Shopify Sees Unusually Large Options Volume (SHOP)
Shopify Inc. (NYSE:SHOP) (TSE:SH) was the target of unusually large options trading on Wednesday. Traders bought 15,007 call options on the company. This represents an increase of approximately 705% compared to the typical daily volume of 1,865 call options.
A number of research firms have recently commented on SHOP. Wedbush reiterated an “outperform” rating and set a $115.00 target price (up previously from $100.00) on shares of Shopify in a research report on Tuesday, August 8th. Barclays PLC reiterated an “equal weight” rating and set a $90.00 target price (up previously from $70.00) on shares of Shopify in a research report on Wednesday, August 2nd. Robert W. Baird reiterated a “buy” rating and set a $110.00 target price on shares of Shopify in a research report on Friday, September 29th. Vetr upgraded Shopify from a “hold” rating to a “buy” rating and set a $122.30 target price on the stock in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $110.00 target price on shares of Shopify in a research report on Friday. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $95.51.
Shares of Shopify (SHOP) opened at 97.92 on Monday. The stock’s market cap is $9.65 billion. Shopify has a 52 week low of $37.74 and a 52 week high of $123.94. The stock’s 50 day moving average price is $115.94 and its 200 day moving average price is $115.94.
Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The business had revenue of $151.70 million for the quarter, compared to analyst estimates of $143.94 million. During the same quarter last year, the business earned ($0.04) earnings per share. The business’s revenue for the quarter was up 75.2% on a year-over-year basis. Equities research analysts anticipate that Shopify will post ($0.04) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of SHOP. FNY Partners Fund LP acquired a new position in shares of Shopify during the first quarter valued at approximately $102,000. SG Americas Securities LLC acquired a new position in shares of Shopify during the first quarter valued at approximately $116,000. Seven Bridges Advisors LLC acquired a new position in shares of Shopify during the second quarter valued at approximately $120,000. Advisory Services Network LLC increased its stake in shares of Shopify by 26.6% during the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock valued at $123,000 after acquiring an additional 298 shares during the period. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Shopify during the second quarter valued at approximately $135,000. Institutional investors and hedge funds own 53.77% of the company’s stock.
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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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