Shopify Inc. (NYSE:SHOP) Receives $1,365.19 Consensus Target Price from Analysts


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Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been assigned a consensus recommendation of “Buy” from the thirty-six brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $1,370.20.

Several equities analysts have recently commented on the company. Oppenheimer upped their target price on Shopify from $1,300.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Citigroup upped their target price on Shopify from $1,315.00 to $1,420.00 in a research report on Thursday, April 29th. Royal Bank of Canada upped their target price on Shopify from $1,290.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Thursday, February 18th. Evercore ISI assumed coverage on Shopify in a research report on Tuesday, April 13th. They issued an “in-line” rating and a $1,360.00 target price on the stock. Finally, Susquehanna raised Shopify from a “neutral” rating to a “positive” rating and set a $1,500.00 target price on the stock in a research report on Thursday, April 29th.

NYSE:SHOP traded down $11.07 on Thursday, hitting $1,110.94. The company’s stock had a trading volume of 61,088 shares, compared to its average volume of 1,369,552. The company has a current ratio of 17.87, a quick ratio of 17.87 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $1,152.24 and a two-hundred day moving average of $1,141.76. The firm has a market capitalization of $136.12 billion, a P/E ratio of 714.66, a price-to-earnings-growth ratio of 37.63 and a beta of 1.60. Shopify has a one year low of $617.01 and a one year high of $1,499.75.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, April 28th. The software maker reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $1.27. The firm had revenue of $988.70 million for the quarter, compared to analyst estimates of $851.43 million. Shopify had a return on equity of 2.35% and a net margin of 7.99%. The business’s revenue for the quarter was up 110.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 earnings per share. As a group, sell-side analysts anticipate that Shopify will post 1.49 EPS for the current year.

A number of institutional investors have recently bought and sold shares of SHOP. Aequim Alternative Investments LP bought a new position in Shopify in the 4th quarter valued at $507,000. Norges Bank bought a new position in Shopify in the 4th quarter valued at $1,171,041,000. Jennison Associates LLC boosted its holdings in Shopify by 26.4% in the 4th quarter. Jennison Associates LLC now owns 4,289,790 shares of the software maker’s stock valued at $4,855,828,000 after purchasing an additional 895,940 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in Shopify by 104.6% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 551,131 shares of the software maker’s stock valued at $609,826,000 after purchasing an additional 281,731 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Shopify by 46.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 872,168 shares of the software maker’s stock valued at $962,783,000 after purchasing an additional 276,187 shares during the period. 56.89% of the stock is currently owned by institutional investors and hedge funds.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, the United Kingdom, Australia, Latin America, and internationally. The company's platform provides merchants to run their business in 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, and access financing.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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