StockNews.com Upgrades Shopify (NYSE:SHOP) to Hold

StockNews.com upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a sell rating to a hold rating in a report issued on Wednesday morning.

Several other equities research analysts also recently commented on SHOP. Wells Fargo & Company lowered their price objective on shares of Shopify from $90.00 to $85.00 and set an overweight rating for the company in a research note on Wednesday, February 14th. CIBC lifted their price objective on shares of Shopify from $82.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday, February 7th. Wedbush restated a neutral rating and set a $68.00 target price on shares of Shopify in a research report on Tuesday, February 13th. UBS Group boosted their target price on shares of Shopify from $75.00 to $80.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Finally, ATB Capital boosted their target price on shares of Shopify from $105.00 to $110.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $78.30.

Shopify Trading Up 1.1 %

NYSE:SHOP opened at $71.33 on Wednesday. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The firm has a fifty day simple moving average of $75.28 and a 200-day simple moving average of $72.63. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $91.77 billion, a P/E ratio of 792.64 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. On average, equities research analysts anticipate that Shopify will post 0.58 earnings per share for the current year.

Institutional Trading of Shopify

A number of hedge funds have recently bought and sold shares of SHOP. Private Wealth Management Group LLC acquired a new stake in Shopify in the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. raised its holdings in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares during the last quarter. DSM Capital Partners LLC acquired a new stake in Shopify in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new stake in Shopify in the 4th quarter valued at about $28,000. Finally, Your Advocates Ltd. LLP raised its holdings in Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after acquiring an additional 391 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.