Shares of Shopify Inc. (NYSE:SHOP – Get Rating) (TSE:SHOP) have been given a consensus recommendation of “Hold” by the forty-five research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twenty have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $54.69.
A number of research firms have issued reports on SHOP. Stifel Nicolaus assumed coverage on Shopify in a report on Friday, March 17th. They set a “hold” rating and a $45.00 target price for the company. The Goldman Sachs Group upped their price target on shares of Shopify from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. Citigroup decreased their target price on shares of Shopify from $54.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, February 17th. National Bank Financial increased their target price on Shopify from $60.00 to $80.00 in a report on Friday, May 5th. Finally, William Blair reissued an “outperform” rating on shares of Shopify in a report on Wednesday, January 25th.
Institutional Trading of Shopify
A number of hedge funds and other institutional investors have recently modified their holdings of SHOP. Fairfield Bush & CO. purchased a new position in shares of Shopify during the 1st quarter worth approximately $169,000. Raymond James Trust N.A. boosted its position in Shopify by 26.5% during the 1st quarter. Raymond James Trust N.A. now owns 754 shares of the software maker’s stock worth $510,000 after acquiring an additional 158 shares during the period. Dimensional Fund Advisors LP raised its stake in Shopify by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 30,166 shares of the software maker’s stock valued at $20,391,000 after purchasing an additional 592 shares during the period. Cetera Investment Advisers increased its position in Shopify by 13.0% in the 1st quarter. Cetera Investment Advisers now owns 4,596 shares of the software maker’s stock worth $3,107,000 after buying an additional 527 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in Shopify by 89.6% during the first quarter. Sequoia Financial Advisors LLC now owns 436 shares of the software maker’s stock valued at $295,000 after purchasing an additional 206 shares in the last quarter. 56.31% of the stock is owned by institutional investors and hedge funds.
Shopify Trading Up 0.1 %
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its quarterly earnings data on Thursday, May 4th. The software maker reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.08. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.44 billion. Shopify had a negative return on equity of 6.02% and a negative net margin of 32.49%. As a group, sell-side analysts expect that Shopify will post -0.46 EPS for the current year.
Shopify Company Profile
Shopify, Inc operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting.
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