Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP's stock price rose 0.2% on Tuesday . The stock traded as high as $111.00 and last traded at $109.45. Approximately 1,805,507 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 8,608,385 shares. The stock had previously closed at $109.28.
Wall Street Analysts Forecast Growth
SHOP has been the subject of several recent analyst reports. Truist Financial boosted their price objective on Shopify from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of Shopify from $126.00 to $144.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Phillip Securities lowered shares of Shopify from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, February 17th. JPMorgan Chase & Co. raised their price target on Shopify from $121.00 to $124.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 price objective on shares of Shopify in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Shopify currently has an average rating of "Moderate Buy" and an average target price of $126.31.
View Our Latest Stock Analysis on SHOP
Shopify Stock Down 5.9 %
The company has a market capitalization of $124.96 billion, a P/E ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The company has a 50-day moving average of $110.21 and a two-hundred day moving average of $100.55.
Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, equities analysts expect that Shopify Inc. will post 1.12 EPS for the current fiscal year.
Hedge Funds Weigh In On Shopify
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors lifted its stake in shares of Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker's stock worth $5,646,455,000 after buying an additional 496,982 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Shopify by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker's stock worth $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. FMR LLC raised its stake in shares of Shopify by 3.4% in the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker's stock worth $4,653,054,000 after purchasing an additional 1,426,000 shares during the last quarter. Capital International Investors raised its stake in shares of Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker's stock worth $3,883,039,000 after purchasing an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker's stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. Institutional investors own 69.27% of the company's stock.
About Shopify
(
Get Free Report)
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.
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