Cantor Fitzgerald Reiterates “Neutral” Rating for Shopify (NYSE:SHOP)

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “neutral” rating reissued by analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $120.00 price target on the software maker’s stock. Cantor Fitzgerald’s target price points to a potential downside of 5.99% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. New Street Research initiated coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Barclays upped their price objective on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Wells Fargo & Company upped their price target on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price objective on shares of Shopify in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $125.14.

Shopify Trading Up 5.9 %

Shares of SHOP stock opened at $127.65 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The stock has a market capitalization of $164.93 billion, a P/E ratio of 119.30, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a 50 day moving average price of $111.43 and a 200 day moving average price of $92.02. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $128.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities research analysts predict that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SHOP. Norges Bank purchased a new position in Shopify in the fourth quarter valued at approximately $1,542,262,000. Baillie Gifford & Co. grew its position 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. Arrowstreet Capital Limited Partnership grew its position in shares of Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after buying an additional 7,316,862 shares in the last quarter. FMR LLC grew its position in shares of Shopify by 16.1% during 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. Finally, Alliancebernstein L.P. boosted its holdings in Shopify by 631.3% in the fourth quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock worth $474,187,000 after purchasing an additional 3,849,796 shares during the period. Hedge funds and other institutional investors 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.