Shopify (NYSE:SHOP) Shares Up 2.2%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price was up 2.2% during trading on Friday . The company traded as high as $75.98 and last traded at $75.92. Approximately 1,305,901 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 10,236,286 shares. The stock had previously closed at $74.30.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Securities dropped their price target on Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of Shopify from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. UBS Group raised their price target on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Bank of America raised shares of Shopify from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $78.00 to $82.00 in a report on Tuesday, July 16th. Finally, Barclays raised their target price on Shopify from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average target price of $77.30.

Shopify Stock Up 2.5 %

The business has a 50-day moving average price of $65.56 and a 200-day moving average price of $69.36. The stock has a market cap of $98.12 billion, a PE ratio of -447.88, a price-to-earnings-growth ratio of 2.50 and a beta of 2.30. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several institutional investors have recently bought and sold shares of SHOP. Yousif Capital Management LLC boosted its stake in shares of Shopify by 21.3% in the fourth quarter. Yousif Capital Management LLC now owns 21,095 shares of the software maker’s stock worth $1,643,000 after acquiring an additional 3,700 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Shopify by 187.6% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,599 shares of the software maker’s stock worth $358,000 after buying an additional 3,000 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new stake in shares of Shopify in the fourth quarter valued at about $404,000. Spinnaker Trust purchased a new position in shares of Shopify in the fourth quarter worth about $221,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in Shopify during the fourth quarter worth about $412,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Company Profile

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.