Shopify Inc. (NYSE:SHOP) Receives $77.06 Consensus Target Price from Analysts

Shopify Inc. (NYSE:SHOPGet Free Report) (TSE:SHOP) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $77.06.

Several equities research analysts have commented on the company. UBS Group boosted their price objective on Shopify from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com upgraded Shopify from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. BNP Paribas upgraded Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. Wells Fargo & Company lowered their target price on Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Finally, TD Securities lowered their target price on Shopify from $80.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, May 9th.

Check Out Our Latest Analysis on Shopify

Shopify Price Performance

Shares of Shopify stock opened at $58.55 on Tuesday. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. Shopify has a twelve month low of $45.50 and a twelve month high of $91.57. The business has a 50-day moving average price of $68.59 and a 200 day moving average price of $74.02. The firm has a market cap of $75.45 billion, a PE ratio of -344.41, a P/E/G ratio of 2.66 and a beta of 2.20.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. Sell-side analysts predict that Shopify will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several hedge funds have recently made changes to their positions in SHOP. Principal Financial Group Inc. boosted its stake in shares of Shopify by 8.7% during the third quarter. Principal Financial Group Inc. now owns 229,177 shares of the software maker’s stock worth $12,521,000 after buying an additional 18,302 shares during the period. NBC Securities Inc. acquired a new stake in shares of Shopify during the third quarter worth about $104,000. Vestmark Advisory Solutions Inc. boosted its stake in shares of Shopify by 63.1% during the third quarter. Vestmark Advisory Solutions Inc. now owns 7,047 shares of the software maker’s stock worth $385,000 after buying an additional 2,726 shares during the period. Sigma Planning Corp boosted its stake in shares of Shopify by 4.6% during the third quarter. Sigma Planning Corp now owns 23,064 shares of the software maker’s stock worth $1,259,000 after buying an additional 1,018 shares during the period. Finally, Wealthspire Advisors LLC lifted its position in Shopify by 13.3% in the third quarter. Wealthspire Advisors LLC now owns 4,110 shares of the software maker’s stock valued at $224,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Company Profile

(Get Free Report

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.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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