Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) had its price target decreased by research analysts at Royal Bank of Canada from $800.00 to $700.00 in a research report issued on Thursday, The Fly reports. Royal Bank of Canada’s target price points to a potential upside of 103.29% from the company’s current price.
Other research analysts have also issued reports about the stock. Jefferies Financial Group cut their target price on shares of Shopify from $550.00 to $475.00 in a research report on Monday, May 23rd. Roth Capital cut their price target on shares of Shopify from $850.00 to $625.00 in a research report on Thursday, April 21st. Citigroup cut their price target on shares of Shopify from $534.00 to $432.00 in a research report on Friday, May 6th. Oppenheimer cut their price target on shares of Shopify from $960.00 to $500.00 in a research report on Thursday, May 5th. Finally, Loop Capital cut their price target on shares of Shopify from $660.00 to $460.00 in a research report on Tuesday, May 3rd. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Shopify presently has an average rating of “Hold” and a consensus target price of $912.26.
Shopify stock opened at $344.33 on Thursday. The stock has a market cap of $43.35 billion, a P/E ratio of 270.83 and a beta of 1.82. Shopify has a fifty-two week low of $297.64 and a fifty-two week high of $1,762.92. The firm’s fifty day moving average price is $395.68 and its 200-day moving average price is $743.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 11.84 and a current ratio of 11.84.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last announced its earnings results on Thursday, May 5th. The software maker reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.31). Shopify had a return on equity of 1.94% and a net margin of 3.77%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter last year, the firm posted $1.32 earnings per share. The firm’s revenue was up 21.7% on a year-over-year basis. Sell-side analysts predict that Shopify will post -4.28 earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. HighMark Wealth Management LLC purchased a new stake in Shopify in the fourth quarter worth approximately $25,000. Blue Bell Private Wealth Management LLC purchased a new stake in Shopify in the fourth quarter worth approximately $25,000. Western Pacific Wealth Management LP purchased a new stake in Shopify in the fourth quarter worth approximately $26,000. Amplius Wealth Advisors LLC purchased a new stake in Shopify in the fourth quarter worth approximately $31,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Shopify by 666.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 23 shares of the software maker’s stock worth $32,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 62.60% of the company’s stock.
About Shopify (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Shopify (SHOP)
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