Shopify Inc. (NYSE:SHOP) (TSE:SH) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Tuesday, May 30th. The firm currently has a $100.00 price objective on the software maker’s stock. Vetr‘s price target points to a potential upside of 15.04% from the company’s current price.
SHOP has been the subject of a number of other reports. CSFB reissued an “outperform” rating and set a $128.00 target price on shares of Shopify in a research report on Tuesday, May 23rd. Summit Redstone raised their price objective on shares of Shopify from $48.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, February 16th. Royal Bank of Canada raised their price objective on shares of Shopify from $77.00 to $78.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 3rd. Robert W. Baird raised their price objective on shares of Shopify from $48.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, February 15th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $75.00 price objective (up from $65.00) on shares of Shopify in a report on Tuesday, March 21st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Shopify has an average rating of “Buy” and an average target price of $78.31.
Shares of Shopify (NYSE SHOP) opened at 86.93 on Tuesday. Shopify has a one year low of $26.35 and a one year high of $100.80. The company’s market cap is $7.95 billion. The stock’s 50 day moving average price is $89.75 and its 200-day moving average price is $64.92.
Shopify (NYSE:SHOP) (TSE:SH) last released its earnings results on Tuesday, May 2nd. The software maker reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.07. Shopify had a negative net margin of 9.01% and a negative return on equity of 11.26%. The firm had revenue of $127.40 million during the quarter, compared to the consensus estimate of $121.67 million. During the same period in the prior year, the firm earned ($0.06) EPS. The company’s revenue was up 75.2% compared to the same quarter last year. On average, analysts expect that Shopify will post ($0.14) EPS for the current year.
Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Shopify during the fourth quarter valued at $2,037,000. Hitchwood Capital Management LP bought a new stake in Shopify during the third quarter valued at $13,091,000. Toronto Dominion Bank boosted its stake in Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock valued at $111,000 after buying an additional 973 shares during the period. AQR Capital Management LLC bought a new stake in Shopify during the fourth quarter valued at $203,000. Finally, Penserra Capital Management LLC boosted its stake in Shopify by 76.5% in the first quarter. Penserra Capital Management LLC now owns 3,300 shares of the software maker’s stock valued at $224,000 after buying an additional 1,430 shares during the period. Hedge funds and other institutional investors own 61.42% of the company’s stock.
Shopify Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
To view Vetr’s full report, visit Vetr’s official website.
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