Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP)‘s stock had its “neutral” rating reiterated by stock analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They presently have a $120.00 price target on the software maker’s stock. Cantor Fitzgerald’s price target indicates a potential downside of 3.21% from the company’s current price.
Several other research analysts have also weighed in on the company. Citigroup increased their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. KeyCorp boosted their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price target on shares of Shopify in a report on Wednesday, January 22nd. Finally, Moffett Nathanson lifted their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Shopify presently has an average rating of “Moderate Buy” and an average target price of $106.51.
View Our Latest Report on Shopify
Shopify Trading Up 3.4 %
Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, equities analysts predict that Shopify will post 0.91 earnings per share for the current year.
Institutional Trading of Shopify
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 shares during the period. CWM LLC boosted its holdings in shares of Shopify by 14.9% in the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after acquiring an additional 1,832 shares in the last quarter. Creative Planning boosted its holdings in shares of Shopify by 4.4% in the third quarter. Creative Planning now owns 392,415 shares of the software maker’s stock valued at $31,448,000 after acquiring an additional 16,375 shares in the last quarter. NBC Securities Inc. increased its stake in shares of Shopify by 32.2% during the third quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock valued at $705,000 after acquiring an additional 2,146 shares during the period. Finally, Prospect Financial Services LLC bought a new stake in Shopify during the third quarter worth approximately $288,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.
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.
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