Shopify’s (SHOP) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research note published on Monday, Benzinga reports. The firm currently has a $70.00 price target on the software maker’s stock.

Several other research firms also recently commented on SHOP. JMP Securities reissued a market outperform rating and issued a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. Roth Mkm upped their target price on shares of Shopify from $77.00 to $79.00 and gave the stock a buy rating in a report on Thursday, August 8th. UBS Group raised their price target on shares of Shopify from $71.00 to $75.00 and gave the stock a neutral rating in a research note on Thursday, August 8th. Argus raised shares of Shopify to a strong-buy rating in a research note on Thursday, August 8th. Finally, Loop Capital raised their target price on shares of Shopify from $68.00 to $80.00 and gave the stock a hold rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $77.92.

Shopify Stock Up 1.9 %

Shares of NYSE SHOP opened at $80.77 on Monday. The firm has a market cap of $104.09 billion, a price-to-earnings ratio of -475.00, a price-to-earnings-growth ratio of 2.68 and a beta of 2.35. The company’s 50-day simple moving average is $69.23 and its 200-day simple moving average is $68.48. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the previous year, the firm posted ($0.08) EPS. Shopify’s revenue was up 20.7% compared to the same quarter last year. Equities analysts predict that Shopify will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Several hedge funds have recently made changes to their positions in the company. DSM Capital Partners LLC acquired a new position in Shopify during the fourth quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new stake in Shopify in the 4th quarter valued at $28,000. Oliver Lagore Vanvalin Investment Group raised its position in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Shopify during the 4th quarter worth $39,000. Finally, Cultivar Capital Inc. acquired a new position in Shopify in the second quarter valued at $33,000. Hedge funds and other 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.