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.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Thursday, October 25th. The software maker reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.34. The firm had revenue of $270.06 million for the quarter, compared to analysts’ expectations of $257.17 million. Shopify had a negative net margin of 6.93% and a negative return on equity of 4.26%. As a group, research analysts anticipate that Shopify Inc will post -0.63 EPS for the current year.

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.

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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.

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