Shopify (NYSE:SHOP) PT Lowered to $75.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective dropped by stock analysts at Wells Fargo & Company from $85.00 to $75.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 20.00% from the stock’s previous close.

Several other brokerages have also weighed in on SHOP. ATB Capital lifted their price objective on Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Scotiabank lifted their price objective on Shopify from $70.00 to $80.00 and gave the stock a “sector perform” rating in a report on Thursday, May 2nd. CIBC lifted their price objective on Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Mizuho decreased their price objective on Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Wedbush reiterated a “neutral” rating and issued a $68.00 price target on shares of Shopify in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of “Hold” and a consensus price target of $77.89.

Shopify Stock Performance

SHOP traded down $0.23 during midday trading on Thursday, reaching $62.50. The company’s stock had a trading volume of 11,317,277 shares, compared to its average volume of 9,850,029. The stock has a market cap of $80.41 billion, a P/E ratio of 692.44 and a beta of 2.20. The company has a fifty day simple moving average of $74.74 and a 200 day simple moving average of $73.78. The company has a current ratio of 6.99, a quick ratio of 6.99 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.

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

Institutional Investors Weigh In On Shopify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its position in shares of Shopify by 3.2% in the first quarter. Orion Portfolio Solutions LLC now owns 38,473 shares of the software maker’s stock valued at $2,969,000 after purchasing an additional 1,201 shares in the last quarter. Blair William & Co. IL boosted its stake in Shopify by 0.4% in the 1st quarter. Blair William & Co. IL now owns 371,735 shares of the software maker’s stock worth $28,687,000 after purchasing an additional 1,356 shares during the period. HBK Sorce Advisory LLC lifted its holdings in shares of Shopify by 4.3% in the first quarter. HBK Sorce Advisory LLC now owns 6,511 shares of the software maker’s stock worth $502,000 after buying an additional 266 shares in the last quarter. Midwest Professional Planners LTD. boosted its position in shares of Shopify by 31.7% in the first quarter. Midwest Professional Planners LTD. now owns 4,842 shares of the software maker’s stock valued at $374,000 after acquiring an additional 1,166 shares during the period. Finally, Kingsview Wealth Management LLC increased its holdings in Shopify by 1.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 26,369 shares of the software maker’s stock worth $2,035,000 after acquiring an additional 365 shares during the period. 69.27% of the stock is currently owned by institutional investors.

Shopify Company Profile

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.