Shopify Inc. (NYSE:SHOP) PT Set at $117.00 by Roth Capital
Shopify Inc. (NYSE:SHOP) (TSE:SH) has been given a $117.00 target price by equities research analysts at Roth Capital in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the software maker’s stock. Roth Capital’s price target points to a potential upside of 20.42% from the stock’s previous close.
Several other research analysts also recently commented on the company. Vetr downgraded Shopify from a “sell” rating to a “strong sell” rating and set a $73.40 target price for the company. in a research note on Monday, May 8th. CSFB restated an “outperform” rating and issued a $128.00 target price on shares of Shopify in a research note on Tuesday, May 23rd. Wedbush raised their target price on Shopify from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 3rd. Robert W. Baird restated an “outperform” rating and issued a $95.00 target price on shares of Shopify in a research note on Monday, May 15th. Finally, Eight Capital upgraded Shopify from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty have issued a buy rating to the stock. Shopify presently has an average rating of “Buy” and a consensus price target of $86.82.
Shares of Shopify (NYSE SHOP) traded down 0.61% during midday trading on Wednesday, hitting $96.57. 1,146,189 shares of the stock were exchanged. Shopify has a 1-year low of $33.20 and a 1-year high of $105.79. The firm’s market capitalization is $8.83 billion. The stock’s 50-day moving average price is $90.58 and its 200-day moving average price is $75.95.
Shopify (NYSE:SHOP) (TSE:SH) last issued its earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, topping the 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 business had revenue of $151.70 million during the quarter, compared to the consensus estimate of $143.94 million. During the same quarter last year, the company earned ($0.04) EPS. The firm’s revenue was up 75.2% compared to the same quarter last year. On average, analysts forecast that Shopify will post ($0.05) EPS for the current year.
Several large investors have recently added to or reduced their stakes in SHOP. Seven Bridges Advisors LLC purchased a new stake in Shopify during the second quarter valued at $120,000. FNY Partners Fund LP purchased a new stake in Shopify during the first quarter valued at $102,000. Toronto Dominion Bank raised its stake in Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock valued at $111,000 after buying an additional 973 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Shopify during the first quarter valued at $116,000. Finally, FNY Managed Accounts LLC purchased a new stake in Shopify during the first quarter valued at $136,000. Institutional investors own 60.98% of the company’s stock.
Shopify Company Profile
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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