Shopify’s (SHOP) “Neutral” Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research note published on Tuesday,RTT News reports. The firm currently has a $115.00 price objective on the software maker’s stock, up from their prior price objective of $72.00.

SHOP has been the topic of a number of other reports. Robert W. Baird boosted their target price on shares of Shopify from $79.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 9th. KeyCorp assumed coverage on Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 price objective for the company. Argus raised Shopify to a “strong-buy” rating in a report on Thursday, August 8th. Loop Capital increased their price target on Shopify from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 price objective on shares of Shopify in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and an average price target of $94.95.

Shopify Stock Down 5.2 %

Shares of NYSE:SHOP opened at $109.08 on Tuesday. Shopify has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a market capitalization of $140.76 billion, a PE ratio of 101.94, a price-to-earnings-growth ratio of 3.71 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10. The company has a fifty day moving average of $80.36 and a 200-day moving average of $70.50.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. 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 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several institutional investors have recently bought and sold shares of SHOP. Oliver Lagore Vanvalin Investment Group boosted its holdings in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Cultivar Capital Inc. bought a new position in shares of Shopify during the second quarter valued at about $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify during the second quarter worth about $33,000. Brooklyn Investment Group bought a new stake in Shopify in the 3rd quarter worth about $33,000. Finally, Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the last quarter. 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.