Shopify (NYSE:SHOP) Stock Rating Reaffirmed by Cantor Fitzgerald

by · The Markets Daily

Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $70.00 price target on the software maker’s stock. Cantor Fitzgerald’s price objective suggests a potential downside of 15.23% from the company’s current price.

SHOP has been the subject of several other research reports. Benchmark reiterated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Evercore ISI upped their price target on shares of Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Evercore raised their price target on shares of Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Barclays upped their price objective on shares of Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Finally, Citigroup raised their target price on Shopify from $90.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and an average target price of $78.38.

Get Our Latest Research Report on SHOP

Shopify Price Performance

Shares of Shopify stock opened at $82.58 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a fifty day moving average of $72.21 and a 200-day moving average of $68.52. The stock has a market capitalization of $106.42 billion, a price-to-earnings ratio of -485.76, a price-to-earnings-growth ratio of 2.65 and a beta of 2.36.

Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last posted its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the business posted ($0.08) earnings per share. The company’s revenue was up 20.7% on a year-over-year basis. Equities research analysts expect that Shopify will post 0.76 EPS for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors increased its holdings in shares of Shopify by 26.2% in the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. increased its holdings in Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after buying an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after buying an additional 5,982,434 shares during the last quarter. GQG Partners LLC lifted its stake in Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares during the period. Finally, Capital International Investors boosted its holdings in shares of Shopify by 3.4% during the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after acquiring an additional 542,503 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

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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