Shopify’s (SHOP) Neutral Rating Reiterated at Wedbush

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “neutral” rating reaffirmed by Wedbush in a research note issued on Tuesday,RTT News reports. They presently have a $115.00 price objective on the software maker’s stock, up from their previous price objective of $72.00. Wedbush’s price objective suggests a potential downside of 0.11% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Redburn Atlantic upgraded Shopify from a “neutral” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their price target on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of Shopify in a research note on Tuesday, September 10th. Evercore increased their price objective on shares of Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Finally, Morgan Stanley boosted their target price on shares of Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Price Performance

Shares of SHOP stock opened at $115.13 on Tuesday. The stock’s 50-day moving average is $79.47 and its 200 day moving average is $70.18. Shopify has a 1-year low of $48.56 and a 1-year high of $115.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The company has a market cap of $148.56 billion, a P/E ratio of 104.86, a PEG ratio of 3.64 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a net margin of 16.84% and a return on equity of 11.94%. Research analysts predict that Shopify will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SHOP. GQG Partners LLC raised its holdings in shares of Shopify by 197.9% during the first 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 last quarter. Capital World Investors boosted its stake in Shopify by 26.2% during 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 during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after buying an additional 5,982,434 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.