Shopify (NYSE:SHOP) Trading 0% Higher

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP traded up 0% on Thursday . The company traded as high as $79.20 and last traded at $78.64. 1,032,397 shares traded hands during trading, a decline of 89% from the average session volume of 9,751,832 shares. The stock had previously closed at $78.62.

Analyst Ratings Changes

SHOP has been the topic of several recent research reports. Canaccord Genuity Group increased their price objective on Shopify from $70.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, December 6th. Wells Fargo & Company cut their price objective on shares of Shopify from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. CIBC lifted their target price on shares of Shopify from $82.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. DZ Bank reaffirmed a "sell" rating and set a $65.00 price objective on shares of Shopify in a research note on Tuesday, December 12th. Finally, National Bankshares boosted their target price on Shopify from $80.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Shopify presently has an average rating of "Hold" and an average target price of $76.42.

Shopify Stock Performance

The firm has a market capitalization of $99.27 billion, a PE ratio of 857.43 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. The firm's fifty day moving average price is $79.33 and its 200 day moving average price is $70.04.

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

Hedge Funds Weigh In On Shopify

Several large investors have recently bought and sold shares of SHOP. Snowden Capital Advisors LLC increased its holdings in Shopify by 7.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 30,211 shares of the software maker's stock valued at $1,952,000 after buying an additional 2,180 shares during the period. Advisor Resource Council bought a new stake in shares of Shopify in the 4th quarter valued at approximately $1,488,000. IFP Advisors Inc raised its holdings in shares of Shopify by 244.8% in the 4th quarter. IFP Advisors Inc now owns 28,384 shares of the software maker's stock worth $2,211,000 after buying an additional 20,152 shares in the last quarter. Angeles Investment Advisors LLC acquired a new stake in Shopify in the 3rd quarter valued at $427,000. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new stake in Shopify in the third quarter valued at $15,170,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.