Shopify Inc. (NYSE:SHOP) Given Consensus Rating of “Moderate Buy” by Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been given an average recommendation of “Moderate Buy” by the thirty-nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $77.30.

SHOP has been the subject of a number of research analyst reports. Wedbush reissued a “neutral” rating and issued a $72.00 price target (up from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Citigroup decreased their target price on shares of Shopify from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Barclays upped their price target on shares of Shopify from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Bank of America raised Shopify from a “neutral” rating to a “buy” rating and upped their target price for the stock from $78.00 to $82.00 in a research report on Tuesday, July 16th.

Shopify Trading Down 1.4 %

Shopify stock opened at $70.23 on Thursday. The company has a 50 day moving average price of $66.89 and a 200 day moving average price of $68.72. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The firm has a market capitalization of $90.50 billion, a price-to-earnings ratio of -413.12, a P/E/G ratio of 2.48 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. Shopify’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Research analysts forecast that Shopify will post 0.76 EPS for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC raised its position in Shopify by 9.0% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 4,121 shares of the software maker’s stock worth $321,000 after purchasing an additional 341 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Shopify by 7.5% in the 4th quarter. Private Advisor Group LLC now owns 31,572 shares of the software maker’s stock worth $2,459,000 after buying an additional 2,208 shares in the last quarter. Lincoln National Corp lifted its position in shares of Shopify by 11.2% during the 4th quarter. Lincoln National Corp now owns 7,907 shares of the software maker’s stock worth $616,000 after buying an additional 794 shares during the period. Bogart Wealth LLC grew its position in Shopify by 8.3% in the fourth quarter. Bogart Wealth LLC now owns 66,267 shares of the software maker’s stock valued at $5,162,000 after acquiring an additional 5,086 shares during the period. Finally, Vestor Capital LLC bought a new stake in Shopify in the fourth quarter valued at $54,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.