Shopify (NYSE:SHOP) (TSE:SHOP) was upgraded by research analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, December 21st, MarketBeat Ratings reports. The firm currently has a $150.00 price objective on the software maker’s stock. DA Davidson’s price objective would indicate a potential upside of 0.38% from the company’s current price. DA Davidson also issued estimates for Shopify’s Q4 2019 earnings at $0.06 EPS.
SHOP has been the topic of a number of other research reports. Wells Fargo & Co began coverage on Shopify in a research note on Tuesday, December 18th. They set an “outperform” rating and a $175.00 price objective on the stock. Jefferies Financial Group initiated coverage on Shopify in a report on Monday, October 1st. They issued a “hold” rating and a $175.00 price objective for the company. Macquarie set a $185.00 price objective on Shopify and gave the company a “buy” rating in a report on Friday, October 26th. Zacks Investment Research reissued a “buy” rating and issued a $145.00 price objective on shares of Shopify in a report on Thursday, November 15th. Finally, Royal Bank of Canada boosted their price objective on Shopify from $157.00 to $159.00 and gave the company a “sector perform” rating in a report on Saturday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Shopify presently has an average rating of “Buy” and a consensus price target of $166.41.
Shopify stock traded up $1.16 during midday trading on Friday, reaching $149.43. The stock had a trading volume of 685,277 shares, compared to its average volume of 1,171,590. Shopify has a twelve month low of $111.09 and a twelve month high of $176.60. The stock has a market capitalization of $14.87 billion, a P/E ratio of -355.79 and a beta of 1.42. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 0.01.
Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Thursday, October 25th. The software maker reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.34. The firm had revenue of $270.06 million for the quarter, compared to analysts’ expectations of $257.17 million. Shopify had a negative return on equity of 4.26% and a negative net margin of 6.93%. As a group, sell-side analysts predict that Shopify will post -0.63 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of SHOP. Comerica Bank boosted its position in shares of Shopify by 61.5% during the second quarter. Comerica Bank now owns 7,671 shares of the software maker’s stock worth $1,296,000 after buying an additional 2,921 shares during the period. First Trust Advisors LP boosted its position in shares of Shopify by 20.0% during the second quarter. First Trust Advisors LP now owns 3,592 shares of the software maker’s stock worth $524,000 after buying an additional 599 shares during the period. Sei Investments Co. boosted its position in shares of Shopify by 7,740.7% during the second quarter. Sei Investments Co. now owns 7,135 shares of the software maker’s stock worth $1,041,000 after buying an additional 7,044 shares during the period. First Allied Advisory Services Inc. acquired a new position in shares of Shopify during the second quarter worth approximately $228,000. Finally, US Bancorp DE boosted its position in shares of Shopify by 327.3% during the second quarter. US Bancorp DE now owns 11,854 shares of the software maker’s stock worth $1,730,000 after buying an additional 9,080 shares during the period. Institutional investors and hedge funds own 62.19% 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 Canada, the United States, the United Kingdom, 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.