Shopify Inc. (NYSE:SHOP) Receives Average Recommendation of “Moderate Buy” from Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has received an average recommendation of “Moderate Buy” from the forty brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $126.31.

A number of equities research analysts have commented on the stock. Citigroup increased their price objective on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wedbush reissued an “outperform” rating and set a $125.00 price objective on shares of Shopify in a report on Tuesday, February 11th. JPMorgan Chase & Co. increased their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. New Street Research assumed coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective on the stock. Finally, ATB Capital increased their price objective on shares of Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th.

Institutional Trading of Shopify

Several hedge funds have recently bought and sold shares of SHOP. Allianz SE acquired a new stake in Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC raised its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC raised its holdings in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Shopify in the third quarter valued at approximately $33,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Stock Up 4.6 %

Shares of Shopify stock opened at $106.40 on Thursday. The stock has a market capitalization of $137.77 billion, a P/E ratio of 68.65, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The company has a 50-day simple moving average of $112.57 and a 200 day simple moving average of $97.59. Shopify has a 12-month low of $48.56 and a 12-month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, equities analysts anticipate that Shopify will post 1.12 earnings per share for the current year.

Shopify Company Profile

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.