Shopify (NYSE:SHOP) Stock Rating Reaffirmed by Guggenheim

Guggenheim reiterated their hold rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report released on Tuesday, TipRanks reports.

SHOP has been the topic of a number of other research reports. Jefferies Financial Group set a $300.00 price objective on Shopify and gave the stock a hold rating in a research report on Tuesday, September 10th. Roth Capital set a $325.00 price target on Shopify and gave the company a hold rating in a report on Tuesday, September 10th. Credit Suisse Group reissued a buy rating and issued a $370.00 price target on shares of Shopify in a research report on Wednesday, September 11th. Piper Jaffray Companies set a $320.00 price objective on Shopify and gave the stock a hold rating in a research note on Tuesday, September 10th. Finally, Rosenblatt Securities reaffirmed a buy rating and set a $481.00 price objective on shares of Shopify in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Shopify has a consensus rating of Hold and a consensus target price of $335.88.

Shares of NYSE:SHOP opened at $363.36 on Tuesday. The company has a 50 day moving average of $317.22 and a 200 day moving average of $323.45. The company has a current ratio of 11.21, a quick ratio of 11.21 and a debt-to-equity ratio of 0.04. The stock has a market cap of $38.84 billion, a P/E ratio of -595.66 and a beta of 1.18. Shopify has a 12 month low of $117.64 and a 12 month high of $409.61.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.08. Shopify had a negative net margin of 8.97% and a negative return on equity of 3.36%. The business had revenue of $390.55 million for the quarter, compared to analysts’ expectations of $384.05 million. On average, equities analysts forecast that Shopify will post -1.21 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP raised its holdings in shares of Shopify by 15.6% in the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock worth $723,000 after buying an additional 472 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Shopify during the second quarter worth $143,000. Regal Investment Advisors LLC purchased a new stake in shares of Shopify during the second quarter valued at $228,000. SG Americas Securities LLC grew its holdings in shares of Shopify by 266.4% during the second quarter. SG Americas Securities LLC now owns 19,109 shares of the software maker’s stock valued at $5,736,000 after buying an additional 13,894 shares during the last quarter. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Shopify during the second quarter valued at $203,000. 58.43% of the stock is currently owned by institutional investors.

About Shopify

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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Analyst Recommendations for Shopify (NYSE:SHOP)

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