Shopify (NYSE:SHOP) Trading Down 0.2%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price traded down 0.2% during mid-day trading on Monday . The stock traded as low as $73.92 and last traded at $74.43. 1,328,254 shares were traded during mid-day trading, a decline of 87% from the average session volume of 10,334,869 shares. The stock had previously closed at $74.55.

Analyst Ratings Changes

A number of equities analysts have recently commented on SHOP shares. StockNews.com raised shares of Shopify from a “sell” rating to a “hold” rating in a report on Wednesday, April 24th. CIBC dropped their target price on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a report on Thursday, May 9th. Atb Cap Markets raised Shopify from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Shopify in a research note on Thursday, May 9th. Finally, Barclays boosted their target price on shares of Shopify from $63.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.30.

Shopify Price Performance

The stock has a fifty day simple moving average of $64.99 and a 200-day simple moving average of $69.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. Shopify’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. As a group, sell-side analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Private Wealth Management Group LLC acquired a new stake in shares of Shopify in the fourth quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group increased its position in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. DSM Capital Partners LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the 4th quarter valued at approximately $28,000. Finally, Your Advocates Ltd. LLP grew its stake in shares of Shopify by 4,344.4% in the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after buying an additional 391 shares in the last quarter. 69.27% 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, 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.