Shopify (NYSE:SHOP) Trading Up 1.4%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price traded up 1.4% during trading on Wednesday . The company traded as high as $71.58 and last traded at $70.88. 2,489,781 shares changed hands during trading, a decline of 76% from the average session volume of 10,375,463 shares. The stock had previously closed at $69.90.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHOP. Needham & Company LLC reaffirmed a “hold” rating on shares of Shopify in a research report on Thursday, May 9th. Barclays raised their price target on shares of Shopify from $63.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 8th. CIBC reduced their target price on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research note on Thursday, May 9th. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Finally, Roth Mkm upped their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.24.

Shopify Stock Up 1.8 %

The firm has a market cap of $91.72 billion, a P/E ratio of -416.94, a P/E/G ratio of 2.83 and a beta of 2.30. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $63.79 and a 200-day moving average price of $69.64.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the business earned ($0.08) EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts forecast that Shopify Inc. will post 0.63 EPS for the current fiscal year.

Institutional Trading of Shopify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new stake in Shopify during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in shares of Shopify during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp acquired a new position in Shopify in the 4th quarter valued at $28,000. Your Advocates Ltd. LLP lifted its holdings in 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 Shopify during the 2nd quarter worth $33,000. Institutional investors and hedge funds 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.