Shopify Inc. (SHOP) Given Buy Rating at KeyCorp
Shopify Inc. (NYSE:SHOP)‘s stock had its “buy” rating reiterated by investment analysts at KeyCorp in a report issued on Sunday.
Other analysts also recently issued research reports about the company. Canaccord Genuity restated a “buy” rating and issued a $44.00 price target on shares of Shopify in a research note on Thursday, August 4th. Piper Jaffray Cos. set a $40.00 target price on Shopify and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Zacks Investment Research upgraded Shopify from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, July 12th. Monness Crespi & Hardt began coverage on Shopify in a research note on Wednesday, June 29th. They set a “buy” rating and a $35.00 target price on the stock. Finally, Pacific Crest reiterated a “buy” rating and set a $40.00 target price on shares of Shopify in a research note on Tuesday, August 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Shopify presently has a consensus rating of “Buy” and an average price target of $40.84.
Shopify (NYSE:SHOP) opened at 44.36 on Friday. Shopify has a 12 month low of $18.48 and a 12 month high of $45.20. The stock has a 50 day moving average price of $42.41 and a 200 day moving average price of $33.73. The stock’s market capitalization is $3.63 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/09/shopify-inc-shop-given-buy-rating-at-keycorp.html
Shopify (NYSE:SHOP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.04. The company had revenue of $86.36 million for the quarter, compared to the consensus estimate of $80.62 million. Shopify had a negative return on equity of 14.67% and a negative net margin of 10.03%. The firm’s quarterly revenue was up 92.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) EPS. On average, equities research analysts forecast that Shopify will post ($0.15) earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the company. First Mercantile Trust Co. acquired a new stake in shares of Shopify during the third quarter worth about $124,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Shopify during the second quarter worth about $104,000. Amica Retiree Medical Trust raised its stake in shares of Shopify by 80.9% in the second quarter. Amica Retiree Medical Trust now owns 3,695 shares of the company’s stock worth $114,000 after buying an additional 1,652 shares during the last quarter. Tocqueville Asset Management L.P. acquired a new stake in shares of Shopify during the second quarter worth about $246,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Shopify during the second quarter worth about $247,000. Institutional investors and hedge funds own 58.80% of the company’s stock.
Shopify Company Profile
Shopify Inc is a provider of cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, social media storefronts, such as Facebook, Twitter and Pinterest, and physical retail locations.
Receive News & Ratings for Shopify Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify Inc. and related companies with MarketBeat.com's FREE daily email newsletter.