Shopify Inc. (NYSE:SHOP) Receives Average Rating of “Moderate Buy” from Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been given an average recommendation of “Moderate Buy” by the forty analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $120.94.

Several research analysts recently weighed in on the company. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $110.00 price objective on shares of Shopify in a report on Tuesday. Wells Fargo & Company boosted their target price on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Morgan Stanley reduced their price target on shares of Shopify from $144.00 to $106.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Barclays increased their price objective on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On Shopify

A number of institutional investors have recently made changes to their positions in SHOP. Norges Bank bought a new stake in Shopify during the fourth quarter valued at $1,542,262,000. Arrowstreet Capital Limited Partnership raised its stake in Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after acquiring an additional 7,316,862 shares during the period. Alliancebernstein L.P. lifted its holdings in Shopify by 631.3% in the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock worth $474,187,000 after acquiring an additional 3,849,796 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Shopify by 623.8% in the 4th quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker’s stock worth $198,932,000 after purchasing an additional 2,228,091 shares during the last quarter. Finally, Durable Capital Partners LP grew its stake in Shopify by 86.9% during the 4th quarter. Durable Capital Partners LP now owns 3,950,348 shares of the software maker’s stock worth $420,041,000 after buying an additional 1,836,294 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Price Performance

SHOP opened at $83.65 on Friday. The stock has a market capitalization of $108.31 billion, a price-to-earnings ratio of 53.97, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. Shopify has a 12 month low of $48.56 and a 12 month high of $129.38. The business has a 50-day moving average of $101.26 and a two-hundred day moving average of $101.43.

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 12.00% and a net margin of 22.74%. Equities research analysts anticipate that Shopify will post 1.12 earnings per share for the current year.

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.