Shopify Inc. $SHOP Shares Acquired by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC increased its stake in shares of Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP) by 19.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 53,227 shares of the software maker’s stock after buying an additional 8,508 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Shopify were worth $7,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SHOP. Fortitude Family Office LLC acquired a new stake in shares of Shopify during the 3rd quarter valued at $29,000. MADDEN SECURITIES Corp acquired a new position in shares of Shopify in the third quarter worth $30,000. Laurel Wealth Advisors LLC acquired a new position in shares of Shopify in the third quarter worth $32,000. Graney & King LLC acquired a new position in shares of Shopify in the first quarter worth $27,000. Finally, Trellis Wealth Advisors LLC purchased a new stake in shares of Shopify during the third quarter worth $37,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. Truist Financial set a $180.00 price objective on Shopify and gave the company a “buy” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft raised their price target on Shopify from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citizens Jmp lifted their price target on Shopify from $150.00 to $185.00 and gave the company a “market outperform” rating in a report on Thursday, August 6th. Wells Fargo & Company reissued an “overweight” rating and issued a $205.00 price target (down from $208.00) on shares of Shopify in a research note on Wednesday. Finally, Cantor Fitzgerald lowered their price target on Shopify from $158.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $178.79.

Key Stories Impacting Shopify

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify reported Q3 revenue of $3.74 billion, up 31.6% year over year, and earnings per share of $0.49, above consensus. Free cash flow rose 61% to $816 million, while operating income increased 66%. Read More.
• Positive Sentiment: Analyst actions were broadly supportive: National Bank Financial raised its target to $185 and reaffirmed “outperform,” while RBC maintained “outperform” with a $200 target. UBS raised its target to $160 but kept a neutral rating. Read More. · Read More. · Read More.
• Positive Sentiment: ARK Invest reportedly bought $12.5 million of Shopify shares during the post-earnings weakness, providing a vote of confidence from a prominent growth investor. Read More.
• Neutral Sentiment: Shopify highlighted growing AI-driven shopping activity, expanding payments penetration and rising Shop Pay usage. These initiatives could support future growth, though their financial contribution remains to be proven. Read More.
• Negative Sentiment: The quarter fell short of expectations on gross merchandise volume (about $119.1 billion) and subscription revenue; some reports also cited a modest revenue miss. The shortfalls triggered the recent sell-off and keep expectations for holiday-quarter execution high. Read More.
• Negative Sentiment: Valuation remains a risk: Shopify trades at a rich earnings multiple, leaving the stock vulnerable if growth or margins disappoint. Cantor Fitzgerald cut its target to $150 and retained a neutral rating. Read More.

Shopify Stock Up 7.3%

SHOP stock opened at $153.03 on Thursday. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 0.01. Shopify Inc. has a 1 year low of $94.00 and a 1 year high of $180.88. The company has a fifty day simple moving average of $152.75 and a 200 day simple moving average of $130.11. The firm has a market cap of $196.90 billion, a PE ratio of 93.31, a PEG ratio of 2.94 and a beta of 2.65.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 3rd. The software maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.33 by $0.16. The firm had revenue of $3.74 billion for the quarter. Shopify had a net margin of 15.01% and a return on equity of 13.99%. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 earnings per share. Sell-side analysts anticipate that Shopify Inc. will post 1.46 EPS for the current fiscal year.

Shopify Profile

Shopify Inc is a commerce technology company that provides tools for businesses of various sizes to start, operate and grow online and in physical retail environments. Its platform supports online storefronts, product and inventory management, order processing, marketing, analytics and customer engagement.

The company offers subscription-based plans and merchant solutions, including Shopify Payments, Shopify POS, Shopify Capital and tools for shipping, checkout and fulfillment. Shopify also supports sales through multiple channels, such as merchants’ own websites, mobile devices, social media and third-party marketplaces.

Shopify was founded in 2006 by Tobias Lütke, Daniel Weinand and Scott Lake after the founders developed an online store for snowboarding equipment.