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

Cantor Fitzgerald restated their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a report issued on Wednesday,Benzinga reports. They currently have a $120.00 price target on the software maker’s stock.

Several other analysts have also recently issued reports on SHOP. Wedbush reaffirmed an “outperform” rating and set a $125.00 price objective on shares of Shopify in a report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Shopify from $88.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Monday. KeyCorp lifted their price target on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Finally, JMP Securities restated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify currently has an average rating of “Moderate Buy” and an average target price of $125.14.

Shopify Trading Down 2.5 %

Shopify stock opened at $120.46 on Wednesday. Shopify has a 1 year low of $48.56 and a 1 year high of $125.95. The firm’s 50 day moving average price is $111.29 and its 200-day moving average price is $91.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The stock has a market cap of $155.65 billion, a P/E ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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%. On average, equities analysts predict that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SHOP. GAMMA Investing LLC boosted its stake in Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock valued at $48,000 after acquiring an additional 253 shares in the last quarter. CWM LLC lifted its holdings in shares of Shopify by 14.9% during the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock valued at $1,130,000 after purchasing an additional 1,832 shares during the last quarter. Creative Planning boosted its position in shares of Shopify by 4.4% in the 3rd quarter. Creative Planning now owns 392,415 shares of the software maker’s stock worth $31,448,000 after purchasing an additional 16,375 shares in the last quarter. NBC Securities Inc. grew its stake in Shopify by 32.2% during the 3rd quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock worth $705,000 after buying an additional 2,146 shares during the last quarter. Finally, Prospect Financial Services LLC acquired a new position in Shopify during the 3rd quarter valued at about $288,000. 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.