Shopify (NYSE:SHOP) PT Raised to $67.00 at Piper Sandler

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target hoisted by Piper Sandler from $63.00 to $67.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Other equities research analysts have also recently issued research reports about the stock. Mizuho decreased their target price on shares of Shopify from $75.00 to $65.00 and set a neutral rating for the company in a research report on Thursday, May 9th. TD Securities lowered their price objective on Shopify from $80.00 to $72.00 and set a hold rating for the company in a research report on Thursday, May 9th. CIBC dropped their target price on Shopify from $100.00 to $85.00 and set an outperformer rating on the stock in a research note on Thursday, May 9th. Atb Cap Markets upgraded Shopify from a sector perform rating to an outperform rating in a research note on Wednesday, May 8th. Finally, Canaccord Genuity Group dropped their price target on Shopify from $90.00 to $80.00 and set a buy rating on the stock in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $77.62.

Shopify Trading Up 0.8 %

SHOP opened at $59.94 on Wednesday. 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 firm has a market cap of $77.24 billion, a price-to-earnings ratio of -352.59, a PEG ratio of 3.44 and a beta of 2.30. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The stock has a fifty day moving average price of $63.02 and a 200-day moving average price of $71.32.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Shopify will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SHOP. Private Wealth Management Group LLC purchased a new stake in Shopify in the 4th quarter worth $26,000. DSM Capital Partners LLC purchased a new stake in shares of Shopify during the fourth quarter worth about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Shopify during the 4th quarter worth about $28,000. Your Advocates Ltd. LLP lifted its stake in Shopify by 4,344.4% in the 4th quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after buying an additional 391 shares in the last quarter. Finally, Cultivar Capital Inc. acquired a new stake in Shopify in the 2nd quarter worth about $33,000. 69.27% of the stock is owned by institutional investors and hedge funds.

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.