Shopify (NYSE:SHOP) Price Target Raised to $410.00 at Robert W. Baird

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Robert W. Baird from $370.00 to $410.00 in a report released on Monday morning, The Fly reports. Robert W. Baird currently has an outperform rating on the software maker’s stock.

SHOP has been the subject of a number of other research reports. Barclays lifted their price objective on shares of Shopify from $225.00 to $310.00 and gave the company an equal weight rating in a research report on Friday, June 21st. Bank of America lifted their price objective on shares of Shopify from $185.00 to $300.00 and gave the company an underperform rating in a research report on Friday, August 2nd. Rosenblatt Securities lifted their target price on shares of Shopify from $410.00 to $481.00 and gave the stock a buy rating in a report on Tuesday, August 27th. Mackie lifted their target price on shares of Shopify from $280.00 to $360.00 and gave the stock a buy rating in a report on Monday, July 15th. Finally, William Blair reaffirmed a market perform rating on shares of Shopify in a report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $335.88.

Shares of SHOP traded up $9.31 during midday trading on Monday, reaching $356.82. The stock had a trading volume of 152,315 shares, compared to its average volume of 1,792,052. The firm has a 50 day simple moving average of $361.45 and a 200-day simple moving average of $281.04. Shopify has a one year low of $117.64 and a one year high of $409.61. The firm has a market cap of $37.62 billion, a PE ratio of -587.43 and a beta of 1.23. The company has a current ratio of 11.44, a quick ratio of 11.44 and a debt-to-equity ratio of 0.05.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Thursday, August 1st. The software maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.45. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The company had revenue of $361.98 million during the quarter, compared to the consensus estimate of $350.59 million. During the same quarter last year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 47.8% on a year-over-year basis. As a group, research analysts forecast that Shopify will post -0.82 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of SHOP. Comerica Securities Inc. raised its stake in Shopify by 32.4% in the 4th quarter. Comerica Securities Inc. now owns 3,005 shares of the software maker’s stock worth $416,000 after purchasing an additional 735 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Shopify by 46.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 8,260 shares of the software maker’s stock worth $1,707,000 after purchasing an additional 2,635 shares in the last quarter. Comerica Bank raised its stake in Shopify by 1.0% in the 1st quarter. Comerica Bank now owns 9,102 shares of the software maker’s stock worth $1,880,000 after purchasing an additional 89 shares in the last quarter. Optimum Investment Advisors raised its stake in Shopify by 100.0% in the 1st quarter. Optimum Investment Advisors now owns 400 shares of the software maker’s stock worth $83,000 after purchasing an additional 200 shares in the last quarter. Finally, Stephens Inc. AR raised its stake in Shopify by 20.5% in the 1st quarter. Stephens Inc. AR now owns 3,287 shares of the software maker’s stock worth $679,000 after purchasing an additional 560 shares in the last quarter. Institutional investors and hedge funds own 59.63% of the company’s stock.

About Shopify

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, 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.

Recommended Story: Technical Analysis of Stocks and What It Means

The Fly

Analyst Recommendations for Shopify (NYSE:SHOP)

Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.