Integrity Alliance LLC. Makes New $211,000 Investment in Shopify Inc. $SHOP

Key Points

• Integrity Alliance LLC has made a new investment in Shopify Inc., acquiring 2,213 shares valued at approximately $211,000 during the first quarter.
• Shopify reported a quarterly earnings of $0.35 per share, surpassing the consensus estimate of $0.29, with revenues reaching $2.68 billion.
• Several major analysts have upgraded their price targets for Shopify, with Bank of America raising it from $110 to $185 and Goldman Sachs from $120 to $176.

Integrity Alliance LLC. purchased a new position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,213 shares of the software maker's stock, valued at approximately $211,000.

A number of other large investors have also bought and sold shares of SHOP. Quadcap Wealth Management LLC grew its position in shares of Shopify by 0.9% in the 1st quarter. Quadcap Wealth Management LLC now owns 11,133 shares of the software maker's stock worth $1,063,000 after buying an additional 103 shares during the last quarter. Fullcircle Wealth LLC grew its position in shares of Shopify by 2.7% in the 1st quarter. Fullcircle Wealth LLC now owns 4,240 shares of the software maker's stock worth $418,000 after buying an additional 110 shares during the last quarter. Avidian Wealth Enterprises LLC grew its position in shares of Shopify by 3.4% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 3,533 shares of the software maker's stock worth $337,000 after buying an additional 116 shares during the last quarter. SVB Wealth LLC grew its position in shares of Shopify by 2.2% in the 1st quarter. SVB Wealth LLC now owns 5,415 shares of the software maker's stock worth $517,000 after buying an additional 119 shares during the last quarter. Finally, Pinnacle Financial Partners Inc grew its position in shares of Shopify by 4.0% in the 1st quarter. Pinnacle Financial Partners Inc now owns 3,233 shares of the software maker's stock worth $320,000 after buying an additional 125 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Price Performance

SHOP stock opened at $143.38 on Monday. Shopify Inc. has a 1-year low of $69.84 and a 1-year high of $156.85. The business has a fifty day moving average price of $133.77 and a 200-day moving average price of $112.04. The stock has a market capitalization of $186.35 billion, a P/E ratio of 80.10, a P/E/G ratio of 6.79 and a beta of 2.69.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion during the quarter, compared to analysts' expectations of $2.55 billion. During the same quarter in the previous year, the business earned $0.26 earnings per share. The company's revenue was up 31.1% on a year-over-year basis. As a group, analysts anticipate that Shopify Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America lifted their price objective on Shopify from $110.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. The Goldman Sachs Group lifted their price objective on Shopify from $120.00 to $176.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Needham & Company LLC assumed coverage on Shopify in a research report on Monday, July 14th. They issued a "buy" rating and a $135.00 price objective on the stock. Oppenheimer lifted their price objective on Shopify from $145.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Benchmark restated a "buy" rating and set a $140.00 price target (up from $125.00) on shares of Shopify in a research report on Tuesday, August 5th. Twenty-four equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.27.

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.

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