Cantor Fitzgerald Reiterates Neutral Rating for Shopify (NYSE:SHOP)

Cantor Fitzgerald reaffirmed their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report released on Monday, Benzinga reports. Cantor Fitzgerald currently has a $70.00 price objective on the software maker’s stock.

Other equities analysts also recently issued research reports about the stock. Loop Capital lifted their target price on shares of Shopify from $68.00 to $80.00 and gave the stock a hold rating in a research note on Friday, August 16th. Wells Fargo & Company increased their target price on Shopify from $80.00 to $90.00 and gave the stock an overweight rating in a research report on Wednesday, September 11th. KeyCorp started coverage on Shopify in a research report on Thursday, July 25th. They issued an overweight rating and a $80.00 price target for the company. Evercore increased their price objective on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Finally, Piper Sandler restated a neutral rating and issued a $67.00 target price on shares of Shopify in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have issued 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 an average target price of $78.97.

Shopify Trading Down 0.8 %

Shares of SHOP stock opened at $82.71 on Monday. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market cap of $106.59 billion, a P/E ratio of 84.40, a PEG ratio of 2.79 and a beta of 2.36. The company has a 50 day moving average of $73.12 and a 200-day moving average of $68.65. Shopify has a 12-month low of $45.50 and a 12-month high of $91.57.

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, beating the consensus estimate of $0.20 by $0.06. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) earnings per share. Sell-side analysts anticipate that Shopify will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new position in shares of Shopify in the 2nd quarter valued at approximately $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Shopify in the second quarter worth $39,000. Finally, Private Wealth Management Group LLC raised its holdings in Shopify by 53.3% in the first quarter. Private Wealth Management Group LLC now owns 518 shares of the software maker’s stock worth $40,000 after purchasing an additional 180 shares in the last quarter. 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.