Shopify Inc (NYSE:SHOP) (TSE:SHOP)'s share price hit a new 52-week high on Thursday after Royal Bank of Canada raised their price target on the stock from $825.00 to $1,000.00. Royal Bank of Canada currently has an outperform rating on the stock. Shopify traded as high as $850.00 and last traded at $844.41, with a volume of 593335 shares. The stock had previously closed at $817.36.
Other equities analysts have also recently issued reports about the stock. DA Davidson reiterated a "hold" rating and set a $650.00 target price on shares of Shopify in a research note on Thursday, May 21st. Roth Capital reiterated a "hold" rating and set a $625.00 target price (up from $320.00) on shares of Shopify in a research note on Wednesday, May 6th. Loop Capital upped their target price on shares of Shopify from $350.00 to $700.00 and gave the company a "hold" rating in a research note on Thursday, May 7th. ValuEngine cut shares of Shopify from a "buy" rating to a "hold" rating in a research note on Friday, May 1st. Finally, Credit Suisse Group reiterated a "neutral" rating on shares of Shopify in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have issued a buy rating to the stock. The company has an average rating of "Hold" and an average price target of $663.42.
Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP lifted its position in Shopify by 15.6% during the 1st quarter. First Trust Advisors LP now owns 3,499 shares of the software maker's stock worth $723,000 after buying an additional 472 shares in the last quarter. Clear Perspective Advisors LLC acquired a new position in Shopify during the 4th quarter worth about $200,000. State Street Corp lifted its position in Shopify by 299.3% during the 4th quarter. State Street Corp now owns 34,761 shares of the software maker's stock worth $13,820,000 after buying an additional 26,056 shares in the last quarter. Sei Investments Co. lifted its position in Shopify by 19.4% during the 4th quarter. Sei Investments Co. now owns 10,018 shares of the software maker's stock worth $3,868,000 after buying an additional 1,629 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Shopify by 13.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,304 shares of the software maker's stock valued at $2,904,000 after purchasing an additional 888 shares during the period. 60.27% of the stock is currently owned by institutional investors and hedge funds.
The company has a debt-to-equity ratio of 0.04, a quick ratio of 9.45 and a current ratio of 9.45. The company has a market capitalization of $94.49 billion, a price-to-earnings ratio of -704.62 and a beta of 1.53. The business's 50-day simple moving average is $736.51 and its 200-day simple moving average is $515.37.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Wednesday, May 6th. The software maker reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.70) by $0.89. Shopify had a negative net margin of 7.65% and a negative return on equity of 2.56%. The company had revenue of $470.00 million for the quarter, compared to the consensus estimate of $442.92 million. During the same period in the prior year, the company posted $0.09 EPS. The company's revenue was up 46.6% compared to the same quarter last year. On average, analysts forecast that Shopify Inc will post -1.63 earnings per share for the current year.
Shopify Company Profile (NYSE:SHOP)
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
Read More: Example of operating income, EBIT and EBITDA
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