Shopify’s (SHOP) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report released on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $70.00 price objective on the software maker’s stock.

Other equities analysts have also issued research reports about the company. Barclays lifted their price target on Shopify from $65.00 to $70.00 and gave the company an equal weight rating in a research note on Tuesday, October 1st. Argus raised Shopify to a strong-buy rating in a research note on Thursday, August 8th. Wedbush reiterated a neutral rating and set a $72.00 target price (up previously from $68.00) on shares of Shopify in a research report on Wednesday, August 7th. Royal Bank of Canada reissued an outperform rating and issued a $85.00 price target on shares of Shopify in a report on Thursday, August 8th. Finally, Morgan Stanley increased their price objective on shares of Shopify from $80.00 to $85.00 and gave the company an overweight rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Shopify currently has a consensus rating of Moderate Buy and an average price target of $78.38.

Shopify Stock Down 1.9 %

Shopify stock opened at $80.88 on Monday. The business’s 50-day moving average price is $71.79 and its 200 day moving average price is $68.51. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The firm has a market cap of $104.23 billion, a price-to-earnings ratio of -475.65, a price-to-earnings-growth ratio of 2.65 and a beta of 2.36. Shopify has a 52 week low of $45.50 and a 52 week high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter last year, the company earned ($0.08) EPS. The business’s revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Shopify will post 0.76 earnings per share for the current year.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors increased its stake in Shopify by 26.2% during the 1st quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after buying an additional 10,340,040 shares during the period. Vanguard Group Inc. grew its stake in shares of Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after acquiring an additional 713,064 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after acquiring an additional 5,982,434 shares during the period. GQG Partners LLC raised its stake in shares of Shopify by 197.9% in the first quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after acquiring an additional 13,885,473 shares in the last quarter. Finally, Capital International Investors boosted its holdings in Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker’s stock valued at $1,264,982,000 after purchasing an additional 542,503 shares during the period. 69.27% of the stock is currently owned by hedge funds and other 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.