Shopify Inc. (NYSE:SHOP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have earned a consensus recommendation of “Moderate Buy” from the thirty-seven ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $76.39.

SHOP has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Wells Fargo & Company cut their price objective on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Evercore ISI raised shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Friday, June 14th. Robert W. Baird cut their target price on shares of Shopify from $87.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Royal Bank of Canada cut their target price on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th.

Institutional Investors Weigh In On Shopify

Several large investors have recently added to or reduced their stakes in SHOP. Wealth Management Partners LLC increased its position in shares of Shopify by 0.9% in the 4th quarter. Wealth Management Partners LLC now owns 13,922 shares of the software maker’s stock valued at $1,085,000 after purchasing an additional 126 shares during the last quarter. SJS Investment Consulting Inc. boosted its stake in Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the period. Tradition Wealth Management LLC lifted its stake in shares of Shopify by 7.5% in the 4th quarter. Tradition Wealth Management LLC now owns 2,007 shares of the software maker’s stock worth $156,000 after acquiring an additional 140 shares during the period. Pachira Investments Inc. lifted its stake in shares of Shopify by 2.1% in the 4th quarter. Pachira Investments Inc. now owns 7,084 shares of the software maker’s stock worth $552,000 after acquiring an additional 146 shares during the period. Finally, Baldwin Brothers LLC MA lifted its stake in shares of Shopify by 49.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 447 shares of the software maker’s stock worth $35,000 after acquiring an additional 147 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP stock opened at $65.04 on Friday. The firm has a market cap of $83.81 billion, a price-to-earnings ratio of -382.56, a PEG ratio of 3.26 and a beta of 2.27. The company’s 50 day moving average is $64.57 and its 200 day moving average is $73.25. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. On average, sell-side analysts anticipate that Shopify will post 0.61 EPS for the current fiscal year.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.