Evercore ISI upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from an in-line rating to an outperform rating in a research note issued to investors on Thursday, Price Targets.com reports. They currently have $1,770.00 price target on the software maker’s stock.
Several other brokerages have also recently weighed in on SHOP. Mizuho lowered their price target on shares of Shopify from $1,500.00 to $1,400.00 and set a neutral rating on the stock in a research report on Friday, October 29th. Susquehanna Bancshares lowered their price target on shares of Shopify from $1,800.00 to $1,700.00 and set a positive rating on the stock in a research report on Friday, October 29th. Guggenheim reissued a hold rating on shares of Shopify in a research report on Friday, August 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Shopify in a research report on Monday, November 1st. They set a hold rating and a $1,650.00 price target on the stock. Finally, Loop Capital cut shares of Shopify from a buy rating to a hold rating and set a $1,600.00 price target on the stock. in a research report on Monday, November 15th. They noted that the move was a valuation call. Fifteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $1,648.50.
Shares of SHOP opened at $1,323.40 on Thursday. Shopify has a 52-week low of $1,005.14 and a 52-week high of $1,762.92. The company has a quick ratio of 13.97, a current ratio of 13.97 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average is $1,492.29 and its two-hundred day moving average is $1,470.09. The stock has a market cap of $165.11 billion, a PE ratio of 49.33, a price-to-earnings-growth ratio of 12.46 and a beta of 1.46.
Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Thursday, October 28th. The software maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.34. Shopify had a net margin of 81.00% and a return on equity of 5.63%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The firm’s quarterly revenue was up 46.4% on a year-over-year basis. As a group, research analysts anticipate that Shopify will post 3.73 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. D Orazio & Associates Inc. boosted its holdings in Shopify by 533.3% in the third quarter. D Orazio & Associates Inc. now owns 19 shares of the software maker’s stock valued at $26,000 after purchasing an additional 16 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of Shopify in the second quarter valued at approximately $29,000. Stonebridge Capital Advisors LLC boosted its holdings in shares of Shopify by 35.3% in the third quarter. Stonebridge Capital Advisors LLC now owns 23 shares of the software maker’s stock valued at $31,000 after acquiring an additional 6 shares during the period. Delos Wealth Advisors LLC acquired a new stake in shares of Shopify in the second quarter valued at approximately $35,000. Finally, Atlas Private Wealth Advisors acquired a new stake in shares of Shopify in the second quarter valued at approximately $37,000. 59.83% of the stock is owned by hedge funds and other institutional investors.
Shopify Company Profile
Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.
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