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

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “neutral” rating reissued by research analysts at Cantor Fitzgerald in a note issued to investors on Wednesday,Benzinga reports. They currently have a $120.00 price target on the software maker’s stock. Cantor Fitzgerald’s target price indicates a potential downside of 5.99% from the company’s current price.

A number of other brokerages have also recently weighed in on SHOP. Robert W. Baird lifted their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial lifted their target price on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. New Street Research initiated coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price for the company. Finally, KeyCorp boosted their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $125.14.

Shopify Price Performance

Shares of NYSE SHOP opened at $127.65 on Wednesday. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $128.00. The firm’s 50-day simple moving average is $111.43 and its 200 day simple moving average is $92.02. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $164.93 billion, a P/E ratio of 119.30, a P/E/G ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities analysts expect that Shopify will post 0.91 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SHOP. Allianz SE acquired a new stake in shares of Shopify in the fourth quarter valued at $27,000. PFG Private Wealth Management LLC boosted its holdings in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the last quarter. Brooklyn Investment Group bought a new position in Shopify during the third quarter worth about $33,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 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.