Shopify (NYSE:SHOP) Research Coverage Started at Stifel Nicolaus

Stock analysts at Stifel Nicolaus assumed coverage on shares of Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) in a research note issued on Friday, The Fly reports. The firm set a “hold” rating and a $45.00 price target on the software maker’s stock. Stifel Nicolaus’ target price suggests a potential upside of 0.72% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Mizuho raised their price target on Shopify from $33.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, December 8th. DA Davidson raised Shopify from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, February 21st. Robert W. Baird increased their price objective on Shopify from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, February 16th. TD Securities increased their price objective on Shopify from $38.00 to $47.00 and gave the stock a “hold” rating in a report on Thursday, February 16th. Finally, StockNews.com started coverage on Shopify in a report on Thursday. They set a “sell” rating for the company. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $47.38.

Shopify Trading Up 0.0 %

NYSE:SHOP opened at $44.68 on Friday. The firm has a market capitalization of $56.42 billion, a price-to-earnings ratio of -16.37 and a beta of 2.04. The company has a current ratio of 7.07, a quick ratio of 7.07 and a debt-to-equity ratio of 0.17. The business’s 50-day moving average price is $44.17 and its two-hundred day moving average price is $37.20. Shopify has a 1-year low of $23.63 and a 1-year high of $78.00.

Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its quarterly earnings results on Wednesday, February 15th. The software maker reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.10. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.64 billion. Shopify had a negative return on equity of 5.62% and a negative net margin of 61.79%. On average, equities analysts expect that Shopify will post -0.48 earnings per share for the current year.

Institutional Trading of Shopify

A number of hedge funds have recently made changes to their positions in SHOP. AlphaCrest Capital Management LLC lifted its holdings in Shopify by 414.3% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 12,308 shares of the software maker’s stock worth $385,000 after purchasing an additional 9,915 shares during the last quarter. CI Investments Inc. raised its holdings in Shopify by 1,903.5% in the 2nd quarter. CI Investments Inc. now owns 370,374 shares of the software maker’s stock valued at $11,570,000 after acquiring an additional 351,888 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Shopify in the 3rd quarter valued at $365,000. Massachusetts Financial Services Co. MA raised its holdings in Shopify by 853.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,967,747 shares of the software maker’s stock valued at $61,473,000 after acquiring an additional 1,761,357 shares in the last quarter. Finally, USS Investment Management Ltd raised its holdings in Shopify by 868.3% in the 2nd quarter. USS Investment Management Ltd now owns 252,020 shares of the software maker’s stock valued at $7,888,000 after acquiring an additional 225,994 shares in the last quarter. 56.31% of the stock is owned by institutional investors and hedge funds.

About Shopify

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Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.