Consolidated Portfolio Review Corp bought a new position in shares of Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,255 shares of the software maker's stock, valued at approximately $260,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Worth Asset Management LLC bought a new stake in Shopify during the second quarter valued at approximately $236,000. Avior Wealth Management LLC raised its position in shares of Shopify by 32.6% during the 2nd quarter. Avior Wealth Management LLC now owns 13,609 shares of the software maker's stock valued at $1,570,000 after buying an additional 3,347 shares in the last quarter. Integrity Alliance LLC. purchased a new stake in shares of Shopify during the 1st quarter valued at $211,000. Jacobs & Co. CA bought a new stake in shares of Shopify during the 2nd quarter worth $285,000. Finally, Focus Partners Wealth grew its position in Shopify by 7.4% in the first quarter. Focus Partners Wealth now owns 288,722 shares of the software maker's stock worth $27,567,000 after acquiring an additional 19,908 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company's stock.
Wall Street Analyst Weigh In
SHOP has been the topic of a number of research reports. Bank of America raised their price target on Shopify from $110.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. UBS Group raised their price objective on Shopify from $110.00 to $145.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. DA Davidson upped their target price on Shopify from $125.00 to $185.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Phillip Securities cut shares of Shopify from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, August 12th. Finally, Oppenheimer restated an "outperform" rating and issued a $149.00 price objective on shares of Shopify in a report on Tuesday. Twenty-three equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $150.83.
Read Our Latest Stock Report on SHOP
Shopify Trading Up 1.2%
Shopify stock opened at $151.30 on Friday. The firm has a market cap of $196.64 billion, a P/E ratio of 84.53, a P/E/G ratio of 7.09 and a beta of 2.72. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $159.01. The firm has a 50-day moving average of $142.04 and a 200-day moving average of $116.66.
Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the company posted $0.26 EPS. Shopify's quarterly revenue was up 31.1% compared to the same quarter last year. Research analysts forecast that Shopify Inc. will post 1.12 earnings per share for the current fiscal year.
Shopify Company Profile
(
Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Shopify, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shopify wasn't on the list.
While Shopify currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
