Shopify (NYSE:SHOP) Getting Somewhat Favorable News Coverage, Study Finds
Headlines about Shopify (NYSE:SHOP) (TSE:SH) have been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies negative and positive media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Shopify earned a daily sentiment score of 0.25 on Accern’s scale. Accern also gave news coverage about the software maker an impact score of 45.2461585858195 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
A number of research analysts have commented on the stock. CSFB reaffirmed an “outperform” rating and issued a $128.00 target price on shares of Shopify in a research report on Tuesday, May 23rd. Royal Bank Of Canada upped their target price on shares of Shopify from $77.00 to $78.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 3rd. Wedbush reissued an “ourperform” rating on shares of Shopify in a research report on Wednesday, August 2nd. SunTrust Banks, Inc. started coverage on shares of Shopify in a research report on Monday, June 26th. They set a “hold” rating and a $90.00 price target on the stock. Finally, BidaskClub cut shares of Shopify from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $88.33.
Shares of Shopify (NYSE:SHOP) traded up 3.74% during trading on Friday, hitting $91.71. 1,951,120 shares of the stock were exchanged. Shopify has a one year low of $37.00 and a one year high of $105.79. The stock’s market cap is $9.04 billion. The stock’s 50 day moving average price is $92.13 and its 200 day moving average price is $77.67.
Shopify (NYSE:SHOP) (TSE:SH) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. The firm had revenue of $151.70 million during the quarter, compared to the consensus estimate of $143.94 million. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The firm’s revenue was up 75.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.04) EPS. Equities research analysts predict that Shopify will post ($0.05) EPS for the current year.
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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.
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