Needham & Company LLC Reiterates Hold Rating for Shopify (NYSE:SHOP)

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP's stock had its "hold" rating reiterated by equities researchers at Needham & Company LLC in a report issued on Tuesday, Benzinga reports.

SHOP has been the subject of a number of other research reports. Loop Capital dropped their price objective on Shopify from $90.00 to $80.00 and set a "hold" rating for the company in a report on Monday. Royal Bank of Canada restated an "outperform" rating and issued a $100.00 price target on shares of Shopify in a report on Wednesday, February 14th. JMP Securities restated a "market perform" rating on shares of Shopify in a report on Monday, December 18th. Mizuho increased their price target on Shopify from $65.00 to $75.00 and gave the stock a "neutral" rating in a report on Wednesday, February 14th. Finally, National Bankshares increased their price target on Shopify from $80.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, January 26th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $78.00.

Shopify Trading Up 0.2 %

Shares of SHOP stock traded up $0.12 on Tuesday, reaching $68.69. 9,246,147 shares of the stock were exchanged, compared to its average volume of 9,542,904. The stock has a market cap of $88.37 billion, a PE ratio of 763.31 and a beta of 2.22. Shopify has a one year low of $45.50 and a one year high of $91.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The stock has a 50 day moving average price of $77.45 and a 200 day moving average price of $71.76.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last released its 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. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Equities research analysts forecast that Shopify will post 0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SHOP. Private Wealth Management Group LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. boosted its stake in Shopify by 59.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker's stock valued at $27,000 after purchasing an additional 130 shares during the period. PCA Investment Advisory Services Inc. bought a new stake in Shopify in the 2nd quarter valued at $27,000. DSM Capital Partners LLC bought a new stake in Shopify in the 4th quarter valued at $28,000. Finally, Jones Financial Companies Lllp bought a new stake in Shopify in the 4th quarter valued at $28,000. 69.27% of the stock is currently owned by institutional investors.

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.