Shopify Inc. (NYSE:SHOP) Given Average Rating of “Hold” by Brokerages

Shopify Inc. (NYSE:SHOPGet Rating) (TSE:SHOP) has been assigned a consensus recommendation of “Hold” from the forty brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $61.86.

SHOP has been the subject of several recent analyst reports. DA Davidson boosted their target price on Shopify to $34.00 in a research report on Tuesday, November 1st. Credit Suisse Group reduced their target price on Shopify from $41.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Atlantic Securities raised Shopify from a “neutral” rating to an “overweight” rating and set a $46.00 price target for the company in a research note on Thursday, August 11th. Citigroup dropped their price target on Shopify from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Tuesday, October 25th. Finally, StockNews.com raised Shopify to a “sell” rating in a research note on Friday, October 28th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Evoke Wealth LLC grew its holdings in shares of Shopify by 790.1% during the 2nd quarter. Evoke Wealth LLC now owns 810 shares of the software maker’s stock worth $25,000 after acquiring an additional 719 shares during the period. Gradient Investments LLC grew its holdings in shares of Shopify by 978.9% during the 2nd quarter. Gradient Investments LLC now owns 820 shares of the software maker’s stock worth $26,000 after acquiring an additional 744 shares during the period. Trustcore Financial Services LLC grew its holdings in shares of Shopify by 2,100.0% during the 2nd quarter. Trustcore Financial Services LLC now owns 880 shares of the software maker’s stock worth $27,000 after acquiring an additional 840 shares during the period. Larson Financial Group LLC grew its holdings in shares of Shopify by 352.1% during the 2nd quarter. Larson Financial Group LLC now owns 850 shares of the software maker’s stock worth $27,000 after acquiring an additional 662 shares during the period. Finally, CVA Family Office LLC grew its holdings in shares of Shopify by 1,680.0% during the 2nd quarter. CVA Family Office LLC now owns 890 shares of the software maker’s stock worth $28,000 after acquiring an additional 840 shares during the period. Institutional investors own 54.64% of the company’s stock.

Shopify Price Performance

Shopify stock opened at $36.77 on Friday. Shopify has a 52 week low of $23.63 and a 52 week high of $166.13. The business has a 50-day simple moving average of $31.47 and a 200 day simple moving average of $35.96. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 0.15. The stock has a market cap of $46.44 billion, a price-to-earnings ratio of -14.50 and a beta of 1.88.

Shopify (NYSE:SHOPGet Rating) (TSE:SHOP) last posted its earnings results on Thursday, October 27th. The software maker reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. Shopify had a negative return on equity of 3.82% and a negative net margin of 61.17%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.33 billion. On average, research analysts forecast that Shopify will post -0.5 earnings per share for the current fiscal year.

Shopify Company Profile

(Get Rating)

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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