Several other equities analysts have also commented on the company. Loop Capital reduced their price target on Shopify from $660.00 to $460.00 in a research report on Tuesday, May 3rd. Veritas Investment Research lowered Shopify from a “buy” rating to a “sell” rating in a research report on Thursday, May 5th. Deutsche Bank Aktiengesellschaft cut their price objective on Shopify from $900.00 to $550.00 in a report on Monday, May 2nd. Stifel Nicolaus cut their price objective on Shopify from $1,000.00 to $800.00 in a report on Monday, April 25th. Finally, Wells Fargo & Company assumed coverage on Shopify in a report on Monday, April 4th. They issued an “overweight” rating and a $834.00 price objective for the company. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $915.29.
Shares of SHOP stock opened at $338.54 on Thursday. Shopify has a fifty-two week low of $297.64 and a fifty-two week high of $1,762.92. The stock has a market cap of $42.62 billion, a P/E ratio of 270.83 and a beta of 1.82. The business has a fifty day simple moving average of $395.68 and a 200-day simple moving average of $743.92. The company has a quick ratio of 11.84, a current ratio of 11.84 and a debt-to-equity ratio of 0.12.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last announced its quarterly earnings results on Thursday, May 5th. The software maker reported ($0.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.31). The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Shopify had a net margin of 3.77% and a return on equity of 1.94%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.32 EPS. On average, sell-side analysts anticipate that Shopify will post -4.28 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. HighMark Wealth Management LLC purchased a new stake in Shopify in the 4th quarter valued at about $25,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Shopify during the 4th quarter worth approximately $25,000. Western Pacific Wealth Management LP purchased a new stake in shares of Shopify during the 4th quarter worth approximately $26,000. Amplius Wealth Advisors LLC bought a new position in Shopify in the 4th quarter worth approximately $31,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Shopify by 666.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 23 shares of the software maker’s stock worth $32,000 after buying an additional 20 shares during the period. 62.60% of the stock is currently owned by institutional investors.
About Shopify (Get Rating)
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.
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