Shopify (NYSE:SHOP) PT Lowered to $90.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target dropped by research analysts at Citigroup from $97.00 to $90.00 in a report issued on Thursday, Marketbeat reports. The firm currently has a “buy” rating on the software maker’s stock. Citigroup’s target price would indicate a potential upside of 29.87% from the stock’s current price.

SHOP has been the subject of several other research reports. UBS Group boosted their price objective on shares of Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI boosted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday. StockNews.com upgraded shares of Shopify from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. JMP Securities raised shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Thursday, May 9th. Finally, 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. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average target price of $77.24.

Shopify Price Performance

NYSE SHOP traded up $0.75 during trading on Thursday, reaching $69.30. 10,931,244 shares of the company traded hands, compared to its average volume of 10,422,090. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.14 and a current ratio of 7.14. The stock’s 50 day moving average price is $63.43 and its two-hundred day moving average price is $69.96. The company has a market cap of $89.31 billion, a price-to-earnings ratio of -407.65, a P/E/G ratio of 3.14 and a beta of 2.30. Shopify has a 1-year low of $45.50 and a 1-year high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Shopify had a negative net margin of 2.82% and a positive return on equity of 7.36%. The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Shopify’s quarterly revenue was up 20.7% compared to the same quarter last year. As a group, analysts anticipate that Shopify will post 0.62 EPS for the current year.

Institutional Investors Weigh In On Shopify

Several institutional investors and hedge funds have recently added to or reduced their stakes in SHOP. Private Wealth Management Group LLC bought a new stake in Shopify during the 4th quarter worth about $26,000. DSM Capital Partners LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp bought a new stake in shares of Shopify in the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP raised its holdings in shares of Shopify by 4,344.4% in the 4th 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. Finally, Cultivar Capital Inc. bought a new stake in shares of Shopify in the 2nd quarter valued at about $33,000. 69.27% of the stock is owned by institutional investors.

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.