Loop Capital Lowers Shopify (NYSE:SHOP) Price Target to $80.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target decreased by analysts at Loop Capital from $90.00 to $80.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. Loop Capital’s target price would suggest a potential upside of 16.47% from the stock’s previous close.

A number of other brokerages also recently commented on SHOP. Jefferies Financial Group lifted their price target on shares of Shopify from $65.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, January 5th. StockNews.com raised Shopify from a “sell” rating to a “hold” rating in a research note on Saturday, January 27th. Citigroup dropped their target price on Shopify from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, February 14th. UBS Group raised their price target on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Finally, Wedbush reaffirmed a “neutral” rating and set a $68.00 price objective on shares of Shopify in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $78.00.

Shopify Trading Up 0.2 %

Shares of SHOP opened at $68.69 on Monday. Shopify has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm has a 50 day simple moving average of $77.45 and a 200-day simple moving average of $71.76. The stock has a market cap of $88.37 billion, a price-to-earnings ratio of 763.31 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Equities analysts forecast that Shopify will post 0.57 EPS for the current fiscal year.

Institutional Trading of Shopify

Hedge funds have recently made changes to their positions in the stock. StoneCrest Wealth Management Inc. bought a new position in Shopify during the 4th quarter worth approximately $1,164,000. Asset Management One Co. Ltd. lifted its stake in Shopify by 4,007.4% during the fourth quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock worth $2,807,000 after purchasing an additional 34,624 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Shopify in the fourth quarter worth $433,000. Bleakley Financial Group LLC increased its stake in Shopify by 18.5% during the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock valued at $840,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Advisor Resource Council acquired a new stake in shares of Shopify during the fourth quarter worth $1,488,000. Institutional investors and hedge funds 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.