Shopify (NYSE:SHOP) (TSE:SHOP) had its price target raised by Robert W. Baird from $370.00 to $410.00 in a report issued on Monday, The Fly reports. They currently have an outperform rating on the software maker’s stock.

A number of other equities analysts have also weighed in on SHOP. Roth Capital set a $300.00 target price on shares of Shopify and gave the stock a hold rating in a research note on Sunday, July 21st. Barclays upped their target price on shares of Shopify from $225.00 to $310.00 and gave the stock an equal weight rating in a research note on Friday, June 21st. Royal Bank of Canada upped their target price on shares of Shopify to $400.00 and gave the stock an outperform rating in a research note on Friday, August 2nd. Canaccord Genuity upped their target price on shares of Shopify from $360.00 to $385.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, UBS Group upped their target price on shares of Shopify from $295.00 to $395.00 and gave the stock a buy rating in a research note on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $335.88.

Shares of SHOP stock opened at $356.63 on Monday. 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 price-to-earnings ratio of -584.64 and a beta of 1.23. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average of $361.45 and a 200-day moving average of $281.04.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.45. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The company had revenue of $361.98 million during the quarter, compared to analyst estimates of $350.59 million. During the same quarter in the previous year, the business earned $0.02 EPS. The firm’s revenue was up 47.8% on a year-over-year basis. Research analysts expect that Shopify will post -0.82 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the company. Coastal Investment Advisors Inc. boosted its stake in shares of Shopify by 358.3% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,054 shares of the software maker’s stock worth $316,000 after buying an additional 824 shares during the last quarter. Enlightenment Research LLC acquired a new position in shares of Shopify during the 2nd quarter worth about $1,169,000. Weaver Consulting Group acquired a new position in shares of Shopify during the 1st quarter worth about $54,000. Baillie Gifford & Co. boosted its stake in shares of Shopify by 8.4% during the 2nd quarter. Baillie Gifford & Co. now owns 6,418,913 shares of the software maker’s stock worth $1,926,637,000 after buying an additional 498,874 shares during the last quarter. Finally, Atria Investments LLC boosted its stake in shares of Shopify by 56.5% during the 2nd quarter. Atria Investments LLC now owns 7,150 shares of the software maker’s stock worth $262,000 after buying an additional 2,581 shares during the last quarter. Institutional investors own 59.63% of the company’s stock.

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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