Wedbush Reiterates Neutral Rating for Shopify (NYSE:SHOP)

Wedbush restated their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report sent to investors on Tuesday,RTT News reports. The brokerage currently has a $115.00 price objective on the software maker’s stock, up from their prior price objective of $72.00.

Other equities research analysts have also issued research reports about the company. Scotiabank lifted their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price objective on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Redburn Atlantic raised shares of Shopify from a “neutral” rating to a “buy” rating and set a $99.00 target price for the company in a research report on Tuesday, September 17th. DZ Bank lowered shares of Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Finally, UBS Group increased their price objective on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $94.95.

Shopify Stock Down 0.6 %

Shopify stock opened at $108.48 on Tuesday. The company has a 50 day moving average of $81.97 and a 200-day moving average of $71.02. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. Shopify has a twelve month low of $48.56 and a twelve month high of $115.62. The stock has a market capitalization of $139.98 billion, a PE ratio of 101.38, a price-to-earnings-growth ratio of 3.71 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Shopify had a net margin of 16.84% and a return on equity of 11.60%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. On average, equities research analysts anticipate that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Trading of Shopify

Large investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its position in shares of Shopify by 15.4% during the 1st quarter. Empowered Funds LLC now owns 12,708 shares of the software maker’s stock worth $981,000 after acquiring an additional 1,694 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of Shopify by 51.4% in the 1st quarter. Bleakley Financial Group LLC now owns 16,315 shares of the software maker’s stock valued at $1,259,000 after purchasing an additional 5,537 shares during the last quarter. TBH Global Asset Management LLC raised its holdings in shares of Shopify by 43.0% during the 1st quarter. TBH Global Asset Management LLC now owns 5,649 shares of the software maker’s stock worth $436,000 after buying an additional 1,700 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Shopify by 1.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 26,369 shares of the software maker’s stock worth $2,035,000 after buying an additional 365 shares during the last quarter. Finally, Midwest Professional Planners LTD. boosted its stake in Shopify by 31.7% in the first quarter. Midwest Professional Planners LTD. now owns 4,842 shares of the software maker’s stock valued at $374,000 after buying an additional 1,166 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

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.