Shopify's (SHOP) "Neutral" Rating Reiterated at Cantor Fitzgerald

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP's stock had its "neutral" rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued on Monday, Benzinga reports. They presently have a $70.00 price target on the software maker's stock. Cantor Fitzgerald's target price would suggest a potential downside of 13.45% from the company's previous close.

A number of other brokerages have also recently issued reports on SHOP. UBS Group raised their target price on Shopify from $71.00 to $75.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Loop Capital upped their target price on shares of Shopify from $68.00 to $80.00 and gave the company a "hold" rating in a research note on Friday, August 16th. Citigroup boosted their price target on shares of Shopify from $90.00 to $103.00 and gave the company a "buy" rating in a report on Monday, September 30th. Redburn Atlantic raised Shopify from a "neutral" rating to a "buy" rating and set a $99.00 price target on the stock in a research report on Tuesday, September 17th. Finally, Truist Financial decreased their price objective on Shopify from $65.00 to $55.00 and set a "hold" rating for the company in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $78.38.

Shopify Trading Down 1.9 %

Shopify stock traded down $1.55 during mid-day trading on Monday, hitting $80.88. The stock had a trading volume of 5,492,880 shares, compared to its average volume of 9,513,114. The stock has a 50-day simple moving average of $71.79 and a two-hundred day simple moving average of $68.51. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $104.23 billion, a PE ratio of -475.65, a P/E/G ratio of 2.65 and a beta of 2.36. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57.

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

Institutional Trading of Shopify

Institutional investors and hedge funds have recently modified their holdings of the business. GQG Partners LLC grew its position in Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker's stock worth $1,613,006,000 after acquiring an additional 13,885,473 shares during the last quarter. Capital World Investors grew its holdings in shares of Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker's stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker's stock valued at $2,642,265,000 after buying an additional 5,982,434 shares during the period. Mackenzie Financial Corp raised its holdings in Shopify by 49.9% in the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker's stock valued at $417,386,000 after buying an additional 2,102,939 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in Shopify by 214.5% during the 1st quarter. Toronto Dominion Bank now owns 2,909,052 shares of the software maker's stock worth $224,492,000 after buying an additional 1,983,996 shares during the period. 69.27% of the stock is currently owned by institutional investors.

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.