Shopify Inc (NYSE:SHOP) (TSE:SHOP) fell 5.8% during trading on Wednesday . The company traded as low as $133.87 and last traded at $137.37. 3,147,084 shares changed hands during mid-day trading, an increase of 91% from the average session volume of 1,647,656 shares. The stock had previously closed at $145.83.

A number of equities research analysts have issued reports on SHOP shares. Roth Capital upped their price objective on Shopify from $165.00 to $192.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. National Bank Financial upped their price objective on Shopify from $160.00 to $180.00 and gave the company a “$173.26” rating in a research report on Monday, July 23rd. Barclays upped their price objective on Shopify from $125.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, July 23rd. They noted that the move was a valuation call. Royal Bank of Canada upped their price objective on Shopify from $126.00 to $157.00 and gave the company a “sector perform” rating in a research report on Thursday, July 26th. Finally, Jefferies Financial Group started coverage on Shopify in a research report on Monday, October 1st. They set a “hold” rating and a $175.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Shopify presently has a consensus rating of “Buy” and a consensus price target of $164.53.

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 $14.61 billion, a price-to-earnings ratio of -326.88 and a beta of 1.16.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.30. Shopify had a negative return on equity of 3.77% and a negative net margin of 6.12%. The company had revenue of $245.00 million for the quarter, compared to analysts’ expectations of $234.72 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Shopify’s revenue was up 61.5% compared to the same quarter last year. As a group, analysts expect that Shopify Inc will post -0.74 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in SHOP. WCM Investment Management CA grew its stake in Shopify by 105,403.1% in the second quarter. WCM Investment Management CA now owns 5,802,669 shares of the software maker’s stock worth $846,551,000 after purchasing an additional 5,797,169 shares in the last quarter. Baillie Gifford & Co. boosted its position in Shopify by 21.4% during the 2nd quarter. Baillie Gifford & Co. now owns 1,682,123 shares of the software maker’s stock valued at $245,405,000 after acquiring an additional 296,872 shares in the last quarter. Bank of Montreal Can bought a new stake in Shopify during the 2nd quarter valued at $36,506,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in Shopify by 23.3% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,091,315 shares of the software maker’s stock valued at $159,045,000 after acquiring an additional 206,325 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Shopify by 40.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 667,628 shares of the software maker’s stock valued at $97,387,000 after acquiring an additional 192,463 shares in the last quarter. 60.70% of the stock is currently owned by institutional investors.

Shopify Company Profile (NYSE:SHOP)

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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