Shopify Inc. (NYSE:SHOP) Given Consensus Rating of “Moderate Buy” by Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has earned an average rating of “Moderate Buy” from the forty analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, twenty-four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $126.31.

SHOP has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Shopify in a research note on Tuesday, February 11th. Truist Financial boosted their price target on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Barclays boosted their target price on shares of Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $140.00 in a report on Friday, December 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in shares of Shopify during the fourth quarter worth approximately $340,000. Integrated Advisors Network LLC boosted its position in Shopify by 4.2% during the 4th quarter. Integrated Advisors Network LLC now owns 11,308 shares of the software maker’s stock worth $1,202,000 after acquiring an additional 458 shares during the period. Challenger Wealth Management bought a new position in shares of Shopify in the fourth quarter worth $213,000. Putney Financial Group LLC bought a new position in shares of Shopify in the fourth quarter worth $1,975,000. Finally, Forum Financial Management LP increased its holdings in shares of Shopify by 70.8% during the fourth quarter. Forum Financial Management LP now owns 7,125 shares of the software maker’s stock valued at $758,000 after purchasing an additional 2,953 shares during the period. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Stock Performance

Shares of SHOP stock opened at $113.46 on Thursday. The firm has a market capitalization of $146.91 billion, a price-to-earnings ratio of 73.20, a price-to-earnings-growth ratio of 4.82 and a beta of 2.47. The company has a 50 day moving average price of $112.74 and a 200 day moving average price of $96.35. Shopify has a one year low of $48.56 and a one year high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, equities analysts forecast that Shopify will post 1.12 EPS 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.