Shopify Inc. (NYSE:SHOP) Short Interest Update

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) saw a large decline in short interest in June. As of June 30th, there was short interest totalling 19,730,000 shares, a decline of 13.7% from the June 15th total of 22,870,000 shares. Based on an average daily volume of 10,570,000 shares, the short-interest ratio is presently 1.9 days. Currently, 1.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Wealth Management Group LLC bought a new stake in Shopify during the 4th quarter worth $26,000. SJS Investment Consulting Inc. lifted its holdings in shares of Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the period. DSM Capital Partners LLC bought a new stake in shares of Shopify in the fourth quarter worth $28,000. Jones Financial Companies Lllp acquired a new stake in Shopify in the fourth quarter valued at $28,000. Finally, Your Advocates Ltd. LLP increased its holdings in Shopify by 4,344.4% in the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

Shopify Stock Performance

Shares of Shopify stock traded down $0.41 during trading on Monday, reaching $64.48. The company’s stock had a trading volume of 3,642,240 shares, compared to its average volume of 10,015,050. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57. 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 business’s 50-day moving average price is $63.05 and its 200-day moving average price is $72.22. The firm has a market cap of $83.09 billion, a PE ratio of -381.71, a P/E/G ratio of 3.24 and a beta of 2.30.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. Equities analysts forecast that Shopify will post 0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SHOP. Evercore ISI raised shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Friday, June 14th. Wells Fargo & Company dropped their price target on shares of Shopify from $85.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Barclays lowered their target price on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, May 9th. Mizuho reduced their price target on Shopify from $75.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, May 9th. Finally, Benchmark restated a “hold” rating on shares of Shopify in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.03.

About Shopify

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.