Rosenblatt Securities initiated coverage on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $188.00 target price on the software maker’s stock.

SHOP has been the subject of a number of other reports. Barclays upped their target price on shares of Shopify from $125.00 to $155.00 and gave the company an equal weight rating in a report on Monday, July 23rd. They noted that the move was a valuation call. Roth Capital upped their target price on shares of Shopify from $165.00 to $192.00 and gave the company a buy rating in a report on Tuesday, July 24th. Royal Bank of Canada upped their target price on shares of Shopify from $126.00 to $157.00 and gave the company a sector perform rating in a report on Thursday, July 26th. KeyCorp reaffirmed an overweight rating and issued a $182.00 target price (up from $170.00) on shares of Shopify in a report on Tuesday, June 19th. Finally, TheStreet raised shares of Shopify from a d+ rating to a c rating in a report on Monday, May 21st. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $161.90.

Shares of SHOP opened at $140.64 on Tuesday. Shopify has a 1-year low of $89.35 and a 1-year high of $176.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.89 and a quick ratio of 12.89. The firm has a market capitalization of $14.89 billion, a P/E ratio of -334.86 and a beta of 1.17.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, July 31st. The software maker reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.30. Shopify had a negative net margin of 6.12% and a negative return on equity of 3.77%. The business had revenue of $245.00 million during the quarter, compared to analysts’ expectations of $234.72 million. During the same period in the prior year, the company earned ($0.01) earnings per share. The business’s revenue was up 61.5% compared to the same quarter last year. sell-side analysts predict that Shopify will post -0.76 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Resources Investment Advisors Inc. increased its stake in shares of Shopify by 10,257.1% during the second quarter. Resources Investment Advisors Inc. now owns 725 shares of the software maker’s stock worth $106,000 after acquiring an additional 718 shares during the period. Next Century Growth Investors LLC acquired a new position in shares of Shopify during the first quarter worth about $115,000. Signaturefd LLC acquired a new position in shares of Shopify during the first quarter worth about $132,000. Shine Investment Advisory Services Inc. acquired a new position in shares of Shopify during the second quarter worth about $159,000. Finally, Captrust Financial Advisors increased its stake in shares of Shopify by 643.3% during the second quarter. Captrust Financial Advisors now owns 1,115 shares of the software maker’s stock worth $163,000 after acquiring an additional 965 shares during the period. Institutional investors and hedge funds own 60.72% of the company’s stock.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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