Shopify Inc. (NYSE:SHOP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have been given an average rating of “Moderate Buy” by the forty analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $99.03.

SHOP has been the subject of several recent analyst reports. Barclays raised their price target on Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research note on Monday, October 7th. Oppenheimer upped their price target on shares of Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Atb Cap Markets downgraded shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Scotiabank upped their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently made changes to their positions in SHOP. Sunbelt Securities Inc. raised its position in shares of Shopify by 0.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock worth $1,162,000 after purchasing an additional 105 shares during the last quarter. Moser Wealth Advisors LLC raised its holdings in shares of Shopify by 1.4% during the third quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after acquiring an additional 128 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Shopify by 7.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after acquiring an additional 129 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after acquiring an additional 133 shares in the last quarter. Finally, CVA Family Office LLC boosted its stake in shares of Shopify by 11.8% in the third quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after acquiring an additional 143 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Down 0.6 %

Shopify stock opened at $114.63 on Friday. Shopify has a 1-year low of $48.56 and a 1-year high of $120.72. The business has a fifty day moving average price of $95.50 and a 200-day moving average price of $77.39. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The stock has a market capitalization of $148.11 billion, a price-to-earnings ratio of 107.13, a PEG ratio of 3.05 and a beta of 2.46.

About Shopify

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.