Shopify (NYSE:SHOP) Trading Up 0.1%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) shares were up 0.1% during mid-day trading on Monday . The stock traded as high as $60.57 and last traded at $59.99. Approximately 1,236,756 shares traded hands during trading, a decline of 88% from the average daily volume of 9,944,271 shares. The stock had previously closed at $59.94.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SHOP shares. Royal Bank of Canada cut their price objective on shares of Shopify from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Evercore ISI upgraded shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Friday, June 14th. Morgan Stanley upgraded shares of Shopify from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $85.00 in a report on Friday, April 19th. Citigroup upped their price objective on shares of Shopify from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, JMP Securities upgraded shares of Shopify from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.62.

Shopify Stock Up 0.1 %

The stock has a market cap of $77.33 billion, a PE ratio of -352.88, a price-to-earnings-growth ratio of 3.47 and a beta of 2.30. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $63.02 and a 200-day moving average price of $71.25.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. As a group, analysts forecast that Shopify Inc. will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC acquired a new position in shares of Shopify during the 4th quarter valued at about $26,000. DSM Capital Partners LLC acquired a new position in shares of Shopify during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify during the 4th quarter valued at about $28,000. Your Advocates Ltd. LLP boosted its position in shares of Shopify by 4,344.4% during the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after acquiring an additional 391 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A acquired a new position in shares of Shopify during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

Shopify Company Profile

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.