MCF Advisors LLC Boosts Stake in Shopify Inc. (NYSE:SHOP)

MCF Advisors LLC lifted its holdings in Shopify Inc. (NYSE:SHOP) (TSE:SHOP) by 15.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,120 shares of the software maker’s stock after buying an additional 280 shares during the period. MCF Advisors LLC’s holdings in Shopify were worth $164,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SHOP. Private Wealth Management Group LLC bought a new stake in Shopify in the fourth quarter worth about $26,000. SJS Investment Consulting Inc. raised its holdings in shares of Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after purchasing an additional 130 shares during the period. DSM Capital Partners LLC bought a new stake in shares of Shopify in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp purchased a new position in Shopify in the fourth quarter valued at approximately $28,000. Finally, Your Advocates Ltd. LLP grew its holdings in Shopify by 4,344.4% during the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock valued at $31,000 after purchasing an additional 391 shares during the period. 69.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SHOP has been the topic of several research reports. Wells Fargo & Company lowered their target price on Shopify from $85.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Barclays dropped their price objective on shares of Shopify from $68.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. CIBC reduced their target price on shares of Shopify from $100.00 to $85.00 and set an “outperformer” rating for the company in a research note on Thursday, May 9th. The Goldman Sachs Group boosted their price target on shares of Shopify from $67.00 to $74.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Evercore raised shares of Shopify from an “in-line” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

Shopify Stock Performance

Shares of SHOP stock opened at $66.05 on Friday. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $64.20 and a two-hundred day moving average price of $73.01. Shopify Inc. has a 12-month low of $45.50 and a 12-month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, May 8th. The software maker reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.84 billion. Research analysts predict that Shopify Inc. will post 0.61 earnings per share for the current year.

Shopify 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.