Royal Bank Of Canada restated their hold rating on shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) in a research report released on Tuesday. They currently have a $99.00 price target on the software maker’s stock.

Several other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Shopify from a hold rating to a buy rating and set a $101.00 price target on the stock in a research report on Friday, July 28th. BidaskClub upgraded shares of Shopify from a buy rating to a strong-buy rating in a research report on Tuesday, June 27th. Vetr upgraded shares of Shopify from a buy rating to a strong-buy rating and set a $102.78 price target on the stock in a research report on Monday, July 24th. Piper Jaffray Companies reiterated a buy rating and issued a $110.00 price target on shares of Shopify in a research report on Tuesday, September 5th. Finally, Robert W. Baird reiterated an outperform rating on shares of Shopify in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and twenty have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $95.51.

Shares of Shopify (NYSE SHOP) opened at 94.22 on Tuesday. Shopify has a 12-month low of $37.74 and a 12-month high of $123.94. The company has a 50-day moving average price of $111.70 and a 200 day moving average price of $111.70. The firm’s market capitalization is $9.29 billion.

Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.05. The business had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The company’s quarterly revenue was up 75.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) earnings per share. On average, equities analysts expect that Shopify will post ($0.04) earnings per share for the current year.

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Several hedge funds have recently modified their holdings of the company. Nadler Financial Group Inc. raised its stake in shares of Shopify by 0.9% in the 2nd quarter. Nadler Financial Group Inc. now owns 3,033 shares of the software maker’s stock valued at $264,000 after acquiring an additional 28 shares during the period. Private Advisory Group LLC raised its stake in shares of Shopify by 3.9% in the 2nd quarter. Private Advisory Group LLC now owns 4,391 shares of the software maker’s stock valued at $382,000 after acquiring an additional 164 shares during the period. Advisory Services Network LLC raised its stake in shares of Shopify by 26.6% in the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after acquiring an additional 298 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of Shopify by 2.1% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 19,200 shares of the software maker’s stock valued at $1,668,000 after acquiring an additional 400 shares during the period. Finally, State of Tennessee Treasury Department raised its stake in shares of Shopify by 1.2% in the 2nd quarter. State of Tennessee Treasury Department now owns 46,703 shares of the software maker’s stock valued at $4,058,000 after acquiring an additional 550 shares during the period. 53.77% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Shopify (NYSE:SHOP)

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