Shopify Inc. (NYSE:SHOP) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Shopify Inc. has received a consensus rating of "Moderate Buy" from analysts, with 24 buy recommendations, 20 hold recommendations, and one sell recommendation.
• The average 12-month price target for Shopify shares is $148.51, with several firms raising their targets significantly, including CIBC increasing it to $185.00.
• In its latest quarterly earnings report, Shopify topped expectations with $0.35 EPS and reported a 31.1% year-over-year revenue growth to $2.68 billion.

Shares of Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP have earned a consensus rating of "Moderate Buy" from the forty-five ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twenty have given a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $148.5135.

Several research firms have weighed in on SHOP. CIBC increased their price target on shares of Shopify from $145.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Robert W. Baird increased their price target on shares of Shopify from $110.00 to $120.00 and gave the company an "outperform" rating in a report on Monday, July 14th. KeyCorp reissued an "overweight" rating and issued a $175.00 price target (up from $145.00) on shares of Shopify in a report on Thursday, August 7th. BMO Capital Markets increased their price target on shares of Shopify from $120.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $91.00 price target on shares of Shopify in a report on Wednesday, June 11th.

Shopify Trading Down 1.4%

Shares of NYSE SHOP opened at $137.29 on Thursday. The firm has a market cap of $178.12 billion, a PE ratio of 88.57, a PEG ratio of 4.82 and a beta of 2.63. Shopify has a 1-year low of $65.86 and a 1-year high of $156.85. The company has a fifty day moving average price of $123.27 and a 200 day moving average price of $109.60.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. Shopify had a net margin of 22.74% and a return on equity of 12.00%. The company had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the business posted $0.26 EPS. The company's quarterly revenue was up 31.1% on a year-over-year basis. Equities research analysts forecast that Shopify will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC bought a new stake in shares of Shopify in the second quarter worth $25,000. Financial Gravity Companies Inc. bought a new stake in shares of Shopify in the second quarter worth $27,000. Rothschild Investment LLC grew its stake in shares of Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Tradewinds Capital Management LLC grew its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker's stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in shares of Shopify in the second quarter worth $29,000. 69.27% of the stock is owned by institutional investors.

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.

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