Shopify (NYSE:SHOP) Stock Rating Reaffirmed by Cantor Fitzgerald

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “neutral” rating reissued by investment analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They presently have a $70.00 price target on the software maker’s stock. Cantor Fitzgerald’s price target points to a potential downside of 11.77% from the stock’s current price.

A number of other brokerages also recently issued reports on SHOP. Wells Fargo & Company upped their price objective on shares of Shopify from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Roth Mkm raised their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, Barclays raised their price target on shares of Shopify from $63.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.92.

Shopify Stock Up 0.2 %

Shares of NYSE:SHOP traded up $0.13 during midday trading on Monday, hitting $79.34. 1,924,266 shares of the company’s stock were exchanged, compared to its average volume of 9,610,966. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a 50 day moving average price of $69.90 and a 200-day moving average price of $68.46. The company has a market cap of $102.24 billion, a PE ratio of -464.94, a price-to-earnings-growth ratio of 2.69 and a beta of 2.35. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted ($0.08) earnings per share. On average, sell-side analysts anticipate that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Trading of Shopify

Several institutional investors have recently modified their holdings of the company. GQG Partners LLC raised its position in shares of Shopify by 197.9% during the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Capital World Investors boosted its stake in shares of Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after acquiring an additional 10,340,040 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after purchasing an additional 5,982,434 shares during the period. Mackenzie Financial Corp boosted its stake in Shopify by 49.9% during the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after purchasing an additional 2,102,939 shares during the period. Finally, Toronto Dominion Bank lifted its position in shares of Shopify by 214.5% in the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker’s stock worth $224,492,000 after acquiring an additional 1,983,996 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.