Shopify (NYSE:SHOP) Price Target Lowered to $80.00 at Loop Capital

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP had its price objective reduced by equities researchers at Loop Capital from $90.00 to $80.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "hold" rating on the software maker's stock. Loop Capital's target price would suggest a potential upside of 16.70% from the stock's previous close.

A number of other analysts have also weighed in on the company. StockNews.com upgraded Shopify from a "sell" rating to a "hold" rating in a research note on Saturday, January 27th. Jefferies Financial Group lifted their price objective on shares of Shopify from $65.00 to $80.00 and gave the company a "hold" rating in a report on Friday, January 5th. National Bankshares upped their target price on shares of Shopify from $80.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, January 26th. Wedbush reaffirmed a "neutral" rating and set a $68.00 price target on shares of Shopify in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $100.00 price objective on shares of Shopify in a research note on Wednesday, February 14th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Shopify currently has a consensus rating of "Hold" and a consensus price target of $78.00.

Shopify Trading Down 2.1 %

Shares of NYSE SHOP traded down $1.45 during trading hours on Monday, hitting $68.55. 8,728,943 shares of the company traded hands, compared to its average volume of 9,547,109. The company's 50 day moving average price is $77.97 and its 200 day moving average price is $71.56. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The stock has a market capitalization of $88.19 billion, a price-to-earnings ratio of 770.22 and a beta of 2.22. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.07 billion. On average, equities research analysts anticipate that Shopify will post 0.57 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Large investors have recently added to or reduced their stakes in the company. StoneCrest Wealth Management Inc. purchased a new stake in Shopify in the fourth quarter valued at approximately $1,164,000. Asset Management One Co. Ltd. boosted its holdings in shares of Shopify by 4,007.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 35,488 shares of the software maker's stock valued at $2,807,000 after acquiring an additional 34,624 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in shares of Shopify in the fourth quarter worth $433,000. Advisor Resource Council purchased a new position in shares of Shopify during the fourth quarter worth $1,488,000. Finally, Bleakley Financial Group LLC lifted its position in Shopify by 18.5% during the fourth quarter. Bleakley Financial Group LLC now owns 10,778 shares of the software maker's stock valued at $840,000 after purchasing an additional 1,681 shares during the period. Hedge funds and other institutional investors own 69.27% of the company's stock.

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.