Shopify’s (SHOP) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report sent to investors on Tuesday morning, Benzinga reports.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada restated an outperform rating and set a $100.00 price target on shares of Shopify in a research note on Wednesday, February 14th. ATB Capital raised their price target on Shopify from $105.00 to $110.00 and gave the company a sector perform rating in a research note on Wednesday, February 14th. BNP Paribas lowered Shopify from a neutral rating to an underperform rating in a research note on Thursday, January 18th. Jefferies Financial Group raised their price target on Shopify from $65.00 to $80.00 and gave the company a hold rating in a research note on Friday, January 5th. Finally, DA Davidson raised their price target on Shopify from $86.00 to $90.00 and gave the company a buy rating in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $78.00.

Shopify Stock Performance

SHOP stock opened at $69.51 on Tuesday. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $76.77 and its two-hundred day simple moving average is $71.73. Shopify has a twelve month low of $45.50 and a twelve month high of $91.57. The firm has a market cap of $89.43 billion, a price-to-earnings ratio of 772.42 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.07 billion. Analysts predict that Shopify will post 0.58 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

A number of large investors have recently bought and sold shares of the company. SeaCrest Wealth Management LLC boosted its position in Shopify by 6.6% in the first quarter. SeaCrest Wealth Management LLC now owns 6,195 shares of the software maker’s stock valued at $478,000 after buying an additional 382 shares during the last quarter. CAP Partners LLC boosted its position in Shopify by 4.0% in the first quarter. CAP Partners LLC now owns 16,538 shares of the software maker’s stock valued at $1,276,000 after buying an additional 636 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Shopify by 10.1% in the first quarter. Miracle Mile Advisors LLC now owns 3,444 shares of the software maker’s stock valued at $266,000 after buying an additional 316 shares during the last quarter. SteelPeak Wealth LLC boosted its position in Shopify by 28.4% in the first quarter. SteelPeak Wealth LLC now owns 53,491 shares of the software maker’s stock valued at $4,128,000 after buying an additional 11,824 shares during the last quarter. Finally, Fiduciary Alliance LLC boosted its position in Shopify by 128.7% in the first quarter. Fiduciary Alliance LLC now owns 6,557 shares of the software maker’s stock valued at $513,000 after buying an additional 3,690 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.