Shopify Inc. (SHOP) Raised to “Strong-Buy” at Vetr Inc.
Shopify Inc. (NYSE:SHOP) (TSE:SH) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday. The brokerage presently has a $102.78 price objective on the software maker’s stock. Vetr‘s price target indicates a potential upside of 13.58% from the company’s previous close.
SHOP has been the subject of several other reports. CSFB restated an “outperform” rating and issued a $128.00 price objective on shares of Shopify in a report on Tuesday, May 23rd. Royal Bank Of Canada lifted their price objective on Shopify from $77.00 to $78.00 and gave the company a “sector perform” rating in a report on Wednesday, May 3rd. SunTrust Banks, Inc. assumed coverage on Shopify in a report on Monday, June 26th. They issued a “hold” rating and a $90.00 price objective for the company. BTIG Research restated a “buy” rating and issued a $75.00 price objective (up from $65.00) on shares of Shopify in a report on Tuesday, March 21st. Finally, BidaskClub downgraded Shopify from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $79.13.
Shares of Shopify (NYSE SHOP) traded down 2.08% during midday trading on Monday, reaching $90.49. 1,520,636 shares of the company’s stock traded hands. The firm’s market capitalization is $8.27 billion. The stock’s 50-day moving average price is $91.40 and its 200 day moving average price is $68.12. Shopify has a one year low of $31.82 and a one year high of $100.80.
Shopify (NYSE:SHOP) (TSE:SH) last released its quarterly earnings data on Tuesday, May 2nd. The software maker reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.07. The firm had revenue of $127.40 million during the quarter, compared to the consensus estimate of $121.67 million. Shopify had a negative return on equity of 11.26% and a negative net margin of 9.01%. The firm’s quarterly revenue was up 75.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, equities research analysts expect that Shopify will post ($0.14) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of the company. Eqis Capital Management Inc. acquired a new stake in shares of Shopify during the second quarter worth $672,000. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Shopify during the second quarter worth $1,120,000. Nadler Financial Group Inc. raised its stake in shares of Shopify by 0.9% in the second quarter. Nadler Financial Group Inc. now owns 3,033 shares of the software maker’s stock worth $264,000 after buying an additional 28 shares during the last quarter. Steadfast Capital Management LP acquired a new stake in shares of Shopify during the first quarter worth $21,630,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Shopify by 149.6% in the first quarter. Tower Research Capital LLC TRC now owns 3,390 shares of the software maker’s stock worth $230,000 after buying an additional 2,032 shares during the last quarter. Institutional investors and hedge funds own 61.34% of the company’s stock.
Shopify Company Profile
Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The Company offers subscription solutions and merchant solutions. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.
To view Vetr’s full report, visit Vetr’s official website.
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