Shopify Inc. (NYSE:SHOP) Receives $79.03 Consensus Target Price from Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been assigned a consensus rating of “Hold” from the thirty-five analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $76.86.

Several research analysts have weighed in on the stock. Mizuho decreased their price objective on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday. CIBC lowered their price objective on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a report on Thursday. Benchmark reaffirmed a “hold” rating on shares of Shopify in a report on Tuesday. Truist Financial boosted their price target on Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a report on Monday, February 12th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $68.00 price objective on shares of Shopify in a report on Tuesday, February 13th.

Shopify Trading Down 0.4 %

Shares of SHOP opened at $62.47 on Friday. Shopify has a one year low of $45.50 and a one year high of $91.57. The stock has a 50-day moving average price of $74.48 and a 200 day moving average price of $73.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. The company has a market capitalization of $80.37 billion, a P/E ratio of 694.11 and a beta of 2.20.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. The company 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%. Sell-side analysts forecast that Shopify will post 0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Asset Management One Co. Ltd. bought a new stake in Shopify during the third quarter worth approximately $47,000. Commonwealth Equity Services LLC grew its holdings in shares of Shopify by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 384,168 shares of the software maker’s stock worth $20,964,000 after acquiring an additional 6,066 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Shopify by 1.7% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 261,013 shares of the software maker’s stock worth $14,243,000 after purchasing an additional 4,261 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Shopify by 17.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 200,000 shares of the software maker’s stock valued at $10,914,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Shopify by 3.2% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 18,777 shares of the software maker’s stock valued at $1,025,000 after purchasing an additional 581 shares during the period. 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.