Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective hoisted by Mackie from $280.00 to $360.00 in a report released on Monday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the software maker’s stock.
Other equities research analysts also recently issued reports about the company. Wells Fargo & Co decreased their price target on WellCare Health Plans from $346.00 to $330.00 and set an outperform rating for the company in a report on Wednesday, May 1st. Royal Bank of Canada reaffirmed an outperform rating on shares of in a report on Friday, June 21st. SunTrust Banks increased their price target on Mcdonald’s to $230.00 and gave the stock a buy rating in a report on Wednesday, May 1st. CIBC downgraded Shopify from an outperform rating to a neutral rating and increased their price target for the stock from $260.00 to $350.00 in a report on Thursday, June 20th. They noted that the move was a valuation call. Finally, Barclays increased their price target on from GBX 200 ($2.61) to GBX 210 ($2.74) and gave the stock an equal weight rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $304.25.
SHOP stock opened at $331.15 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 12.56 and a quick ratio of 12.57. The company has a 50 day moving average price of $306.09. Shopify has a twelve month low of $117.64 and a twelve month high of $338.94. The firm has a market capitalization of $35.38 billion, a P/E ratio of -542.87 and a beta of 1.30.
Large investors have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC increased its position in shares of Shopify by 328.1% in the first quarter. Valeo Financial Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after buying an additional 105 shares in the last quarter. Tortoise Investment Management LLC purchased a new position in shares of Shopify in the first quarter valued at $29,000. Sound Income Strategies LLC increased its position in shares of Shopify by 8,100.0% in the first quarter. Sound Income Strategies LLC now owns 164 shares of the software maker’s stock valued at $34,000 after buying an additional 162 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new position in shares of Shopify in the first quarter valued at $35,000. Finally, Signaturefd LLC increased its position in shares of Shopify by 56.9% in the first quarter. Signaturefd LLC now owns 171 shares of the software maker’s stock valued at $35,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 66.47% of the company’s stock.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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