Shopify’s (SHOP) “Hold” Rating Reaffirmed at Oppenheimer Holdings, Inc.
A number of other research analysts have also commented on the company. Zacks Investment Research raised Shopify from a hold rating to a buy rating and set a $101.00 price objective on the stock in a report on Friday, July 28th. Vetr raised Shopify from a buy rating to a strong-buy rating and set a $102.78 price objective on the stock in a report on Monday, July 24th. Piper Jaffray Companies reissued a buy rating and set a $110.00 price objective on shares of Shopify in a report on Tuesday, September 5th. BidaskClub lowered Shopify from a strong-buy rating to a buy rating in a report on Wednesday, July 5th. Finally, Robert W. Baird reissued an outperform rating and set a $110.00 price objective on shares of Shopify in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have given a buy rating to the stock. Shopify has a consensus rating of Buy and a consensus target price of $99.40.
Shopify (SHOP) traded down 3.48% during trading on Tuesday, reaching $96.03. The company’s stock had a trading volume of 4,161,548 shares. The firm’s market capitalization is $9.46 billion. Shopify has a 52-week low of $37.74 and a 52-week high of $123.94. The stock’s 50-day moving average is $108.32 and its 200 day moving average is $108.58.
Shopify (NYSE:SHOP) (TSE:SH) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. The business had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The firm’s revenue for the quarter was up 75.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, analysts predict that Shopify will post ($0.04) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. FNY Partners Fund LP bought a new position in shares of Shopify during the 1st quarter worth approximately $102,000. SG Americas Securities LLC bought a new position in shares of Shopify during the 1st quarter worth approximately $116,000. Seven Bridges Advisors LLC bought a new position in shares of Shopify during the 2nd quarter worth approximately $120,000. Advisory Services Network LLC lifted its position in shares of Shopify by 26.6% during the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after buying an additional 298 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Shopify during the 2nd quarter worth approximately $135,000. Institutional investors and hedge funds own 55.03% of the company’s stock.
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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