Shopify (NYSE:SHOP) Lifted to Overweight at Morgan Stanley

Shopify (NYSE:SHOP) (TSE:SHOP) was upgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Friday, MarketBeat.com reports. The brokerage presently has a $85.00 price target on the software maker’s stock, up from their previous price target of $74.00. Morgan Stanley’s target price would suggest a potential upside of 22.28% from the stock’s current price.

A number of other equities research analysts also recently issued reports on SHOP. StockNews.com downgraded shares of Shopify from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price objective on shares of Shopify in a research report on Wednesday, February 14th. Jefferies Financial Group upped their price objective on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, January 5th. Wedbush restated a “neutral” rating and issued a $68.00 price objective on shares of Shopify in a research report on Tuesday, February 13th. Finally, Roth Capital increased their price target on shares of Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Shopify presently has a consensus rating of “Hold” and an average price target of $78.30.

Shopify Price Performance

NYSE SHOP opened at $69.51 on Friday. The company has a market cap of $89.43 billion, a PE ratio of 772.42 and a beta of 2.22. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $76.77 and its two-hundred day simple moving average is $71.73.

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

Institutional Trading of Shopify

Large investors have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC bought a new position in shares of Shopify during the 4th quarter valued at approximately $26,000. SJS Investment Consulting Inc. grew its position in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares during the last quarter. PCA Investment Advisory Services Inc. bought a new position in Shopify in the 2nd quarter valued at $27,000. DSM Capital Partners LLC bought a new position in Shopify in the 4th quarter valued at $28,000. Finally, Jones Financial Companies Lllp bought a new position in Shopify in the 4th quarter valued at $28,000. Institutional investors own 69.27% of the company’s stock.

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.