Shopify (SHOP) Shares Up 5.1%
Shopify Inc (NYSE:SHOP) (TSE:SHOP)’s share price shot up 5.1% on Thursday . The company traded as high as $151.27 and last traded at $150.09. 1,863,841 shares were traded during trading, an increase of 11% from the average session volume of 1,681,676 shares. The stock had previously closed at $142.76.
A number of research firms have recently weighed in on SHOP. Barclays upped their price target on shares of Shopify from $125.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Monday, July 23rd. They noted that the move was a valuation call. Jefferies Financial Group began coverage on shares of Shopify in a research note on Monday, October 1st. They set a “hold” rating and a $175.00 price target on the stock. Macquarie set a $185.00 price target on shares of Shopify and gave the stock a “buy” rating in a research note on Friday, October 26th. Piper Jaffray Companies cut shares of Shopify from an “overweight” rating to a “neutral” rating and set a $145.00 price target on the stock. in a research note on Tuesday, July 31st. Finally, Roth Capital upped their price target on shares of Shopify from $165.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, July 24th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $164.90.
The company has a market cap of $14.42 billion, a P/E ratio of -357.36 and a beta of 1.40. The company has a current ratio of 11.82, a quick ratio of 11.82 and a debt-to-equity ratio of 0.01.
A number of hedge funds and other institutional investors have recently modified their holdings of SHOP. WCM Investment Management CA grew its stake in Shopify by 105,403.1% in the 2nd quarter. WCM Investment Management CA now owns 5,802,669 shares of the software maker’s stock valued at $846,551,000 after acquiring an additional 5,797,169 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Shopify by 85.1% in the 3rd quarter. Baillie Gifford & Co. now owns 3,113,361 shares of the software maker’s stock valued at $512,024,000 after purchasing an additional 1,431,238 shares in the last quarter. FIL Ltd lifted its holdings in Shopify by 32.6% in the 3rd quarter. FIL Ltd now owns 3,685,335 shares of the software maker’s stock valued at $605,735,000 after purchasing an additional 905,538 shares in the last quarter. Jennison Associates LLC lifted its holdings in Shopify by 306.4% in the 3rd quarter. Jennison Associates LLC now owns 1,155,211 shares of the software maker’s stock valued at $189,986,000 after purchasing an additional 870,953 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Shopify by 28.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,698,940 shares of the software maker’s stock valued at $279,332,000 after purchasing an additional 379,070 shares in the last quarter. 61.54% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY WARNING: “Shopify (SHOP) Shares Up 5.1%” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2018/11/15/shopify-shop-shares-up-5-1.html.
About Shopify (NYSE:SHOP)
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
Receive News & Ratings for Shopify Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shopify and related companies with MarketBeat.com's FREE daily email newsletter.