Shopify (NYSE:SHOP) Earns Neutral Rating from Cantor Fitzgerald

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

Several other research analysts have also recently weighed in on the stock. Piper Sandler restated a neutral rating and set a $67.00 price target on shares of Shopify in a report on Thursday, August 29th. Evercore ISI boosted their target price on Shopify from $75.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, August 8th. Argus raised Shopify to a strong-buy rating in a research report on Thursday, August 8th. Wolfe Research assumed coverage on Shopify in a research report on Tuesday, July 16th. They issued an outperform rating and a $80.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Shopify from $80.00 to $85.00 and gave the company a buy rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $78.38.

Shopify Trading Up 0.9 %

SHOP opened at $79.14 on Monday. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57. The firm has a market capitalization of $101.99 billion, a PE ratio of -465.53, a P/E/G ratio of 2.65 and a beta of 2.35. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The company’s 50-day moving average is $70.96 and its 200 day moving average is $68.56.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The company 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 company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) earnings per share. As a group, research analysts predict that Shopify will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

Institutional investors and hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV grew its holdings in Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after acquiring an additional 129 shares during the last quarter. Willis Johnson & Associates Inc. grew its stake in shares of Shopify by 5.8% in the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock worth $211,000 after purchasing an additional 149 shares during the last quarter. Valley National Advisers Inc. increased its holdings in Shopify by 11.4% during the 1st quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after purchasing an additional 152 shares during the period. Checchi Capital Advisers LLC lifted its holdings in Shopify by 4.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 4,178 shares of the software maker’s stock worth $322,000 after buying an additional 162 shares during the period. Finally, Lazari Capital Management Inc. lifted its holdings in Shopify by 2.8% in the 2nd quarter. Lazari Capital Management Inc. now owns 6,447 shares of the software maker’s stock worth $426,000 after buying an additional 177 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.