Shopify Sees Unusually Large Options Volume (SHOP)
Shopify Inc. (NYSE:SHOP) (TSE:SH) was the recipient of some unusual options trading on Wednesday. Traders bought 5,199 put options on the company. This represents an increase of 129% compared to the typical daily volume of 2,271 put options.
A number of equities research analysts have recently commented on SHOP shares. Roth Capital raised their target price on Shopify from $82.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Vetr upgraded Shopify from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, May 30th. Industrial Alliance Securities lifted their price objective on Shopify from $87.00 to $134.00 and gave the stock a “buy” rating in a report on Friday, May 26th. BidaskClub cut Shopify from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Shopify from a “hold” rating to a “buy” rating and set a $101.00 price objective on the stock in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $90.93.
Shares of Shopify (NYSE:SHOP) opened at 110.86 on Friday. The stock’s market cap is $10.93 billion. The stock’s 50 day moving average is $96.81 and its 200 day moving average is $83.19. Shopify has a 52-week low of $37.74 and a 52-week high of $112.00.
Shopify (NYSE:SHOP) (TSE:SH) last issued its earnings results on Tuesday, August 1st. The software maker reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The business had revenue of $151.70 million for the quarter, compared to the consensus estimate of $143.94 million. During the same quarter last year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 75.2% compared to the same quarter last year. On average, equities analysts expect that Shopify will post ($0.05) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the stock. Seven Bridges Advisors LLC acquired a new position in shares of Shopify during the second quarter worth approximately $120,000. Advisory Services Network LLC increased its position in shares of Shopify by 26.6% in the second quarter. Advisory Services Network LLC now owns 1,420 shares of the software maker’s stock worth $123,000 after buying an additional 298 shares in the last quarter. FNY Partners Fund LP acquired a new position in shares of Shopify during the first quarter worth approximately $102,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Shopify during the second quarter worth approximately $135,000. Finally, Toronto Dominion Bank increased its position in shares of Shopify by 148.1% in the first quarter. Toronto Dominion Bank now owns 1,630 shares of the software maker’s stock worth $111,000 after buying an additional 973 shares in the last quarter. 53.78% of the stock is currently owned by institutional investors and hedge funds.
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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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