Shopify (NYSE:SHOP) PT Raised to $65.00 at Barclays

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by stock analysts at Barclays from $63.00 to $65.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target would suggest a potential downside of 6.20% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Moffett Nathanson cut shares of Shopify from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $74.00 to $65.00 in a report on Thursday, June 6th. The Goldman Sachs Group lifted their target price on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Loop Capital reduced their target price on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Monday, April 15th. Wolfe Research began coverage on shares of Shopify in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 target price for the company. Finally, BNP Paribas upgraded shares of Shopify from an “underperform” rating to an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average price target of $77.24.

Shopify Stock Up 1.1 %

Shares of SHOP stock traded up $0.75 during trading on Thursday, hitting $69.30. 10,931,244 shares of the company were exchanged, compared to its average volume of 10,422,090. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The firm has a market capitalization of $89.31 billion, a price-to-earnings ratio of -407.65, a P/E/G ratio of 3.14 and a beta of 2.30. The business’s 50-day simple moving average is $63.43 and its 200 day simple moving average is $69.96. Shopify has a twelve month low of $45.50 and a twelve month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. The business had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. As a group, analysts forecast that Shopify will post 0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several institutional investors and hedge funds have recently bought and sold shares of the business. Private Wealth Management Group LLC acquired a new stake in shares of Shopify in the 4th quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in shares of Shopify in the 4th quarter valued at $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the 4th quarter valued at $28,000. Your Advocates Ltd. LLP boosted its stake in shares of Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares in the last quarter. Finally, Cultivar Capital Inc. acquired a new stake in shares of Shopify in the 2nd quarter valued at $33,000. Institutional investors own 69.27% of the company’s stock.

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.