Shopify (NYSE:SHOP) Earns Neutral Rating from Wedbush

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Wedbush in a report released on Tuesday,RTT News reports. They currently have a $115.00 price objective on the software maker’s stock, up from their previous price objective of $72.00. Wedbush’s price target would suggest a potential downside of 0.11% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. Scotiabank lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on Shopify from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Benchmark restated a “hold” rating on shares of Shopify in a research report on Tuesday, August 6th. Evercore ISI upped their price objective on Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, UBS Group lifted their target price on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Trading Up 5.7 %

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

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

Institutional Investors Weigh In On Shopify

Large investors have recently added to or reduced their stakes in the stock. Moser Wealth Advisors LLC lifted its holdings in shares of Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after buying an additional 128 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock worth $159,000 after acquiring an additional 129 shares during the period. Rosenberg Matthew Hamilton lifted its stake in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. CVA Family Office LLC increased its position in Shopify by 11.8% during the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares during the period. Finally, Twin Peaks Wealth Advisors LLC raised its holdings in shares of Shopify by 3.5% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after purchasing an additional 145 shares in the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.