Shares of Shopify Inc (US) (NYSE:SHOP) (TSE:SH) have earned a consensus recommendation of “Buy” from the thirty ratings firms that are presently covering the firm. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $59.80.

A number of analysts recently weighed in on SHOP shares. Mackie started coverage on shares of Shopify Inc (US) in a report on Tuesday, November 29th. They issued a “buy” rating and a $60.00 price objective on the stock. Citigroup Inc started coverage on shares of Shopify Inc (US) in a research note on Thursday, December 1st. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Wedbush reissued an “outperform” rating and set a $50.00 target price on shares of Shopify Inc (US) in a research note on Friday, December 2nd. Oppenheimer Holdings Inc. started coverage on shares of Shopify Inc (US) in a research note on Friday, December 2nd. They set a “market perform” rating on the stock. Finally, BTIG Research reissued a “buy” rating and set a $55.00 target price on shares of Shopify Inc (US) in a research note on Tuesday, December 6th.

Shares of Shopify Inc (NYSE:SHOP) opened at 68.86 on Thursday. The stock’s market cap is $6.18 billion. Shopify Inc has a one year low of $24.96 and a one year high of $68.92. The firm has a 50 day moving average of $58.72 and a 200 day moving average of $47.10.

Several institutional investors have recently bought and sold shares of the stock. Fusion Family Wealth LLC acquired a new position in Shopify Inc (US) during the fourth quarter valued at $108,000. Advisor Group Inc. acquired a new position in Shopify Inc (US) during the third quarter valued at $109,000. First Mercantile Trust Co. acquired a new position in Shopify Inc (US) during the third quarter valued at $124,000. Foresters Asset Management Inc. raised its position in Shopify Inc (US) by 29.2% in the fourth quarter. Foresters Asset Management Inc. now owns 3,100 shares of the company’s stock valued at $133,000 after buying an additional 700 shares during the period. Finally, DIAM Co. Ltd. acquired a new position in Shopify Inc (US) during the third quarter valued at $158,000. Institutional investors own 69.10% of the company’s stock.

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Shopify Inc (US) Company Profile

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.

5 Day Chart for NYSE:SHOP

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