Shopify (NYSE:SHOP) Earns Buy Rating from Analysts at Argus

Argus started coverage on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report released on Wednesday, Briefing.com Automated Import reports. The firm issued a buy rating and a $1,050.00 price objective on the software maker’s stock.

Other equities research analysts have also issued reports about the stock. Roth Capital reiterated a hold rating and issued a $625.00 target price (up from $320.00) on shares of Shopify in a report on Wednesday, May 6th. Robert W. Baird reiterated a buy rating on shares of Shopify in a report on Tuesday, May 19th. ValuEngine lowered shares of Shopify from a buy rating to a hold rating in a report on Friday, May 1st. Loop Capital increased their target price on shares of Shopify from $350.00 to $700.00 and gave the stock a hold rating in a report on Thursday, May 7th. Finally, Credit Suisse Group reiterated a neutral rating on shares of Shopify in a report on Thursday, May 21st. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $700.75.

Shares of NYSE SHOP opened at $1,029.97 on Wednesday. The company’s 50 day simple moving average is $811.26 and its 200 day simple moving average is $559.72. Shopify has a fifty-two week low of $282.08 and a fifty-two week high of $1,059.44. The firm has a market capitalization of $120.77 billion, a P/E ratio of -887.91 and a beta of 1.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 9.45 and a quick ratio of 9.45.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, May 6th. The software maker reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.89. The company had revenue of $470.00 million for the quarter, compared to analyst estimates of $442.92 million. Shopify had a negative net margin of 7.65% and a negative return on equity of 2.56%. The business’s revenue for the quarter was up 46.6% compared to the same quarter last year. During the same period last year, the business posted $0.09 earnings per share. Sell-side analysts expect that Shopify will post -1.63 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cetera Advisor Networks LLC grew its position in Shopify by 0.5% in the first quarter. Cetera Advisor Networks LLC now owns 2,707 shares of the software maker’s stock valued at $1,129,000 after purchasing an additional 14 shares in the last quarter. Baldwin Investment Management LLC grew its position in Shopify by 1.1% in the first quarter. Baldwin Investment Management LLC now owns 1,516 shares of the software maker’s stock valued at $632,000 after purchasing an additional 16 shares in the last quarter. Advisory Alpha LLC grew its position in shares of Shopify by 8.2% in the 4th quarter. Advisory Alpha LLC now owns 263 shares of the software maker’s stock valued at $116,000 after acquiring an additional 20 shares during the period. Asset Dedication LLC grew its position in shares of Shopify by 20.0% in the 1st quarter. Asset Dedication LLC now owns 120 shares of the software maker’s stock valued at $50,000 after acquiring an additional 20 shares during the period. Finally, Osborn Williams & Donohoe LLC grew its position in shares of Shopify by 4.0% in the 1st quarter. Osborn Williams & Donohoe LLC now owns 525 shares of the software maker’s stock valued at $219,000 after acquiring an additional 20 shares during the period. 60.27% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Shopify (NYSE:SHOP)

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