Shopify (NYSE:SHOP) Lifted to Buy at Citigroup

Citigroup upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a neutral rating to a buy rating in a research report report published on Monday morning, MarketBeat.com reports. They currently have $105.00 price objective on the software maker’s stock, up from their previous price objective of $93.00.

Other equities research analysts also recently issued reports about the company. Truist Financial lifted their price objective on Shopify from $65.00 to $90.00 and gave the stock a hold rating in a report on Monday, February 12th. CIBC increased their target price on Shopify from $82.00 to $100.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. BNP Paribas cut Shopify from a neutral rating to an underperform rating in a report on Thursday, January 18th. Barclays decreased their price target on Shopify from $70.00 to $68.00 and set an equal weight rating on the stock in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group increased their price objective on Shopify from $65.00 to $80.00 and gave the company a hold rating in a research report on Friday, January 5th. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $78.62.

Shopify Trading Up 0.3 %

Shares of SHOP stock opened at $70.38 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm has a market capitalization of $90.55 billion, a PE ratio of 782.09 and a beta of 2.22. Shopify has a 1-year low of $45.50 and a 1-year high of $91.57. The business’s fifty day moving average price is $74.83 and its 200 day moving average price is $73.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, sell-side analysts forecast that Shopify will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Wealth Management Group LLC bought a new position in Shopify during the fourth quarter worth about $26,000. SJS Investment Consulting Inc. boosted its holdings in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the period. DSM Capital Partners LLC bought a new stake in shares of Shopify during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in shares of Shopify during the fourth quarter worth approximately $28,000. Finally, Your Advocates Ltd. LLP boosted its holdings in shares of Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares during the period. Institutional investors 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.