Benchmark Reaffirms Hold Rating for Shopify (NYSE:SHOP)

Benchmark restated their hold rating on shares of Shopify (NYSE:SHOPFree Report) (TSE:SHOP) in a research note published on Tuesday morning, Benzinga reports.

Several other equities analysts have also recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Shopify from $67.00 to $75.00 and gave the stock a neutral rating in a research report on Thursday, February 29th. UBS Group raised their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. CIBC boosted their target price on shares of Shopify from $82.00 to $100.00 and gave the company an outperform rating in a research note on Wednesday, February 7th. Loop Capital lowered their price target on shares of Shopify from $90.00 to $80.00 and set a hold rating on the stock in a report on Monday, April 15th. Finally, Scotiabank upped their price objective on Shopify from $70.00 to $80.00 and gave the company a sector perform rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $76.86.

Check Out Our Latest Research Report on SHOP

Shopify Stock Down 5.6 %

Shares of NYSE:SHOP traded down $3.49 during midday trading on Tuesday, hitting $58.96. 30,637,877 shares of the company’s stock were exchanged, compared to its average volume of 8,120,365. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a market cap of $75.86 billion, a PE ratio of 655.18 and a beta of 2.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock has a 50 day moving average price of $74.20 and a 200-day moving average price of $73.63.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 EPS for the quarter, topping the consensus estimate of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, sell-side analysts anticipate that Shopify will post 0.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of large investors have recently made changes to their positions in the business. Verdence Capital Advisors LLC purchased a new position in shares of Shopify during the 3rd quarter worth approximately $364,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Shopify by 4.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 690,280 shares of the software maker’s stock worth $37,669,000 after purchasing an additional 26,889 shares in the last quarter. Advisor Partners II LLC lifted its position in Shopify by 11.2% during the third quarter. Advisor Partners II LLC now owns 21,260 shares of the software maker’s stock valued at $1,160,000 after buying an additional 2,136 shares during the period. TD Asset Management Inc boosted its holdings in shares of Shopify by 4.4% during the 3rd quarter. TD Asset Management Inc now owns 7,104,095 shares of the software maker’s stock valued at $389,052,000 after buying an additional 299,788 shares in the last quarter. Finally, Portside Wealth Group LLC grew its position in shares of Shopify by 15.4% in the 3rd quarter. Portside Wealth Group LLC now owns 9,283 shares of the software maker’s stock worth $507,000 after buying an additional 1,240 shares during the period. 69.27% of the stock is currently owned by institutional investors.

About Shopify

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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.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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