Shopify (NYSE:SHOP) Price Target Lowered to $80.00 at Loop Capital

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lowered by Loop Capital from $90.00 to $80.00 in a research note released on Monday morning, Benzinga reports. Loop Capital currently has a hold rating on the software maker’s stock.

Several other research firms have also issued reports on SHOP. Royal Bank of Canada reissued an outperform rating and issued a $100.00 target price on shares of Shopify in a report on Wednesday, February 14th. Roth Capital raised their price objective on shares of Shopify from $85.00 to $89.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Robert W. Baird lifted their target price on shares of Shopify from $85.00 to $87.00 and gave the company an outperform rating in a research note on Wednesday, April 3rd. Truist Financial increased their price target on Shopify from $65.00 to $90.00 and gave the stock a hold rating in a research note on Monday, February 12th. Finally, ATB Capital boosted their price objective on Shopify from $105.00 to $110.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $78.00.

Shopify Trading Up 0.1 %

Shares of SHOP stock opened at $69.51 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The company has a market cap of $89.43 billion, a price-to-earnings ratio of 772.42 and a beta of 2.22. Shopify has a 1 year low of $45.50 and a 1 year high of $91.57. The firm has a fifty day moving average price of $76.77 and a 200-day moving average price of $71.73.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, equities analysts predict that Shopify will post 0.58 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

Several hedge funds have recently added to or reduced their stakes in SHOP. StoneCrest Wealth Management Inc. bought a new position in shares of Shopify during the fourth quarter valued at approximately $1,164,000. Asset Management One Co. Ltd. grew its position in Shopify by 4,007.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker’s stock valued at $2,807,000 after acquiring an additional 34,624 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Shopify in the fourth quarter worth $433,000. Bleakley Financial Group LLC lifted its position in shares of Shopify by 18.5% during the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker’s stock worth $840,000 after purchasing an additional 1,681 shares during the last quarter. Finally, Advisor Resource Council purchased a new stake in shares of Shopify during the fourth quarter valued at $1,488,000. 69.27% of the stock is currently owned by institutional investors.

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.