Shopify (NYSE:SHOP) Rating Reiterated by UBS Group

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Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “underperform” rating restated by UBS Group in a report issued on Thursday, The Fly reports. They currently have a $450.00 target price on the software maker’s stock. UBS Group’s price objective points to a potential downside of 15.29% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other research firms have also commented on SHOP. KeyCorp increased their target price on shares of Shopify from $385.00 to $485.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Loop Capital assumed coverage on shares of Shopify in a research note on Wednesday, January 15th. They set a “hold” rating and a $420.00 target price for the company. Barclays reissued a “hold” rating and set a $420.00 target price on shares of Shopify in a research note on Sunday, January 26th. Guggenheim reissued a “hold” rating on shares of Shopify in a research note on Tuesday, December 3rd. Finally, National Bank Financial increased their target price on shares of Shopify from $450.00 to $500.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $470.11.

SHOP stock opened at $531.22 on Thursday. Shopify has a 12 month low of $173.71 and a 12 month high of $593.89. The firm has a market cap of $61.27 billion, a PE ratio of -470.11 and a beta of 1.19. The firm has a 50 day simple moving average of $449.15 and a 200 day simple moving average of $368.66. The company has a debt-to-equity ratio of 0.04, a current ratio of 11.21 and a quick ratio of 11.21.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, February 12th. The software maker reported $0.07 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.29. Shopify had a negative net margin of 8.97% and a negative return on equity of 3.36%. The business had revenue of $505.16 million during the quarter, compared to analyst estimates of $482.26 million. As a group, sell-side analysts expect that Shopify will post -1.24 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Advisory Alpha LLC increased its stake in Shopify by 8.2% in the 4th quarter. Advisory Alpha LLC now owns 263 shares of the software maker’s stock valued at $116,000 after buying an additional 20 shares during the period. Wealthsource Partners LLC increased its stake in Shopify by 1.7% in the 4th quarter. Wealthsource Partners LLC now owns 1,229 shares of the software maker’s stock valued at $489,000 after buying an additional 21 shares during the period. Rudd International Inc. increased its stake in Shopify by 1.3% in the 4th quarter. Rudd International Inc. now owns 1,811 shares of the software maker’s stock valued at $720,000 after buying an additional 24 shares during the period. B. Riley Wealth Management Inc. increased its stake in Shopify by 2.6% in the 4th quarter. B. Riley Wealth Management Inc. now owns 989 shares of the software maker’s stock valued at $393,000 after buying an additional 25 shares during the period. Finally, Gradient Investments LLC increased its stake in Shopify by 32.2% in the 4th quarter. Gradient Investments LLC now owns 160 shares of the software maker’s stock valued at $64,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 57.36% of the company’s stock.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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