Shopify’s (SHOP) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $120.00 target price on the software maker’s stock.

Several other research analysts also recently commented on SHOP. Scotiabank raised their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Barclays boosted their target price on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. New Street Research assumed coverage on Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target on the stock. Oppenheimer boosted their price objective on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.21.

Shopify Price Performance

Shares of NYSE SHOP opened at $128.36 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $128.57. The stock has a market cap of $165.85 billion, a PE ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The stock has a fifty day moving average of $111.70 and a 200-day moving average of $92.27.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. Equities research analysts anticipate that Shopify will post 0.91 earnings per share for the current year.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHOP. Blue Rock Wealth Management LLC bought a new position in Shopify in the 4th quarter worth $659,000. Mercer Global Advisors Inc. ADV raised its stake in Shopify by 2.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 49,442 shares of the software maker’s stock worth $5,257,000 after buying an additional 1,372 shares in the last quarter. Keel Point LLC lifted its holdings in Shopify by 14.2% in the fourth quarter. Keel Point LLC now owns 3,020 shares of the software maker’s stock worth $321,000 after buying an additional 375 shares during the period. Davidson Kahn Capital Management LLC purchased a new position in shares of Shopify during the 4th quarter worth approximately $223,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Shopify by 3.0% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,606,525 shares of the software maker’s stock worth $170,889,000 after acquiring an additional 46,604 shares in the last quarter. 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.