Shopify Inc (US) (SHOP) Boosted to Purchase by Vetr Inc.

Shopify Inc (US) (SHOP) Boosted to Purchase by Vetr Inc.

Vetr upgraded shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SH) from a hold rating to a buy rating in a research note released on Tuesday morning. The brokerage currently has $100.00 price objective on the software maker’s stock.

Several other research firms have also issued reports on SHOP. Robert W. Baird reiterated an outperform rating and set a $95.00 target price on shares of Shopify Inc (US) in a report on Monday, May 15th. Roth Capital upped their price objective on Shopify Inc (US) from $82.00 to $92.00 and gave the company a buy rating in a research note on Monday, May 15th. Industrial Alliance Securities upped their price objective on Shopify Inc (US) from $87.00 to $134.00 and gave the company a buy rating in a research note on Friday, May 26th. Credit Suisse Group AG restated an outperform rating and issued a $95.00 price objective on shares of Shopify Inc (US) in a research note on Tuesday, May 23rd. Finally, CSFB restated an outperform rating and issued a $128.00 price objective on shares of Shopify Inc (US) in a research note on Tuesday, May 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Shopify Inc (US) currently has an average rating of Buy and an average target price of $76.65.

Shares of Shopify Inc (NYSE SHOP) opened at 97.53 on Tuesday. The firm’s market capitalization is $8.92 billion. The company’s 50 day moving average price is $85.07 and its 200 day moving average price is $61.50. Shopify Inc has a 52-week low of $26.35 and a 52-week high of $97.85.

Shopify Inc (US) (NYSE:SHOP) last released its earnings results on Tuesday, May 2nd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.07. Shopify Inc (US) had a negative return on equity of 13.30% and a negative net margin of 9.96%. The business had revenue of $127.40 million for the quarter, compared to analyst estimates of $121.67 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Shopify Inc (US)’s revenue was up 75.2% on a year-over-year basis. Analysts forecast that Shopify Inc will post ($0.14) earnings per share for the current year.

A number of large investors have recently modified their holdings of SHOP. Burgundy Asset Management Ltd. bought a new stake in shares of Shopify Inc (US) during the fourth quarter worth about $429,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Shopify Inc (US) by 1.6% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,800 shares of the software maker’s stock worth $1,921,000 after buying an additional 700 shares in the last quarter. Fusion Family Wealth LLC bought a new stake in shares of Shopify Inc (US) during the fourth quarter worth about $108,000. Private Advisory Group LLC bought a new stake in shares of Shopify Inc (US) during the fourth quarter worth about $217,000. Finally, Pier 88 Investment Partners LLC bought a new stake in shares of Shopify Inc (US) during the fourth quarter worth about $322,000. 69.10% of the stock is currently owned by institutional investors and hedge funds.

Shopify Inc (US) Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SHOP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view Vetr’s full report, visit Vetr’s official website.

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