Shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) have earned a consensus recommendation of “Hold” from the twenty-seven research firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $341.32.

Several equities analysts recently weighed in on SHOP shares. William Blair reiterated a “hold” rating on shares of Shopify in a research report on Tuesday. Piper Jaffray Companies set a $320.00 target price on Shopify and gave the stock a “hold” rating in a research report on Tuesday. Goldman Sachs Group started coverage on Shopify in a research report on Friday, June 7th. They set a “neutral” rating and a $264.00 target price on the stock. Bank of America increased their target price on Shopify from $185.00 to $300.00 and gave the stock an “underperform” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird increased their target price on Shopify from $370.00 to $410.00 and gave the stock an “outperform” rating in a research report on Monday.

Several hedge funds have recently bought and sold shares of the company. Tortoise Investment Management LLC acquired a new stake in Shopify during the 1st quarter valued at approximately $29,000. Signaturefd LLC grew its stake in Shopify by 56.9% during the 1st quarter. Signaturefd LLC now owns 171 shares of the software maker’s stock valued at $35,000 after purchasing an additional 62 shares in the last quarter. Aperio Group LLC acquired a new stake in Shopify during the 2nd quarter valued at approximately $37,000. Advisors Preferred LLC acquired a new stake in Shopify during the 2nd quarter valued at approximately $39,000. Finally, Ropes Wealth Advisors LLC grew its stake in Shopify by 41.0% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock valued at $44,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 59.63% of the company’s stock.

NYSE SHOP traded up $9.12 during trading hours on Friday, hitting $356.63. 3,058,511 shares of the company’s stock were exchanged, compared to its average volume of 1,799,447. The business’s 50 day moving average is $361.45 and its 200-day moving average is $281.04. Shopify has a 12-month low of $117.64 and a 12-month high of $409.61. The firm has a market capitalization of $37.62 billion, a P/E ratio of -584.64 and a beta of 1.23. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.44 and a current ratio of 11.44.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.45. Shopify had a negative return on equity of 3.85% and a negative net margin of 5.98%. The firm had revenue of $361.98 million for the quarter, compared to the consensus estimate of $350.59 million. During the same period in the prior year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 47.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Shopify will post -0.82 EPS for the current fiscal year.

Shopify Company Profile

Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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