Shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) have received an average rating of “Buy” from the twenty-nine research firms that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twenty have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $48.45.
SHOP has been the topic of several recent research reports. Goldman Sachs Group Inc. initiated coverage on Shopify in a report on Tuesday, October 4th. They set a “buy” rating and a $53.00 target price on the stock. Mackie initiated coverage on Shopify in a report on Tuesday, November 29th. They set a “buy” rating and a $60.00 target price on the stock. Morgan Stanley cut Shopify from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $37.00 to $47.00 in a report on Wednesday, September 28th. They noted that the move was a valuation call. Piper Jaffray Cos. restated a “buy” rating and set a $50.00 target price on shares of Shopify in a report on Wednesday, November 2nd. Finally, Pacific Crest restated a “buy” rating on shares of Shopify in a report on Friday, October 7th.
Shopify (NYSE:SHOP) opened at 49.98 on Thursday. Shopify has a 12-month low of $18.58 and a 12-month high of $50.00. The firm’s 50-day moving average price is $43.34 and its 200 day moving average price is $40.65. The stock’s market capitalization is $4.45 billion.
Shopify (NYSE:SHOP) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Shopify had a negative return on equity of 13.30% and a negative net margin of 9.96%. The company earned $99.60 million during the quarter, compared to analyst estimates of $94.62 million. During the same period in the previous year, the business earned ($0.03) EPS. Shopify’s quarterly revenue was up 88.6% on a year-over-year basis. On average, equities analysts anticipate that Shopify will post ($0.14) EPS for the current year.
Several hedge funds have recently bought and sold shares of SHOP. Price T Rowe Associates Inc. MD raised its stake in Shopify by 35.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 4,191,007 shares of the company’s stock worth $179,878,000 after buying an additional 1,099,614 shares in the last quarter. LPL Financial LLC bought a new stake in Shopify during the third quarter worth $467,000. Credit Suisse AG raised its stake in Shopify by 21.0% in the third quarter. Credit Suisse AG now owns 26,340 shares of the company’s stock worth $1,131,000 after buying an additional 4,579 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Shopify during the third quarter worth $1,962,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Shopify by 53.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,635,131 shares of the company’s stock worth $70,033,000 after buying an additional 569,800 shares in the last quarter. 68.99% of the stock is currently owned by institutional investors and hedge funds.
Shopify Company Profile
Shopify Inc is a provider of cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, social media storefronts, such as Facebook, Twitter and Pinterest, and physical retail locations.