Shopify (NYSE:SHOP) Upgraded to Outperform at Atb Cap Markets

Atb Cap Markets upgraded shares of Shopify (NYSE:SHOPFree Report) (TSE:SHOP) from a sector perform rating to an outperform rating in a research note published on Wednesday morning, Zacks.com reports.

A number of other research firms have also recently issued reports on SHOP. The Goldman Sachs Group decreased their price objective on shares of Shopify from $75.00 to $67.00 and set a neutral rating on the stock in a research report on Thursday. StockNews.com raised Shopify from a sell rating to a hold rating in a research report on Wednesday, April 24th. Wedbush reissued a neutral rating and set a $68.00 target price on shares of Shopify in a research note on Tuesday, February 13th. Robert W. Baird dropped their price target on Shopify from $87.00 to $77.00 and set an outperform rating for the company in a research note on Thursday. Finally, Citigroup reduced their price objective on shares of Shopify from $105.00 to $95.00 and set a buy rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $76.86.

Read Our Latest Stock Analysis on Shopify

Shopify Trading Down 5.6 %

Shares of NYSE SHOP traded down $3.49 during midday trading on Wednesday, reaching $58.96. The company had a trading volume of 30,637,877 shares, compared to its average volume of 8,120,365. The firm’s fifty day moving average price is $74.20 and its 200-day moving average price is $73.63. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. Shopify has a one year low of $45.50 and a one year high of $91.57. The stock has a market cap of $75.86 billion, a PE ratio of 655.18 and a beta of 2.20.

Shopify (NYSE:SHOPGet Free Report) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. On average, equities research analysts anticipate that Shopify will post 0.59 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Private Wealth Management Group LLC bought a new stake in Shopify in the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. increased its position in Shopify by 59.1% in 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 last quarter. DSM Capital Partners LLC bought a new position in Shopify during the fourth quarter valued at $28,000. Jones Financial Companies Lllp purchased a new position in shares of Shopify in the 4th quarter worth $28,000. Finally, Your Advocates Ltd. LLP increased 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 worth $31,000 after buying an additional 391 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Company Profile

(Get Free Report)

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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