Shopify (NYSE:SHOP) Stock Rating Reaffirmed by Benchmark

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “hold” rating reaffirmed by stock analysts at Benchmark in a report issued on Tuesday, Benzinga reports.

SHOP has been the topic of a number of other research reports. Barclays reduced their price objective on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 14th. Wells Fargo & Company dropped their target price on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. National Bankshares boosted their target price on shares of Shopify from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Citigroup raised shares of Shopify from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $93.00 to $105.00 in a research note on Monday, April 29th. Finally, ATB Capital boosted their target price on shares of Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.00.

Shopify Stock Performance

Shopify stock opened at $62.81 on Tuesday. The firm has a market capitalization of $80.81 billion, a P/E ratio of 697.97 and a beta of 2.20. The stock has a fifty day moving average price of $74.74 and a two-hundred day moving average price of $73.78. Shopify has a 52-week low of $45.50 and a 52-week 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.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. As a group, analysts anticipate that Shopify will post 0.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. StoneCrest Wealth Management Inc. bought a new position in Shopify in the fourth quarter valued at $1,164,000. Asset Management One Co. Ltd. raised its holdings 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 acquiring an additional 34,624 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in Shopify during the fourth quarter valued at approximately $433,000. Bleakley Financial Group LLC grew its stake in Shopify by 18.5% in 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 in the last quarter. Finally, Advisor Resource Council acquired a new position in shares of Shopify during the 4th quarter worth approximately $1,488,000. 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.