Shopify (NYSE:SHOP) Stock Price Down 0%

Shopify Inc (NYSE:SHOP) (TSE:SHOP) shares were down 0% during mid-day trading on Monday . The company traded as low as $337.64 and last traded at $338.25, approximately 116,674 shares changed hands during mid-day trading. A decline of 95% from the average daily volume of 2,412,440 shares. The stock had previously closed at $338.31.

A number of equities research analysts recently issued reports on SHOP shares. William Blair reissued a “hold” rating on shares of Shopify in a report on Tuesday, September 10th. Barclays increased their target price on shares of Shopify from $225.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, June 21st. Credit Suisse Group reaffirmed a “buy” rating and set a $370.00 target price on shares of Shopify in a research note on Wednesday, September 11th. Roth Capital set a $325.00 target price on shares of Shopify and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Raymond James increased their target price on shares of Shopify from $270.00 to $365.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $335.88.

The firm has a market cap of $39.78 billion, a price-to-earnings ratio of -553.98 and a beta of 1.23. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $361.88 and its 200-day moving average price is $284.13.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.45. The business had revenue of $361.98 million for the quarter, compared to analysts’ expectations of $350.59 million. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The business’s quarterly revenue was up 47.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. On average, sell-side analysts predict that Shopify Inc will post -0.82 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of SHOP. Comerica Securities Inc. lifted its position in shares of Shopify by 32.4% during the fourth quarter. Comerica Securities Inc. now owns 3,005 shares of the software maker’s stock worth $416,000 after purchasing an additional 735 shares in the last quarter. Comerica Bank lifted its position in shares of Shopify by 1.0% during the first quarter. Comerica Bank now owns 9,102 shares of the software maker’s stock worth $1,880,000 after purchasing an additional 89 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Shopify by 20.5% during the first quarter. Stephens Inc. AR now owns 3,287 shares of the software maker’s stock worth $679,000 after purchasing an additional 560 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in shares of Shopify by 12.7% during the first quarter. First Allied Advisory Services Inc. now owns 1,890 shares of the software maker’s stock worth $390,000 after purchasing an additional 213 shares in the last quarter. Finally, Cetera Advisors LLC lifted its position in shares of Shopify by 11.0% during the first quarter. Cetera Advisors LLC now owns 1,935 shares of the software maker’s stock worth $400,000 after purchasing an additional 191 shares in the last quarter. 59.68% of the stock is currently owned by institutional investors and hedge funds.

About Shopify (NYSE:SHOP)

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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