Shopify Inc. (NYSE:SHOP) Receives Consensus Rating of “Hold” from Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has earned a consensus recommendation of “Hold” from the thirty-five analysts that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $77.38.

Several research firms have weighed in on SHOP. Truist Financial increased their price objective on Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 12th. Roth Capital increased their price objective on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. BNP Paribas cut Shopify from a “neutral” rating to an “underperform” rating in a research note on Thursday, January 18th. ATB Capital raised their target price on Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. Finally, DA Davidson raised their target price on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th.

Shopify Trading Down 2.2 %

Shares of SHOP stock opened at $69.99 on Monday. The stock has a market capitalization of $90.05 billion, a PE ratio of 777.75 and a beta of 2.22. Shopify has a 1-year low of $45.11 and a 1-year high of $91.57. The business has a 50-day moving average of $77.97 and a 200 day moving average of $71.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. As a group, sell-side analysts anticipate that Shopify will post 0.57 earnings per share for the current year.

Institutional Trading of Shopify

Several large investors have recently modified their holdings of the company. Private Wealth Management Group LLC purchased a new position in Shopify during the fourth quarter valued at $26,000. SJS Investment Consulting Inc. lifted its position in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after buying an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in shares of Shopify in the second quarter worth about $27,000. DSM Capital Partners LLC bought a new stake in Shopify during the fourth quarter worth approximately $28,000. Finally, Jones Financial Companies Lllp bought a new stake in Shopify during the fourth quarter worth approximately $28,000. Institutional investors own 69.27% of the company’s stock.

About Shopify

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.