Beck Capital Management LLC Makes New Investment in Shopify Inc. (NYSE:SHOP)

Beck Capital Management LLC bought a new position in shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 36,047 shares of the software maker’s stock, valued at approximately $2,381,000.

A number of other large investors have also added to or reduced their stakes in SHOP. DSM Capital Partners LLC acquired a new stake in shares of Shopify in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new stake in Shopify during the fourth quarter worth about $28,000. Cultivar Capital Inc. bought a new position in Shopify in the 2nd quarter valued at about $33,000. Hazlett Burt & Watson Inc. bought a new stake in shares of Shopify during the 2nd quarter worth approximately $33,000. Finally, OLD Point Trust & Financial Services N A acquired a new stake in shares of Shopify during the 4th quarter worth approximately $39,000. Institutional investors own 69.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. KeyCorp started coverage on shares of Shopify in a research note on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price target on the stock. Roth Mkm upped their price objective on shares of Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Wedbush restated a “neutral” rating and issued a $72.00 target price (up previously from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Finally, Argus upgraded Shopify to a “strong-buy” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.92.

Shopify Stock Performance

Shares of Shopify stock opened at $78.72 on Monday. The business has a fifty day simple moving average of $68.41 and a two-hundred day simple moving average of $68.34. The firm has a market capitalization of $101.45 billion, a P/E ratio of -463.06, a P/E/G ratio of 2.47 and a beta of 2.35. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify Inc. has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its 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. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned ($0.08) earnings per share. On average, equities analysts forecast that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

About Shopify

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.