Loop Capital Trims Shopify (NYSE:SHOP) Target Price to $80.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price trimmed by Loop Capital from $90.00 to $80.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a hold rating on the software maker’s stock.

Other equities analysts also recently issued reports about the stock. CIBC raised their price target on shares of Shopify from $82.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Roth Capital boosted their target price on Shopify from $85.00 to $89.00 and gave the stock a buy rating in a report on Wednesday, February 14th. BNP Paribas lowered Shopify from a neutral rating to an underperform rating in a research report on Thursday, January 18th. Citigroup lowered their price objective on Shopify from $96.00 to $93.00 and set a neutral rating on the stock in a research note on Wednesday, February 14th. Finally, Barclays cut their target price on Shopify from $70.00 to $68.00 and set an equal weight rating for the company in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of Hold and an average price target of $78.00.

Shopify Price Performance

NYSE:SHOP opened at $69.51 on Monday. The stock has a 50 day moving average of $76.77 and a two-hundred day moving average of $71.73. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The firm has a market cap of $89.43 billion, a P/E ratio of 772.42 and a beta of 2.22. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, analysts expect that Shopify will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SHOP. Fairfield Bush & CO. acquired a new position in shares of Shopify during the first quarter worth about $169,000. Raymond James Trust N.A. grew its holdings in Shopify by 26.5% during the 1st quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock worth $510,000 after acquiring an additional 158 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Shopify by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock worth $20,391,000 after acquiring an additional 592 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Shopify by 13.0% in the 1st quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock valued at $3,107,000 after purchasing an additional 527 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in shares of Shopify by 89.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock valued at $295,000 after purchasing an additional 206 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Company Profile

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.