Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective upped by Wedbush from $177.00 to $200.00 in a research report released on Monday morning, The Fly reports. Wedbush currently has an outperform rating on the software maker’s stock. Wedbush also issued estimates for Shopify’s Q4 2018 earnings at $0.00 EPS and FY2019 earnings at ($0.38) EPS.
A number of other equities analysts have also weighed in on SHOP. Rosenblatt Securities set a $190.00 price objective on Shopify and gave the company a buy rating in a research note on Friday, October 26th. Macquarie set a $185.00 price objective on Shopify and gave the company a buy rating in a research note on Friday, October 26th. Royal Bank of Canada lifted their price objective on Shopify from $157.00 to $159.00 and gave the company a sector perform rating in a research note on Saturday, October 27th. Zacks Investment Research reiterated a buy rating and set a $145.00 price objective on shares of Shopify in a research note on Thursday, November 15th. Finally, Wells Fargo & Co initiated coverage on Shopify in a research report on Tuesday, December 18th. They set an outperform rating and a $175.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Shopify currently has a consensus rating of Buy and an average target price of $184.15.
NYSE SHOP opened at $172.02 on Monday. The stock has a market cap of $18.66 billion, a price-to-earnings ratio of -409.57 and a beta of 1.51. Shopify has a fifty-two week low of $112.50 and a fifty-two week high of $180.00. The company has a quick ratio of 11.82, a current ratio of 11.82 and a debt-to-equity ratio of 0.01.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 12th. The software maker reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.32. The business had revenue of $344.00 million during the quarter, compared to analyst estimates of $327.45 million. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. The company’s revenue was up 54.3% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. Analysts forecast that Shopify will post -0.63 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Bollard Group LLC boosted its holdings in Shopify by 1,935.0% in the 4th quarter. Bollard Group LLC now owns 20,350 shares of the software maker’s stock worth $2,817,000 after buying an additional 19,350 shares during the last quarter. Blair William & Co. IL boosted its holdings in Shopify by 14.3% in the 3rd quarter. Blair William & Co. IL now owns 36,928 shares of the software maker’s stock worth $6,073,000 after buying an additional 4,628 shares during the last quarter. Barton Investment Management boosted its holdings in Shopify by 5.6% in the 4th quarter. Barton Investment Management now owns 304,743 shares of the software maker’s stock worth $42,192,000 after buying an additional 16,208 shares during the last quarter. Teachers Advisors LLC acquired a new stake in Shopify in the 3rd quarter worth about $9,182,000. Finally, Compagnie Lombard Odier SCmA boosted its holdings in Shopify by 92.5% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 770 shares of the software maker’s stock worth $126,000 after buying an additional 370 shares during the last quarter. Institutional investors own 62.28% of the company’s stock.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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