Oppenheimer Holdings, Inc. Reiterates “Hold” Rating for Shopify Inc. (SHOP)
Shopify Inc. (NYSE:SHOP) (TSE:SH)‘s stock had its “hold” rating reaffirmed by equities research analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Wednesday.
SHOP has been the topic of a number of other reports. Vetr lowered Shopify from a “sell” rating to a “strong sell” rating and set a $73.40 price objective on the stock. in a report on Monday, May 8th. CSFB reaffirmed an “outperform” rating and issued a $128.00 price objective on shares of Shopify in a report on Tuesday, May 23rd. Wedbush upped their price objective on Shopify from $85.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Shopify in a report on Monday, May 15th. Finally, Eight Capital raised Shopify from a “neutral” rating to a “buy” rating in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and twenty have given a buy rating to the company’s stock. Shopify currently has an average rating of “Buy” and an average target price of $88.33.
Shopify (NYSE SHOP) traded down 1.37% during trading on Wednesday, hitting $95.19. 1,750,624 shares of the stock traded hands. The firm’s 50-day moving average is $91.55 and its 200 day moving average is $76.40. Shopify has a 52 week low of $37.00 and a 52 week high of $105.79. The stock’s market cap is $9.38 billion.
Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. Shopify had a negative return on equity of 8.26% and a negative net margin of 8.96%. The business had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $143.94 million. During the same quarter in the prior year, the business earned ($0.04) EPS. The firm’s revenue for the quarter was up 75.2% on a year-over-year basis. Equities research analysts forecast that Shopify will post ($0.05) earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Sterling Investment Advisors Ltd. increased its position in shares of Shopify by 100.0% in the second quarter. Sterling Investment Advisors Ltd. now owns 2,000 shares of the software maker’s stock worth $174,000 after buying an additional 1,000 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Shopify during the second quarter worth about $297,000. Gerber Kawasaki Wealth & Investment Management bought a new position in shares of Shopify during the second quarter worth about $636,000. Intact Investment Management Inc. bought a new position in shares of Shopify during the second quarter worth about $1,516,000. Finally, Banque Pictet & Cie SA bought a new position in shares of Shopify during the second quarter worth about $417,000. Institutional investors own 61.47% 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.
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