Shopify Inc. (NYSE:SHOP) (TSE:SH) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday. The brokerage currently has a $102.78 price objective on the software maker’s stock. Vetr‘s price target indicates a potential upside of 11.52% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Credit Suisse Group reiterated an “outperform” rating and set a $95.00 price objective on shares of Shopify in a research report on Tuesday, May 23rd. BidaskClub cut shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. CSFB reiterated an “outperform” rating and set a $128.00 price objective on shares of Shopify in a research report on Tuesday, May 23rd. Benchmark Co. began coverage on shares of Shopify in a research report on Wednesday, July 12th. They set a “hold” rating on the stock. Finally, William Blair reiterated a “market perform” rating on shares of Shopify in a research report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $79.13.
Shares of Shopify (SHOP) opened at 92.16 on Monday. Shopify has a 12-month low of $31.83 and a 12-month high of $100.80. The stock’s market capitalization is $8.43 billion. The stock has a 50 day moving average price of $90.76 and a 200 day moving average price of $73.91.
Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings results on Tuesday, May 2nd. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. Shopify had a negative net margin of 9.01% and a negative return on equity of 11.26%. The firm had revenue of $127.40 million for the quarter, compared to analyst estimates of $121.67 million. During the same quarter in the previous year, the business posted ($0.06) earnings per share. The firm’s quarterly revenue was up 75.2% compared to the same quarter last year. On average, equities analysts anticipate that Shopify will post ($0.14) earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new stake in Shopify during the fourth quarter valued at about $203,000. Norges Bank acquired a new stake in Shopify during the fourth quarter valued at about $14,251,000. Macquarie Group Ltd. raised its stake in Shopify by 8.3% in the fourth quarter. Macquarie Group Ltd. now owns 76,568 shares of the software maker’s stock valued at $3,282,000 after buying an additional 5,900 shares during the last quarter. Nadler Financial Group Inc. acquired a new stake in Shopify during the first quarter valued at about $205,000. Finally, Creative Planning raised its stake in Shopify by 457.7% in the first quarter. Creative Planning now owns 10,574 shares of the software maker’s stock valued at $720,000 after buying an additional 8,678 shares during the last quarter. 61.37% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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