Piper Jaffray Companies reaffirmed their buy rating on shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) in a report published on Wednesday. The firm currently has a $110.00 price target on the software maker’s stock.
Other research analysts have also recently issued reports about the company. KeyCorp restated an overweight rating on shares of Shopify in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Shopify in a research note on Wednesday, August 9th. Roth Capital increased their price objective on Shopify from $117.00 to $119.00 and gave the company a buy rating in a research note on Wednesday. Vetr cut Shopify from a strong-buy rating to a buy rating and set a $101.92 price objective on the stock. in a research note on Tuesday, July 11th. Finally, BidaskClub cut Shopify from a buy rating to a hold rating in a research note on Friday, October 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $100.45.
Shopify (SHOP) opened at $98.71 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 10.64 and a quick ratio of 11.80.
Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. Shopify had a negative return on equity of 6.58% and a negative net margin of 7.90%. The company had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $143.94 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue was up 75.2% compared to the same quarter last year. equities research analysts predict that Shopify will post -0.6 EPS for the current year.
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Several hedge funds have recently modified their holdings of SHOP. Coatue Management LLC purchased a new position in shares of Shopify during the second quarter worth about $228,174,000. FMR LLC grew its holdings in shares of Shopify by 8.5% during the second quarter. FMR LLC now owns 12,560,797 shares of the software maker’s stock worth $1,090,644,000 after purchasing an additional 989,113 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Shopify during the third quarter worth about $109,344,000. Public Sector Pension investment Board purchased a new position in shares of Shopify during the second quarter worth about $40,637,000. Finally, Franklin Resources Inc. grew its holdings in shares of Shopify by 1,871.5% during the second quarter. Franklin Resources Inc. now owns 398,250 shares of the software maker’s stock worth $34,607,000 after purchasing an additional 378,050 shares during the last quarter. 55.03% of the stock is currently owned by institutional investors.
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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