Shopify Inc. (NYSE:SHOP) Receives Average Recommendation of "Moderate Buy" from Analysts

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP has received an average recommendation of "Moderate Buy" from the forty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, twenty-four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $78.26.

SHOP has been the topic of several analyst reports. Barclays lifted their target price on shares of Shopify from $63.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 8th. Royal Bank of Canada reissued an "outperform" rating and set a $85.00 target price on shares of Shopify in a research note on Thursday, August 8th. Citigroup lifted their price target on Shopify from $90.00 to $103.00 and gave the company a "buy" rating in a report on Monday. Moffett Nathanson downgraded Shopify from a "buy" rating to a "neutral" rating and lowered their price target for the company from $74.00 to $65.00 in a report on Thursday, June 6th. Finally, KeyCorp assumed coverage on Shopify in a research note on Thursday, July 25th. They issued an "overweight" rating and a $80.00 price objective for the company.

Hedge Funds Weigh In On Shopify

Several large investors have recently made changes to their positions in SHOP. Willis Johnson & Associates Inc. raised its holdings in Shopify by 5.8% in the 1st quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker's stock valued at $211,000 after acquiring an additional 149 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Shopify by 11.4% in the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker's stock valued at $114,000 after acquiring an additional 152 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in Shopify by 4.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 4,178 shares of the software maker's stock valued at $322,000 after acquiring an additional 162 shares in the last quarter. Lazari Capital Management Inc. grew its stake in shares of Shopify by 2.8% in the 2nd quarter. Lazari Capital Management Inc. now owns 6,447 shares of the software maker's stock valued at $426,000 after purchasing an additional 177 shares during the period. Finally, Marks Group Wealth Management Inc grew its stake in shares of Shopify by 3.2% in the 1st quarter. Marks Group Wealth Management Inc now owns 5,890 shares of the software maker's stock valued at $455,000 after purchasing an additional 180 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

NYSE SHOP traded up $0.93 on Monday, reaching $80.14. The company's stock had a trading volume of 4,431,147 shares, compared to its average volume of 9,624,301. Shopify has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The stock has a market cap of $103.27 billion, a PE ratio of -471.41, a PEG ratio of 2.69 and a beta of 2.35. The firm's 50 day moving average is $69.90 and its two-hundred day moving average is $68.46.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.06. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. Shopify's revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) EPS. As a group, sell-side analysts predict that Shopify will post 0.76 EPS for the current year.

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.