Shopify (NYSE:SHOP) Earns Hold Rating from Benchmark

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP's stock had its "hold" rating restated by analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports.

A number of other equities analysts have also issued reports on SHOP. Truist Financial boosted their target price on shares of Shopify from $65.00 to $90.00 and gave the stock a "hold" rating in a research report on Monday, February 12th. Scotiabank upped their price objective on shares of Shopify from $70.00 to $80.00 and gave the company a "sector perform" rating in a research report on Thursday, May 2nd. CIBC upped their price target on Shopify from $82.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, February 7th. Barclays lowered their price objective on Shopify from $70.00 to $68.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 14th. Finally, ATB Capital raised their target price on Shopify from $105.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 14th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $79.00.

Shopify Stock Performance

SHOP traded down $0.31 during trading on Tuesday, hitting $77.06. The stock had a trading volume of 11,324,931 shares, compared to its average volume of 9,283,911. 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 has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a 50 day simple moving average of $74.74 and a 200-day simple moving average of $73.78. The firm has a market cap of $99.14 billion, a PE ratio of 856.32 and a beta of 2.20.

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, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. Analysts expect that Shopify will post 0.59 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. grew its holdings in Shopify by 2.3% during the 4th quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker's stock worth $4,998,476,000 after acquiring an additional 1,419,749 shares during the period. Vanguard Group Inc. boosted its position in shares of Shopify by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker's stock worth $3,284,910,000 after purchasing an additional 1,242,067 shares during the last quarter. Capital World Investors grew its stake in shares of Shopify by 28.7% during the fourth quarter. Capital World Investors now owns 39,424,769 shares of the software maker's stock worth $3,071,197,000 after purchasing an additional 8,789,411 shares during the period. Capital International Investors increased its holdings in Shopify by 9.7% in the fourth quarter. Capital International Investors now owns 15,849,638 shares of the software maker's stock valued at $1,235,534,000 after purchasing an additional 1,399,562 shares during the last quarter. Finally, Norges Bank acquired a new position in Shopify in the fourth quarter valued at about $1,049,089,000. Institutional investors own 69.27% of the company's stock.

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.