Shopify (NYSE:SHOP) Shares Up 1.3%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price was up 1.3% during trading on Wednesday . The stock traded as high as $67.22 and last traded at $66.93. Approximately 1,783,701 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 10,210,228 shares. The stock had previously closed at $66.06.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SHOP shares. Evercore upgraded Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Friday, June 14th. Morgan Stanley raised Shopify from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $74.00 to $85.00 in a research note on Friday, April 19th. Benchmark reissued a “hold” rating on shares of Shopify in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft decreased their price target on Shopify from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. Finally, CIBC decreased their target price on Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Shopify Stock Up 1.0 %

The company has a market cap of $85.98 billion, a PE ratio of -393.71, a P/E/G ratio of 3.32 and a beta of 2.30. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $63.92 and its 200-day simple moving average is $72.83.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.84 billion. As a group, equities research analysts expect that Shopify Inc. will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SHOP. Private Wealth Management Group LLC bought a new position in Shopify in the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. raised its position in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after acquiring an additional 130 shares in the last quarter. DSM Capital Partners LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the fourth quarter worth $28,000. Finally, Your Advocates Ltd. LLP grew its stake in shares of Shopify by 4,344.4% in the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, 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.