A number of research firms have changed their ratings and price targets for Shopify (NYSE: SHOP):

  • 10/2/2017 – Shopify was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $122.30 price target on the stock.
  • 9/29/2017 – Shopify had its “buy” rating reaffirmed by analysts at Robert W. Baird. They now have a $110.00 price target on the stock.
  • 9/26/2017 – Shopify was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $121.02 price target on the stock.
  • 9/20/2017 – Shopify had its price target raised by analysts at Macquarie from $121.00 to $146.00. They now have an “outperform” rating on the stock.
  • 9/12/2017 – Shopify was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $120.91 price target on the stock.
  • 9/8/2017 – Shopify had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $116.00 price target on the stock.
  • 9/6/2017 – Shopify is now covered by analysts at DA Davidson. They set a “neutral” rating and a $95.00 price target on the stock.
  • 9/5/2017 – Shopify had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $110.00 price target on the stock.
  • 8/25/2017 – Shopify was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 8/24/2017 – Shopify is now covered by analysts at Ifs Securities. They set an “outperform” rating and a $115.00 price target on the stock.
  • 8/24/2017 – Shopify was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $116.20 price target on the stock.
  • 8/9/2017 – Shopify had its “hold” rating reaffirmed by analysts at Oppenheimer Holdings, Inc..
  • 8/9/2017 – Shopify was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $107.76 price target on the stock.
  • 8/8/2017 – Shopify had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $115.00 price target on the stock, up previously from $100.00.
  • 8/8/2017 – Shopify had its “sector perform” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $99.00 price target on the stock, up previously from $78.00.
  • 8/7/2017 – Shopify was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shopify's second-quarter 2017 results were impressive. The company's year-over-year revenue growth showed that Shopify’s cloud-based, multi-tenant, omni-channel, scalable platform is gaining adoption. The company continues to win new merchants, which surpassed 0.5 million at the end of quarter. The company is benefiting from retail’s rapid transition to mobile and social sales channels. Moreover, availability of Apple Pay and addition of eBay, Amazon and Facebook Messenger as sales channels are significant positives. Shopify has outperformed the broader industry on a year-to-date basis. However, the company’s increasing investments on product development, infrastructure and platform will continue to hurt profitability at least in 2017. We observe that the company is yet to report profit, which doesn’t augur well for investors.”

Shopify Inc. (NYSE:SHOP) traded down 9.8379% on Wednesday, hitting $105.3183. The stock had a trading volume of 11,486,788 shares. The company’s market cap is $10.38 billion. The company has a 50-day moving average of $118.66 and a 200 day moving average of $118.66. Shopify Inc. has a 12 month low of $37.74 and a 12 month high of $123.94.

Shopify (NYSE:SHOP) (TSE:SH) last posted its quarterly earnings data on Tuesday, August 1st. The software maker reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $143.94 million. During the same period in the previous year, the firm posted ($0.04) EPS. Shopify’s revenue was up 75.2% compared to the same quarter last year. On average, analysts predict that Shopify Inc. will post ($0.04) EPS for the current fiscal year.

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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