Shopify’s (SHOP) “Hold (C)” Rating Reiterated at Weiss Ratings

Shopify (NASDAQ:SHOP) (TSE:SHOP)‘s stock had its “hold (c)” rating reissued by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on SHOP. Benchmark reaffirmed a “buy” rating and set a $140.00 target price (up from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Arete Research raised Shopify to a “hold” rating in a research report on Wednesday, July 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $149.00 target price on shares of Shopify in a research report on Tuesday, September 30th. Evercore ISI upped their target price on Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Finally, DA Davidson increased their price objective on Shopify from $125.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $151.95.

Shopify Stock Performance

NASDAQ SHOP opened at $166.43 on Wednesday. The company has a market cap of $216.30 billion, a P/E ratio of 92.98, a P/E/G ratio of 7.55 and a beta of 2.72. The business’s 50 day moving average price is $145.13 and its 200-day moving average price is $118.40. Shopify has a fifty-two week low of $69.84 and a fifty-two week high of $169.69.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.55 billion. Shopify had a return on equity of 12.30% and a net margin of 23.42%.Shopify’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.26 EPS. As a group, equities analysts predict that Shopify will post 1.12 EPS for the current year.

Institutional Trading of Shopify

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Family Legacy Financial Solutions LLC acquired a new stake in Shopify during the second quarter worth about $25,000. Financial Gravity Companies Inc. acquired a new stake in Shopify during the second quarter worth about $27,000. Rothschild Investment LLC grew its holdings in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after acquiring an additional 75 shares during the period. Heartwood Wealth Advisors LLC acquired a new stake in Shopify during the third quarter worth about $27,000. Finally, Tradewinds Capital Management LLC grew its holdings in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after acquiring an additional 100 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

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.