Shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) have been assigned a consensus recommendation of “Hold” from the thirty research firms that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $351.59.

A number of analysts recently commented on SHOP shares. Credit Suisse Group lifted their price target on Shopify from $370.00 to $450.00 and gave the stock an “outperform” rating in a report on Monday. Guggenheim reiterated a “hold” rating on shares of Shopify in a report on Tuesday, December 3rd. Loop Capital started coverage on Shopify in a report on Wednesday. They set a “hold” rating and a $420.00 price target on the stock. CIBC set a $350.00 price target on Shopify and gave the stock a “hold” rating in a report on Tuesday, October 8th. Finally, ValuEngine lowered Shopify from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.

Shares of NYSE:SHOP traded up $3.58 during mid-day trading on Friday, hitting $454.88. 1,869,206 shares of the company traded hands, compared to its average volume of 1,607,774. The stock has a market cap of $50.89 billion, a P/E ratio of -745.70 and a beta of 1.21. The company has a current ratio of 11.21, a quick ratio of 11.21 and a debt-to-equity ratio of 0.04. Shopify has a 12-month low of $154.10 and a 12-month high of $458.91. The stock has a 50-day moving average price of $394.71 and a two-hundred day moving average price of $347.87.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, October 29th. The software maker reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.08. The business had revenue of $390.55 million for the quarter, compared to analyst estimates of $384.05 million. Shopify had a negative return on equity of 3.36% and a negative net margin of 8.97%. As a group, analysts expect that Shopify will post -1.25 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the business. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in shares of Shopify by 43.9% in the fourth quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 7,770 shares of the software maker’s stock valued at $3,081,000 after buying an additional 2,370 shares during the period. Arden Trust Co raised its stake in shares of Shopify by 23.4% in the fourth quarter. Arden Trust Co now owns 1,193 shares of the software maker’s stock valued at $474,000 after buying an additional 226 shares during the period. IFP Advisors Inc raised its stake in shares of Shopify by 6.7% in the fourth quarter. IFP Advisors Inc now owns 862 shares of the software maker’s stock valued at $349,000 after buying an additional 54 shares during the period. We Are One Seven LLC bought a new stake in shares of Shopify in the fourth quarter valued at $338,000. Finally, HBW Advisory Services LLC bought a new stake in shares of Shopify in the fourth quarter valued at $239,000. Hedge funds and other institutional investors own 57.33% 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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