Shopify (SHOP) Shares Gap Up to $138.15

Shopify Inc (NYSE:SHOP) (TSE:SHOP) shares gapped up before the market opened on Thursday . The stock had previously closed at $143.80, but opened at $138.15. Shopify shares last traded at $141.75, with a volume of 50187 shares trading hands.

Several research analysts have weighed in on SHOP shares. Rosenblatt Securities set a $190.00 price objective on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Macquarie set a $185.00 price objective on shares of Shopify and gave the stock a “buy” rating in a report on Friday, October 26th. Piper Jaffray Companies downgraded shares of Shopify from an “overweight” rating to a “neutral” rating and set a $145.00 price objective on the stock. in a report on Tuesday, July 31st. Robert W. Baird upped their price objective on shares of Shopify from $150.00 to $165.00 and gave the stock an “outperform” rating in a report on Tuesday, July 31st. Finally, Royal Bank of Canada upped their price objective on shares of Shopify from $157.00 to $159.00 and gave the stock a “sector perform” rating in a report on Saturday, October 27th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Shopify presently has an average rating of “Buy” and an average price target of $166.59.

The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 0.01.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Thursday, October 25th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.34. Shopify had a negative net margin of 6.93% and a negative return on equity of 4.26%. The firm had revenue of $270.06 million during the quarter, compared to analyst estimates of $257.17 million. As a group, research analysts anticipate that Shopify Inc will post -0.63 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in Shopify by 3.2% during the first quarter. BlackRock Inc. now owns 90,186 shares of the software maker’s stock valued at $11,235,000 after buying an additional 2,770 shares during the period. Dimensional Fund Advisors LP grew its position in Shopify by 26.8% during the first quarter. Dimensional Fund Advisors LP now owns 11,525 shares of the software maker’s stock valued at $1,436,000 after buying an additional 2,438 shares during the period. Legal & General Group Plc grew its position in Shopify by 15.6% during the first quarter. Legal & General Group Plc now owns 86,204 shares of the software maker’s stock valued at $10,723,000 after buying an additional 11,659 shares during the period. Brown Advisory Inc. bought a new position in Shopify during the first quarter valued at about $586,000. Finally, Gulf International Bank UK Ltd grew its position in Shopify by 6.9% during the second quarter. Gulf International Bank UK Ltd now owns 29,025 shares of the software maker’s stock valued at $4,236,000 after buying an additional 1,875 shares during the period. Hedge funds and other institutional investors own 60.68% of the company’s stock.

Shopify Company Profile (NYSE:SHOP)

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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