Shopify (NYSE:SHOP) Rating Increased to Outperform at BNP Paribas

Shopify (NYSE:SHOP) (TSE:SHOP) was upgraded by equities researchers at BNP Paribas from an “underperform” rating to an “outperform” rating in a research report issued on Thursday, FinViz reports.

A number of other brokerages have also issued reports on SHOP. StockNews.com upgraded shares of Shopify from a “sell” rating to a “hold” rating in a research note on Wednesday, April 24th. Jefferies Financial Group upped their target price on shares of Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, January 5th. CIBC lifted their price target on Shopify from $82.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group boosted their price objective on Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 target price on shares of Shopify in a report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $78.62.

Shopify Stock Up 0.3 %

Shares of Shopify stock opened at $70.38 on Thursday. Shopify has a 1-year low of $45.50 and a 1-year high of $91.57. The company has a market capitalization of $90.55 billion, a PE ratio of 782.09 and a beta of 2.20. 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 business has a 50-day moving average of $74.83 and a 200-day moving average of $73.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that Shopify will post 0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Private Wealth Management Group LLC acquired a new position in shares of Shopify in the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. grew its position in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after purchasing an additional 130 shares in the last quarter. DSM Capital Partners LLC acquired a new position in Shopify in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp purchased a new stake in Shopify in the 4th quarter worth approximately $28,000. Finally, Your Advocates Ltd. LLP boosted its stake 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 valued at $31,000 after buying an additional 391 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

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.