Shopify Inc. (NYSE:SHOP) (TSE:SH) had its price target lifted by Barclays PLC from $90.00 to $95.00 in a research note issued to investors on Wednesday. The firm currently has an equal weight rating on the software maker’s stock.

SHOP has been the topic of a number of other reports. Wedbush restated an ourperform rating on shares of Shopify in a research report on Wednesday, August 2nd. Robert W. Baird restated a buy rating and set a $110.00 price target on shares of Shopify in a research report on Friday, September 29th. Piper Jaffray Companies boosted their price target on shares of Shopify from $110.00 to $120.00 in a research report on Tuesday. Oppenheimer Holdings, Inc. restated a hold rating on shares of Shopify in a research report on Wednesday, August 9th. Finally, Vetr upgraded shares of Shopify from a hold rating to a buy rating and set a $122.30 price target on the stock in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have issued a buy rating to the stock. Shopify currently has an average rating of Buy and a consensus price target of $100.45.

Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.05. Shopify had a negative net margin of 7.90% and a negative return on equity of 7.65%. The company had revenue of $151.70 million for the quarter, compared to the consensus estimate of $143.94 million. During the same period in the previous year, the firm earned ($0.04) EPS. Shopify’s revenue was up 75.2% on a year-over-year basis.

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Hedge funds have recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Shopify during the second quarter worth approximately $1,120,000. HighTower Advisors LLC acquired a new stake in shares of Shopify during the second quarter worth approximately $321,000. Wedbush Securities Inc. acquired a new stake in shares of Shopify during the second quarter worth approximately $212,000. Oppenheimer & Co. Inc. boosted its holdings in shares of Shopify by 26.8% during the second quarter. Oppenheimer & Co. Inc. now owns 39,959 shares of the software maker’s stock worth $3,472,000 after purchasing an additional 8,437 shares during the period. Finally, Barton Investment Management boosted its holdings in shares of Shopify by 13.0% during the second quarter. Barton Investment Management now owns 259,650 shares of the software maker’s stock worth $22,564,000 after purchasing an additional 29,830 shares during the period. Institutional investors and hedge funds own 55.03% of the company’s stock.

About Shopify

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.

Analyst Recommendations for Shopify (NYSE:SHOP)

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