Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) shares gapped up before the market opened on Monday . The stock had previously closed at $36.79, but opened at $39.00. Shopify shares last traded at $39.91, with a volume of 444,314 shares trading hands.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. Atlantic Securities raised shares of Shopify from a "neutral" rating to an "overweight" rating and set a $46.00 target price on the stock in a research note on Thursday, August 11th. Moffett Nathanson started coverage on shares of Shopify in a research note on Tuesday, November 15th. They set a "market perform" rating and a $30.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Shopify from $38.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, October 28th. DZ Bank lowered shares of Shopify from a "buy" rating to a "hold" rating in a research note on Wednesday, August 10th. Finally, TD Securities boosted their price objective on shares of Shopify from $35.00 to $38.00 and gave the stock a "hold" rating in a research note on Friday, October 28th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $57.25.
Get Shopify alerts:Shopify Stock Down 2.3 %
The company has a market capitalization of $46.92 billion, a PE ratio of -14.65 and a beta of 1.88. The company's 50 day moving average is $31.73 and its two-hundred day moving average is $36.05. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.15.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last posted its earnings results on Thursday, October 27th. The software maker reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.33 billion. Shopify had a negative net margin of 61.17% and a negative return on equity of 3.82%. On average, analysts anticipate that Shopify Inc. will post -0.5 earnings per share for the current year.Hedge Funds Weigh In On Shopify
Several institutional investors have recently bought and sold shares of SHOP. Evoke Wealth LLC grew its stake in Shopify by 790.1% during the second quarter. Evoke Wealth LLC now owns 810 shares of the software maker's stock valued at $25,000 after acquiring an additional 719 shares in the last quarter. Gradient Investments LLC grew its stake in shares of Shopify by 978.9% in the 2nd quarter. Gradient Investments LLC now owns 820 shares of the software maker's stock worth $26,000 after buying an additional 744 shares in the last quarter. Trustcore Financial Services LLC grew its stake in shares of Shopify by 2,100.0% in the 2nd quarter. Trustcore Financial Services LLC now owns 880 shares of the software maker's stock worth $27,000 after buying an additional 840 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Shopify by 352.1% in the 2nd quarter. Larson Financial Group LLC now owns 850 shares of the software maker's stock worth $27,000 after buying an additional 662 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in shares of Shopify by 1,680.0% in the 2nd quarter. CVA Family Office LLC now owns 890 shares of the software maker's stock worth $28,000 after buying an additional 840 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.
Shopify Company Profile
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Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.
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