Shopify’s (SHOP) Neutral Rating Reiterated at Cantor Fitzgerald

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $70.00 price target on the software maker’s stock. Cantor Fitzgerald’s price target points to a potential downside of 12.16% from the company’s current price.

A number of other research analysts have also recently commented on the company. Truist Financial reduced their price objective on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. UBS Group increased their price objective on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Bank of America upgraded Shopify from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $78.00 to $82.00 in a research note on Tuesday, July 16th. Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Finally, Argus raised shares of Shopify to a “strong-buy” 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.92.

Shopify Trading Up 1.2 %

Shares of NYSE:SHOP traded up $0.97 during trading on Monday, reaching $79.69. 1,637,853 shares of the stock were exchanged, compared to its average volume of 9,716,505. Shopify has a 12-month low of $45.50 and a 12-month high of $91.57. The firm’s 50-day moving average price is $68.41 and its 200 day moving average price is $68.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The firm has a market cap of $102.70 billion, a price-to-earnings ratio of -468.76, a price-to-earnings-growth ratio of 2.47 and a beta of 2.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. The company 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 quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. On average, sell-side analysts anticipate that Shopify will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Shopify by 100.0% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares in the last quarter. DSM Capital Partners LLC bought a new stake in shares of Shopify during the 4th quarter worth about $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Shopify in the 4th quarter worth approximately $28,000. Cultivar Capital Inc. acquired a new stake in shares of Shopify in the 2nd quarter worth approximately $33,000. Finally, Hazlett Burt & Watson Inc. bought a new position in shares of Shopify in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.