Shopify Inc. (SHOP) Now Covered by Analysts at Ifs Securities
Ifs Securities initiated coverage on shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) in a research note released on Thursday. The brokerage issued an outperform rating and a $115.00 price target on the software maker’s stock.
Several other research firms have also commented on SHOP. Vetr lowered shares of Shopify from a sell rating to a strong sell rating and set a $73.40 price objective for the company. in a research note on Monday, May 8th. CSFB reissued an outperform rating and issued a $128.00 price objective on shares of Shopify in a research note on Tuesday, May 23rd. Wedbush raised their price objective on shares of Shopify from $85.00 to $95.00 and gave the company an outperform rating in a research note on Wednesday, May 3rd. Robert W. Baird reissued an outperform rating and issued a $95.00 price objective on shares of Shopify in a research note on Monday, May 15th. Finally, Eight Capital raised shares of Shopify from a neutral rating to a buy rating in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $90.93.
Shopify (SHOP) opened at 103.74 on Thursday. The company’s market capitalization is $10.22 billion. Shopify has a 1-year low of $37.74 and a 1-year high of $107.00. The company has a 50-day moving average of $94.60 and a 200-day moving average of $81.29.
Shopify (NYSE:SHOP) (TSE:SH) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The business had revenue of $151.70 million during the quarter, compared to analysts’ expectations of $143.94 million. During the same period last year, the business earned ($0.04) earnings per share. The business’s revenue for the quarter was up 75.2% on a year-over-year basis. Equities analysts expect that Shopify will post ($0.05) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Shopify by 8.5% in the second quarter. FMR LLC now owns 12,560,797 shares of the software maker’s stock valued at $1,090,644,000 after buying an additional 989,113 shares during the last quarter. Coatue Management LLC bought a new stake in shares of Shopify during the second quarter valued at approximately $228,174,000. Renaissance Technologies LLC raised its stake in shares of Shopify by 4.7% in the first quarter. Renaissance Technologies LLC now owns 1,347,000 shares of the software maker’s stock valued at $91,732,000 after buying an additional 61,000 shares during the last quarter. Scge Management L.P. raised its stake in shares of Shopify by 16.7% in the first quarter. Scge Management L.P. now owns 1,015,000 shares of the software maker’s stock valued at $69,111,000 after buying an additional 145,000 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC raised its stake in shares of Shopify by 36.1% in the second quarter. Zevenbergen Capital Investments LLC now owns 837,955 shares of the software maker’s stock valued at $72,818,000 after buying an additional 222,240 shares during the last quarter. 53.78% of the stock is currently owned by institutional investors.
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
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