Shopify (NYSE:SHOP) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a sell rating to a hold rating in a research note released on Wednesday.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird boosted their price objective on Shopify from $85.00 to $87.00 and gave the company an outperform rating in a research note on Wednesday, April 3rd. Loop Capital decreased their price target on Shopify from $90.00 to $80.00 and set a hold rating on the stock in a research report on Monday, April 15th. UBS Group upped their price target on Shopify from $75.00 to $80.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Wells Fargo & Company decreased their price target on Shopify from $90.00 to $85.00 and set an overweight rating on the stock in a research report on Wednesday, February 14th. Finally, Barclays decreased their price target on Shopify from $70.00 to $68.00 and set an equal weight rating on the stock in a research report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $78.30.

Shopify Trading Up 1.1 %

Shares of Shopify stock opened at $71.30 on Wednesday. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The stock’s 50-day simple moving average is $75.28 and its 200 day simple moving average is $72.50. The stock has a market capitalization of $91.73 billion, a P/E ratio of 792.31 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $2.07 billion. As a group, research analysts anticipate that Shopify will post 0.58 EPS for the current year.

Hedge Funds Weigh In On Shopify

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new position in Shopify during the fourth quarter valued at $26,000. SJS Investment Consulting Inc. lifted its position in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares during the period. DSM Capital Partners LLC purchased a new position in Shopify during the fourth quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in Shopify during the fourth quarter valued at $28,000. Finally, Your Advocates Ltd. LLP raised its position in shares of Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after purchasing an additional 391 shares during the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

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.