Shopify Inc. (NYSE:SHOP) Receives $79.03 Average PT from Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have earned a consensus rating of “Hold” from the thirty-six research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seventeen have issued a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $79.00.

SHOP has been the topic of several analyst reports. Wedbush reiterated a “neutral” rating and issued a $68.00 target price on shares of Shopify in a research note on Tuesday, February 13th. ATB Capital raised their target price on shares of Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. National Bankshares increased their price objective on Shopify from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Loop Capital dropped their price target on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Finally, Truist Financial increased their price objective on shares of Shopify from $65.00 to $90.00 and gave the company a “hold” rating in a research report on Monday, February 12th.

Shopify Price Performance

Shares of SHOP opened at $74.46 on Friday. The stock has a market capitalization of $95.80 billion, a PE ratio of 827.43 and a beta of 2.20. The company has a 50 day moving average price of $74.73 and a 200-day moving average price of $73.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99. Shopify has a fifty-two week low of $45.50 and a fifty-two week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Equities analysts predict that Shopify will post 0.59 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. grew its stake in Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock valued at $4,998,476,000 after acquiring an additional 1,419,749 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Shopify by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock valued at $3,284,910,000 after purchasing an additional 1,242,067 shares during the last quarter. Capital World Investors increased its holdings in shares of Shopify by 28.7% in the fourth quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock valued at $3,071,197,000 after purchasing an additional 8,789,411 shares during the last quarter. Capital International Investors boosted its stake in Shopify by 9.7% during the fourth quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock worth $1,235,534,000 after buying an additional 1,399,562 shares during the last quarter. Finally, Norges Bank acquired a new position in Shopify during the fourth quarter worth $1,049,089,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

About Shopify

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.