Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by equities research analysts at KeyCorp from $150.00 to $170.00 in a research note issued to investors on Thursday. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp’s price objective would indicate a potential upside of 13.79% from the stock’s previous close.

SHOP has been the subject of a number of other reports. Zacks Investment Research cut Shopify Inc (US) from a “hold” rating to a “sell” rating in a research note on Wednesday, February 21st. Vetr raised Shopify Inc (US) from a “buy” rating to a “strong-buy” rating and set a $152.51 price objective for the company in a research note on Thursday, February 22nd. Macquarie reaffirmed an “outperform” rating and issued a $150.00 price objective (down from $155.00) on shares of Shopify Inc (US) in a research note on Thursday, February 22nd. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price objective (up from $120.00) on shares of Shopify Inc (US) in a research note on Monday, February 12th. Finally, William Blair reaffirmed a “market perform” rating on shares of Shopify Inc (US) in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $124.63.

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Shares of Shopify Inc (US) stock opened at $149.40 on Thursday. Shopify Inc has a one year low of $64.75 and a one year high of $154.82. The company has a quick ratio of 10.83, a current ratio of 10.82 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $15,292.17, a price-to-earnings ratio of -355.71 and a beta of 1.16.

Shopify Inc (US) (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Thursday, February 15th. The software maker reported ($0.03) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.09. Shopify Inc (US) had a negative return on equity of 4.74% and a negative net margin of 5.94%. The business had revenue of $222.80 million during the quarter, compared to analysts’ expectations of $209.70 million. The firm’s revenue was up 70.9% compared to the same quarter last year. sell-side analysts predict that Shopify Inc will post -0.8 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in SHOP. Coatue Management LLC boosted its position in shares of Shopify Inc (US) by 166.8% during the 4th quarter. Coatue Management LLC now owns 7,006,613 shares of the software maker’s stock worth $707,668,000 after acquiring an additional 4,380,903 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Shopify Inc (US) during the 4th quarter worth about $39,580,000. Franklin Resources Inc. boosted its position in shares of Shopify Inc (US) by 68.1% during the 4th quarter. Franklin Resources Inc. now owns 897,340 shares of the software maker’s stock worth $90,644,000 after acquiring an additional 363,490 shares in the last quarter. Whale Rock Capital Management LLC boosted its position in shares of Shopify Inc (US) by 37.7% during the 3rd quarter. Whale Rock Capital Management LLC now owns 1,323,557 shares of the software maker’s stock worth $154,181,000 after acquiring an additional 362,527 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in shares of Shopify Inc (US) by 40.1% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 705,434 shares of the software maker’s stock worth $71,506,000 after acquiring an additional 201,845 shares in the last quarter. 56.04% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Shopify Inc (US) (NYSE:SHOP)

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