Canaccord Genuity restated their buy rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report report published on Thursday, Briefing.com Automated Import reports. The brokerage currently has a $360.00 target price on the software maker’s stock, up from their prior target price of $270.00.
Other equities research analysts also recently issued reports about the stock. Roth Capital upped their target price on shares of Shopify from $275.00 to $225.00 in a research note on Tuesday, April 30th. Robert W. Baird boosted their price target on shares of Shopify from $208.00 to $269.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. Zacks Investment Research cut shares of Shopify from a buy rating to a hold rating in a report on Thursday, May 16th. Piper Jaffray Companies boosted their price target on shares of Shopify from $149.00 to $216.00 and gave the stock a neutral rating in a report on Tuesday, April 30th. Finally, Macquarie boosted their price target on shares of Shopify to $230.00 and gave the stock an outperform rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the stock. Shopify presently has an average rating of Buy and a consensus target price of $283.63.
Shares of SHOP opened at $326.85 on Thursday. Shopify has a fifty-two week low of $117.64 and a fifty-two week high of $338.94. The company has a market cap of $36.44 billion, a P/E ratio of -535.82 and a beta of 1.35. The company has a current ratio of 12.56, a quick ratio of 12.57 and a debt-to-equity ratio of 0.05.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, April 30th. The software maker reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.44. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.74%. The firm had revenue of $320.50 million for the quarter, compared to the consensus estimate of $310.11 million. During the same period in the prior year, the firm earned $0.04 EPS. The firm’s revenue for the quarter was up 49.6% on a year-over-year basis. On average, research analysts forecast that Shopify will post -0.79 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Capital Financial Planning LLC acquired a new position in shares of Shopify in the 4th quarter valued at $26,000. Murphy Pohlad Asset Management LLC acquired a new stake in Shopify during the 4th quarter worth $27,000. Valeo Financial Advisors LLC boosted its stake in Shopify by 328.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 137 shares of the software maker’s stock worth $28,000 after purchasing an additional 105 shares during the period. Tortoise Investment Management LLC acquired a new stake in Shopify during the 1st quarter worth $29,000. Finally, Sound Income Strategies LLC boosted its stake in Shopify by 8,100.0% during the 1st quarter. Sound Income Strategies LLC now owns 164 shares of the software maker’s stock worth $34,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 66.47% of the company’s stock.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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