Shopify (NYSE:SHOP) Upgraded at StockNews.com

Shopify (NYSE:SHOP) (TSE:SHOP) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

SHOP has been the topic of several other research reports. Barclays decreased their target price on Shopify from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 14th. Citigroup decreased their target price on Shopify from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Wednesday, February 14th. ATB Capital increased their target price on Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Roth Capital increased their target price on Shopify from $85.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Loop Capital decreased their target price on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Shopify presently has an average rating of “Hold” and an average target price of $78.30.

Shopify Stock Performance

Shopify stock opened at $70.55 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock has a fifty day moving average price of $75.48 and a two-hundred day moving average price of $72.38. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The firm has a market capitalization of $90.77 billion, a P/E ratio of 783.98 and a beta of 2.22.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. As a group, analysts anticipate that Shopify will post 0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Several institutional investors have recently modified their holdings of SHOP. Private Wealth Management Group LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its stake in shares of Shopify by 59.1% during the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares in the last quarter. DSM Capital Partners LLC bought a new stake in shares of Shopify during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in shares of Shopify during the 4th quarter worth approximately $28,000. Finally, Your Advocates Ltd. LLP increased its holdings in shares of Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

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.