Analysts Set Shopify Inc. (NYSE:SHOP) PT at $76.39

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has earned an average recommendation of “Moderate Buy” from the thirty-seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-one have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $76.42.

Several brokerages have recently weighed in on SHOP. Canaccord Genuity Group decreased their price objective on Shopify from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Evercore raised Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Friday, June 14th. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. Mizuho decreased their price objective on shares of Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, May 9th. Finally, DA Davidson cut their price target on Shopify from $90.00 to $84.00 and set a “buy” rating for the company in a report on Thursday, May 9th.

Hedge Funds Weigh In On Shopify

Several hedge funds and other institutional investors have recently made changes to their positions in SHOP. Private Wealth Management Group LLC acquired a new position in shares of Shopify during the 4th quarter worth about $26,000. SJS Investment Consulting Inc. increased its stake 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 buying an additional 130 shares during the period. DSM Capital Partners LLC acquired a new position in shares of Shopify during the fourth quarter worth about $28,000. Jones Financial Companies Lllp purchased a new stake in Shopify in the 4th quarter valued at approximately $28,000. Finally, Your Advocates Ltd. LLP raised its position in Shopify by 4,344.4% in 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 in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Stock Performance

Shopify stock opened at $65.44 on Friday. The company has a market cap of $84.33 billion, a P/E ratio of -384.94, a price-to-earnings-growth ratio of 3.25 and a beta of 2.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.14 and a quick ratio of 7.14. The firm’s 50 day simple moving average is $64.41 and its 200-day simple moving average is $73.15. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. As a group, equities research analysts predict that Shopify will post 0.61 EPS for the current year.

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.