Shopify (NYSE:SHOP) Trading 0.8% Higher – Here’s What Happened

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) shares traded up 0.8% on Thursday . The company traded as high as $109.45 and last traded at $107.02. 4,624,203 shares were traded during trading, a decline of 42% from the average session volume of 8,013,130 shares. The stock had previously closed at $106.15.

Analyst Ratings Changes

Several equities analysts have weighed in on SHOP shares. Wedbush reissued an “outperform” rating and set a $125.00 price target on shares of Shopify in a research report on Tuesday, February 11th. Moffett Nathanson upped their price objective on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. TD Securities lifted their price target on shares of Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. CIBC increased their target price on Shopify from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Finally, New Street Research started coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target for the company. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Stock Down 3.6 %

The company has a 50 day moving average price of $112.57 and a 200-day moving average price of $97.59. The company has a market cap of $132.48 billion, a P/E ratio of 66.07, a PEG ratio of 4.82 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, research analysts expect that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of large investors have recently added to or reduced their stakes in SHOP. Cim LLC acquired a new stake in Shopify during the 4th quarter worth about $1,313,000. Total Wealth Planning & Management Inc. acquired a new stake in Shopify in the fourth quarter valued at approximately $232,000. Brooklyn FI LLC acquired a new position in shares of Shopify during the 4th quarter valued at about $452,000. Brucke Financial Inc. acquired a new stake in shares of Shopify in the fourth quarter worth $718,000. Finally, Capital A Wealth Management LLC bought a new stake in Shopify during the fourth quarter valued at about $340,000. 69.27% of the stock is currently owned by institutional investors.

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.