Shopify Inc. (NYSE:SHOP) Given Average Recommendation of "Moderate Buy" by Analysts

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP has been assigned a consensus rating of "Moderate Buy" from the forty-three research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $115.37.

A number of brokerages recently issued reports on SHOP. BNP Paribas downgraded Shopify from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 5th. CIBC raised their price objective on Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research note on Wednesday, February 12th. Wedbush reissued an "outperform" rating and issued a $110.00 target price on shares of Shopify in a research note on Tuesday, April 15th. TD Securities raised their target price on Shopify from $100.00 to $130.00 and gave the stock a "hold" rating in a research note on Wednesday, February 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Shopify from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th.

Institutional Investors Weigh In On Shopify

A number of hedge funds have recently modified their holdings of the business. Public Sector Pension Investment Board grew its position in shares of Shopify by 0.9% during the 1st quarter. Public Sector Pension Investment Board now owns 117,345 shares of the software maker's stock valued at $11,162,000 after acquiring an additional 1,000 shares during the period. AIA Group Ltd lifted its stake in shares of Shopify by 0.9% during the 1st quarter. AIA Group Ltd now owns 169,884 shares of the software maker's stock valued at $16,221,000 after buying an additional 1,562 shares in the last quarter. SouthState Corp lifted its stake in shares of Shopify by 8.1% during the 1st quarter. SouthState Corp now owns 2,669 shares of the software maker's stock valued at $255,000 after buying an additional 199 shares in the last quarter. Nuveen LLC purchased a new position in shares of Shopify during the 1st quarter valued at $667,392,000. Finally, Aigen Investment Management LP lifted its stake in shares of Shopify by 92.2% during the 1st quarter. Aigen Investment Management LP now owns 5,404 shares of the software maker's stock valued at $516,000 after buying an additional 2,593 shares in the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify Price Performance

NYSE:SHOP opened at $104.34 on Tuesday. The company has a market cap of $135.10 billion, a P/E ratio of 67.32, a P/E/G ratio of 4.82 and a beta of 2.66. The stock's fifty day moving average price is $93.25 and its two-hundred day moving average price is $103.23. Shopify has a 1 year low of $48.56 and a 1 year high of $129.38.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. On average, analysts expect that Shopify will post 1.12 earnings per share for the current fiscal year.

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.

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