number of large investors have recently added to or reduced their stakes in the stock. HL Financial Services LLC lifted its holdings in Shopify by 14.7% during the 3rd quarter. HL Financial Services LLC now owns 9,573 shares of the software maker’s stock worth $1,115,000 after purchasing an additional 1,225 shares during the last quarter. Jennison Associates LLC lifted its holdings in Shopify by 47.0% during the 3rd quarter. Jennison Associates LLC now owns 181,569 shares of the software maker’s stock worth $21,151,000 after purchasing an additional 58,033 shares during the last quarter. Meridian Wealth Management LLC lifted its holdings in Shopify by 18.5% during the 3rd quarter. Meridian Wealth Management LLC now owns 3,477 shares of the software maker’s stock worth $413,000 after purchasing an additional 544 shares during the last quarter. Syntal Capital Partners LLC lifted its holdings in Shopify by 11.6% during the 3rd quarter. Syntal Capital Partners LLC now owns 8,219 shares of the software maker’s stock worth $957,000 after purchasing an additional 857 shares during the last quarter. Finally, Andra AP fonden lifted its holdings in Shopify by 7.1% during the 3rd quarter. Andra AP fonden now owns 16,500 shares of the software maker’s stock worth $2,394,000 after purchasing an additional 1,100 shares during the last quarter. 55.03% of the stock is owned by institutional investors and hedge funds.

Shopify (NYSE:SHOP) traded up $2.51 during trading hours on Wednesday, hitting $98.71. The company had a trading volume of 1,969,555 shares, compared to its average volume of 4,540,000. The company has a quick ratio of 11.80, a current ratio of 10.64 and a debt-to-equity ratio of 0.02. Shopify has a fifty-two week low of $37.74 and a fifty-two week high of $123.94.

Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. The business had revenue of $151.70 million during the quarter, compared to the consensus estimate of $143.94 million. Shopify had a negative return on equity of 6.58% and a negative net margin of 7.90%. Shopify’s quarterly revenue was up 75.2% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. research analysts predict that Shopify will post -0.6 earnings per share for the current year.

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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