Shopify (NYSE:SHOP) (TSE:SHOP) had its target price hoisted by Piper Sandler from $1,015.00 to $1,300.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have an overweight rating on the software maker’s stock. Piper Sandler also issued estimates for Shopify’s Q2 2020 earnings at ($0.68) EPS, Q4 2020 earnings at ($0.42) EPS, FY2020 earnings at ($2.05) EPS, Q1 2021 earnings at ($0.59) EPS, Q2 2021 earnings at ($0.72) EPS, Q3 2021 earnings at ($0.62) EPS, Q4 2021 earnings at ($0.20) EPS and FY2021 earnings at ($2.12) EPS.
A number of other research analysts have also recently commented on the stock. ValuEngine cut shares of Shopify from a buy rating to a hold rating in a research report on Friday, May 1st. Pi Financial reissued a buy rating and set a $830.00 target price on shares of Shopify in a research report on Monday, May 4th. Mizuho boosted their target price on shares of Shopify from $350.00 to $600.00 and gave the stock a neutral rating in a research report on Thursday, May 7th. They noted that the move was a valuation call. Oppenheimer began coverage on shares of Shopify in a research report on Wednesday, May 6th. They set a hold rating on the stock. Finally, KeyCorp reaffirmed an overweight rating and issued a $1,125.00 price target (up from $1,000.00) on shares of Shopify in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Shopify has an average rating of Hold and an average price target of $927.71.
SHOP opened at $1,024.00 on Wednesday. The company has a 50 day moving average of $935.14 and a two-hundred day moving average of $641.42. Shopify has a 52-week low of $282.08 and a 52-week high of $1,107.92. The company has a market cap of $120.08 billion, a P/E ratio of 14,628.57 and a beta of 1.61.
Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, July 29th. The software maker reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $1.04. Shopify had a negative net margin of 3.25% and a positive return on equity of 0.32%. The business had revenue of $714.34 million for the quarter, compared to analysts’ expectations of $511.56 million. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 97.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Shopify will post -1.56 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in SHOP. First Trust Advisors LP grew its position in shares of Shopify by 15.6% during the first quarter. First Trust Advisors LP now owns 3,499 shares of the software maker’s stock worth $723,000 after acquiring an additional 472 shares during the last quarter. Vigilare Wealth Management bought a new position in shares of Shopify during the fourth quarter worth about $269,000. Advisors Asset Management Inc. grew its position in shares of Shopify by 139.9% during the fourth quarter. Advisors Asset Management Inc. now owns 451 shares of the software maker’s stock worth $179,000 after acquiring an additional 263 shares during the last quarter. Brinker Capital Inc. grew its position in shares of Shopify by 46.4% during the fourth quarter. Brinker Capital Inc. now owns 1,536 shares of the software maker’s stock worth $611,000 after acquiring an additional 487 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Shopify by 15.6% during the fourth quarter. Geode Capital Management LLC now owns 139,648 shares of the software maker’s stock worth $55,111,000 after acquiring an additional 18,851 shares during the last quarter. Institutional investors and hedge funds own 60.17% 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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