Shopify (NYSE:SHOP) Receives Neutral Rating from Cantor Fitzgerald

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

Several other brokerages also recently weighed in on SHOP. Wells Fargo & Company upped their target price on shares of Shopify from $80.00 to $90.00 and gave the company an overweight rating in a research note on Wednesday, September 11th. Benchmark reiterated a hold rating on shares of Shopify in a report on Tuesday, August 6th. JMP Securities restated a market outperform rating and set a $80.00 target price on shares of Shopify in a research note on Tuesday, September 10th. Roth Mkm boosted their price target on Shopify from $77.00 to $79.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Finally, Redburn Atlantic upgraded Shopify from a neutral rating to a buy rating and set a $99.00 price objective for the company in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of Moderate Buy and a consensus price target of $78.38.

Shopify Trading Down 1.2 %

NYSE:SHOP opened at $78.15 on Monday. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The business’s 50-day moving average is $71.34 and its two-hundred day moving average is $68.63. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The firm has a market capitalization of $100.71 billion, a PE ratio of -459.71, a price-to-earnings-growth ratio of 2.65 and a beta of 2.35.

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

Hedge Funds Weigh In On Shopify

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHOP. Capital World Investors boosted its position in Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after acquiring an additional 10,340,040 shares during the period. Vanguard Group Inc. raised its stake in shares of Shopify by 1.7% during the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after purchasing an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Shopify by 21.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares during the period. GQG Partners LLC grew its position in Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after buying an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors increased its stake in Shopify by 3.4% during the 1st quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after buying an additional 542,503 shares during the period. 69.27% of the stock is owned by institutional investors.

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.