Shopify (NYSE:SHOP) Given a $400.00 Price Target by National Bank Financial Analysts

National Bank Financial set a $400.00 target price on Shopify (NYSE:SHOP) (TSE:SHOP) in a report issued on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the software maker’s stock.

SHOP has been the subject of a number of other reports. Piper Jaffray Companies raised their price target on shares of Shopify from $286.00 to $320.00 and gave the company a neutral rating in a report on Thursday, August 1st. Guggenheim lowered shares of Shopify from a buy rating to a neutral rating in a report on Monday, May 13th. They noted that the move was a valuation call. Raymond James upped their price objective on shares of Shopify from $270.00 to $365.00 and gave the company an outperform rating in a research report on Friday, August 2nd. Rosenblatt Securities upped their price objective on shares of Shopify from $410.00 to $481.00 and gave the company a buy rating in a research report on Tuesday, August 27th. Finally, Robert W. Baird raised their target price on Shopify from $370.00 to $410.00 and gave the company an outperform rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. Shopify presently has a consensus rating of Hold and a consensus price target of $335.88.

NYSE SHOP traded up $10.27 on Tuesday, reaching $347.51. The company had a trading volume of 3,196,958 shares, compared to its average volume of 1,792,052. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.44 and a quick ratio of 11.44. Shopify has a 1 year low of $117.64 and a 1 year high of $409.61. The firm has a 50-day moving average of $361.45 and a 200-day moving average of $281.04. The firm has a market capitalization of $37.62 billion, a PE ratio of -569.69 and a beta of 1.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Thursday, August 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.45. Shopify had a negative net margin of 5.98% and a negative return on equity of 3.85%. The company had revenue of $361.98 million for the quarter, compared to analyst estimates of $350.59 million. During the same quarter last year, the firm posted $0.02 earnings per share. The business’s quarterly revenue was up 47.8% on a year-over-year basis. As a group, sell-side analysts expect that Shopify will post -0.82 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank grew its position in shares of Shopify by 68.2% in the 2nd quarter. Toronto Dominion Bank now owns 289,392 shares of the software maker’s stock worth $86,938,000 after acquiring an additional 117,292 shares in the last quarter. Griffin Asset Management Inc. lifted its stake in Shopify by 141.5% during the second quarter. Griffin Asset Management Inc. now owns 5,795 shares of the software maker’s stock worth $1,739,000 after purchasing an additional 3,395 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Shopify during the second quarter worth $83,000. Strategy Capital LLC boosted its holdings in Shopify by 3.5% in the second quarter. Strategy Capital LLC now owns 184,145 shares of the software maker’s stock worth $55,271,000 after purchasing an additional 6,229 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in Shopify by 10.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,693 shares of the software maker’s stock worth $6,843,000 after purchasing an additional 2,226 shares during the period. 59.63% of the stock is owned by hedge funds and other institutional investors.

About Shopify

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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Analyst Recommendations for Shopify (NYSE:SHOP)

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