Shopify (NYSE:SHOP) Raised to Overweight at Capital One Financial

Capital One Financial upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from an equal weight rating to an overweight rating in a report published on Thursday morning, MarketBeat.com reports.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on Shopify from $150.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets began coverage on shares of Shopify in a research note on Tuesday, May 6th. They issued an “outperform” rating and a $120.00 target price for the company. Cantor Fitzgerald decreased their price target on shares of Shopify from $120.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. BNP Paribas Exane lowered shares of Shopify from an “outperform” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research report on Monday, May 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.37.

Shopify Stock Performance

SHOP opened at $91.77 on Thursday. The company has a market cap of $118.83 billion, a price-to-earnings ratio of 59.21, a PEG ratio of 4.82 and a beta of 2.66. Shopify has a one year low of $48.56 and a one year high of $129.38. The business’s fifty day moving average is $93.29 and its two-hundred day moving average is $102.89.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. On average, analysts predict that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SHOP. LRI Investments LLC lifted its holdings in Shopify by 9.8% in the 4th quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock worth $94,000 after buying an additional 79 shares in the last quarter. Tidemark LLC lifted its stake in shares of Shopify by 3.6% in the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after acquiring an additional 90 shares in the last quarter. Howland Capital Management LLC boosted its holdings in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares during the last quarter. Trust Co. of Vermont grew its stake in Shopify by 9.9% during the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares in the last quarter. Finally, First United Bank & Trust increased its holdings in Shopify by 2.2% during the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after purchasing an additional 100 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

About Shopify

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.