Shopify Inc. (SHOP) PT Set at $117.00 by Roth Capital
Shopify Inc. (NYSE:SHOP) (TSE:SH) received a $117.00 price objective from investment analysts at Roth Capital in a report issued on Wednesday. The brokerage presently has a “buy” rating on the software maker’s stock. Roth Capital’s target price would suggest a potential upside of 20.42% from the company’s previous close.
SHOP has been the subject of a number of other research reports. CSFB reiterated an “outperform” rating and set a $128.00 target price on shares of Shopify in a research report on Tuesday, May 23rd. Royal Bank Of Canada increased their target price on shares of Shopify from $77.00 to $78.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 3rd. SunTrust Banks, Inc. initiated coverage on shares of Shopify in a report on Monday, June 26th. They set a “hold” rating and a $90.00 price objective on the stock. BidaskClub lowered shares of Shopify from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Vetr lowered shares of Shopify from a “strong-buy” rating to a “buy” rating and set a $101.92 price objective on the stock. in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty have given a buy rating to the stock. Shopify currently has an average rating of “Buy” and a consensus target price of $86.82.
Shopify (SHOP) traded down 0.61% on Wednesday, reaching $96.57. 1,146,189 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $90.58 and a 200-day moving average of $75.95. The firm’s market capitalization is $8.83 billion. Shopify has a 12 month low of $33.20 and a 12 month high of $105.79.
Shopify (NYSE:SHOP) (TSE:SH) last announced its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. The business had revenue of $151.70 million during the quarter, compared to analysts’ expectations of $143.94 million. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The firm’s revenue for the quarter was up 75.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) EPS. On average, equities analysts expect that Shopify will post ($0.05) earnings per share for the current year.
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A number of hedge funds have recently made changes to their positions in the company. Seven Bridges Advisors LLC bought a new stake in shares of Shopify during the second quarter valued at approximately $120,000. FNY Partners Fund LP bought a new stake in shares of Shopify during the first quarter valued at approximately $102,000. Toronto Dominion Bank increased its stake in shares of Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock valued at $111,000 after buying an additional 973 shares during the period. SG Americas Securities LLC bought a new stake in shares of Shopify during the first quarter valued at approximately $116,000. Finally, FNY Managed Accounts LLC bought a new stake in shares of Shopify during the first quarter valued at approximately $136,000. Hedge funds and other institutional investors own 60.98% of the company’s stock.
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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