A number of other brokerages also recently weighed in on SHOP. Vetr downgraded Shopify from a strong-buy rating to a buy rating and set a $101.99 target price on the stock. in a report on Thursday, June 22nd. Roth Capital reiterated a buy rating and issued a $92.00 target price (up previously from $82.00) on shares of Shopify in a report on Friday, May 5th. Barclays PLC upped their target price on Shopify from $64.00 to $70.00 and gave the company an equal weight rating in a report on Wednesday, May 3rd. BidaskClub downgraded Shopify from a strong-buy rating to a buy rating in a report on Wednesday, July 5th. Finally, Robert W. Baird reiterated an outperform rating on shares of Shopify in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $88.33.
Shares of Shopify (NYSE:SHOP) traded up 3.74% during midday trading on Wednesday, hitting $91.71. 1,951,120 shares of the stock were exchanged. The stock’s 50-day moving average price is $92.14 and its 200 day moving average price is $77.97. Shopify has a one year low of $37.00 and a one year high of $105.79. The stock’s market cap is $9.04 billion.
Shopify (NYSE:SHOP) (TSE:SH) last issued its earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. The company had revenue of $151.70 million for the quarter, compared to the consensus estimate of $143.94 million. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The firm’s quarterly revenue was up 75.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. On average, analysts anticipate that Shopify will post ($0.05) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in Shopify during the fourth quarter valued at $203,000. Norges Bank purchased a new position in shares of Shopify during the fourth quarter valued at approximately $14,251,000. Macquarie Group Ltd. boosted its position in shares of 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 period. Creative Planning boosted its position in shares of 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 period. Finally, Fox Run Management L.L.C. purchased a new position in shares of Shopify during the first quarter valued at approximately $810,000. 61.47% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Shopify Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify Inc. and related companies with MarketBeat.com's FREE daily email newsletter.