Shopify Inc. (NYSE:SHOP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Shopify Inc. (NYSE:SHOPGet Free Report) (TSE:SHOP) have received an average rating of “Moderate Buy” from the forty-one analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $78.38.

A number of equities analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Shopify in a report on Tuesday, September 10th. Evercore upped their price target on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Barclays lifted their price objective on shares of Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, Benchmark reaffirmed a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th.

Read Our Latest Research Report on SHOP

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SHOP. Massmutual Trust Co. FSB ADV lifted its holdings in Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after acquiring an additional 129 shares during the period. Willis Johnson & Associates Inc. lifted its stake in shares of Shopify by 5.8% in the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares during the period. Valley National Advisers Inc. boosted its holdings in Shopify by 11.4% during the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock worth $114,000 after buying an additional 152 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings in Shopify by 4.0% during the first quarter. Checchi Capital Advisers LLC now owns 4,178 shares of the software maker’s stock worth $322,000 after buying an additional 162 shares in the last quarter. Finally, Lazari Capital Management Inc. grew its position in Shopify by 2.8% during the second quarter. Lazari Capital Management Inc. now owns 6,447 shares of the software maker’s stock valued at $426,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Trading Up 5.5 %

Shares of SHOP opened at $82.43 on Monday. The company’s fifty day simple moving average is $71.79 and its 200-day simple moving average is $68.51. The company has a market cap of $106.23 billion, a P/E ratio of -484.88, a P/E/G ratio of 2.65 and a beta of 2.36. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company posted ($0.08) EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, analysts expect that Shopify will post 0.76 EPS for the current year.

Shopify Company Profile

(Get Free Report

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.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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