Shopify Inc (SHOP) Receives Average Recommendation of “Buy” from Brokerages

Shares of Shopify Inc (NYSE:SHOP) (TSE:SHOP) have earned an average recommendation of “Buy” from the twenty-two research firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $195.80.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Shopify from a “strong sell” rating to a “hold” rating and set a $241.00 price objective for the company in a report on Tuesday. Roth Capital increased their price objective on Shopify from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Macquarie increased their price objective on Shopify to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, March 27th. Rosenblatt Securities increased their price objective on Shopify from $190.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, February 14th. Finally, SunTrust Banks reissued a “hold” rating and issued a $170.00 price objective on shares of Shopify in a report on Thursday, February 14th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Proficio Capital Partners LLC lifted its position in Shopify by 7.4% in the fourth quarter. Proficio Capital Partners LLC now owns 1,079 shares of the software maker’s stock worth $149,000 after purchasing an additional 74 shares during the period. TCI Wealth Advisors Inc. lifted its position in Shopify by 70.6% in the first quarter. TCI Wealth Advisors Inc. now owns 186 shares of the software maker’s stock worth $38,000 after purchasing an additional 77 shares during the period. Flagship Harbor Advisors LLC lifted its position in Shopify by 2.3% in the first quarter. Flagship Harbor Advisors LLC now owns 4,342 shares of the software maker’s stock worth $897,000 after purchasing an additional 97 shares during the period. North Star Investment Management Corp. lifted its position in shares of Shopify by 90.9% during the 4th quarter. North Star Investment Management Corp. now owns 210 shares of the software maker’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Finally, CX Institutional lifted its position in shares of Shopify by 29.0% during the 4th quarter. CX Institutional now owns 445 shares of the software maker’s stock valued at $62,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 64.95% of the company’s stock.

SHOP stock traded up $1.65 on Wednesday, reaching $217.05. The company’s stock had a trading volume of 1,058,719 shares, compared to its average volume of 1,415,792. Shopify has a 52 week low of $117.64 and a 52 week high of $221.82. The firm has a market capitalization of $23.88 billion, a price-to-earnings ratio of -355.82 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 15.35 and a quick ratio of 15.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 12th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.32. Shopify had a negative return on equity of 3.52% and a negative net margin of 6.01%. The business had revenue of $344.00 million during the quarter, compared to analyst estimates of $327.45 million. During the same period in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 54.3% compared to the same quarter last year. On average, equities analysts anticipate that Shopify will post -0.99 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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