Shopify Inc. (NYSE:SHOP) (TSE:SH)‘s stock had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on SHOP. BidaskClub raised shares of Shopify from a “buy” rating to a “strong-buy” rating in a report on Friday, August 25th. Zacks Investment Research raised shares of Shopify from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a report on Friday, July 28th. Macquarie increased their price target on shares of Shopify from $121.00 to $146.00 and gave the stock an “outperform” rating in a report on Wednesday, September 20th. Robert W. Baird increased their price target on shares of Shopify from $95.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, Roth Capital increased their price target on shares of Shopify from $92.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $100.45.

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

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A number of institutional investors have recently made changes to their positions in the business. Nadler Financial Group Inc. lifted its position in Shopify by 0.9% during the second quarter. Nadler Financial Group Inc. now owns 3,033 shares of the software maker’s stock valued at $264,000 after buying an additional 28 shares during the period. Private Advisory Group LLC raised its position in shares of Shopify by 3.9% in the 2nd quarter. Private Advisory Group LLC now owns 4,391 shares of the software maker’s stock worth $382,000 after purchasing an additional 164 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Shopify by 26.6% in the 2nd quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after purchasing an additional 298 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Shopify by 2.1% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 19,200 shares of the software maker’s stock worth $1,668,000 after purchasing an additional 400 shares during the last quarter. Finally, Meridian Wealth Management LLC raised its position in shares of Shopify by 18.5% in the 3rd quarter. Meridian Wealth Management LLC now owns 3,477 shares of the software maker’s stock worth $413,000 after purchasing an additional 544 shares during the last quarter. 55.03% of the stock is owned by institutional investors and hedge funds.

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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