Shopify Inc. (NYSE:SHOP) (TSE:SH) had its price objective boosted by Roth Capital from $117.00 to $119.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the software maker’s stock.

A number of other research firms have also recently commented on SHOP. Macquarie increased their target price on shares of Shopify from $121.00 to $146.00 and gave the stock an outperform rating in a report on Wednesday, September 20th. Vetr cut shares of Shopify from a buy rating to a hold rating and set a $120.91 target price for the company. in a report on Tuesday, September 12th. Robert W. Baird reissued a buy rating and issued a $110.00 target price on shares of Shopify in a report on Friday, September 29th. KeyCorp reissued a buy rating and issued a $116.00 target price on shares of Shopify in a report on Friday, September 8th. Finally, Piper Jaffray Companies reissued a buy rating and issued a $110.00 target price on shares of Shopify in a report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the stock. Shopify presently has a consensus rating of Buy and a consensus target price of $100.45.

Shares of Shopify (SHOP) opened at $98.71 on Wednesday. The company has a quick ratio of 11.80, a current ratio of 10.64 and a debt-to-equity ratio of 0.02.

Shopify (NYSE:SHOP) (TSE:SH) last posted its 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. The firm had revenue of $151.70 million during the quarter, compared to analysts’ expectations of $143.94 million. Shopify had a negative net margin of 7.90% and a negative return on equity of 6.58%. The business’s revenue for the quarter was up 75.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.04) earnings per share. equities analysts anticipate that Shopify will post -0.6 earnings per share for the current year.

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Hedge funds have recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $1,120,000. HighTower Advisors LLC acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $321,000. Wedbush Securities Inc. acquired a new stake in shares of Shopify during the 2nd quarter worth approximately $212,000. Oppenheimer & Co. Inc. grew its position in shares of Shopify by 26.8% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 39,959 shares of the software maker’s stock worth $3,472,000 after buying an additional 8,437 shares during the period. Finally, Barton Investment Management grew its position in shares of Shopify by 13.0% during the 2nd quarter. Barton Investment Management now owns 259,650 shares of the software maker’s stock worth $22,564,000 after buying an additional 29,830 shares during the period. 55.03% of the stock is owned by institutional investors.

Shopify 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.

Analyst Recommendations for Shopify (NYSE:SHOP)

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