Shopify's (SHOP) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated Shopify's stock rating as "Hold (C)", with the current average target price set at $151.95.
• Shopify's recent quarterly earnings exceeded expectations, reporting $0.35 earnings per share and $2.68 billion in revenue, marking a year-over-year growth of 31.1%.
• Research analysts' ratings show a consensus of 22 Buy, 23 Hold, and 1 Sell ratings for Shopify stock.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP's stock had its "hold (c)" rating reissued by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently commented on SHOP. JPMorgan Chase & Co. boosted their price target on Shopify from $115.00 to $179.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. TD Cowen reissued a "hold" rating and issued a $156.00 price target on shares of Shopify in a report on Friday, October 3rd. Arete reissued a "neutral" rating on shares of Shopify in a report on Wednesday, July 23rd. TD Securities boosted their price target on Shopify from $130.00 to $156.00 and gave the stock a "hold" rating in a report on Friday, October 3rd. Finally, Royal Bank Of Canada boosted their price target on Shopify from $145.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Twenty-two research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $151.95.

Shopify Price Performance

Shares of NASDAQ:SHOP opened at $166.43 on Wednesday. Shopify has a 1-year low of $69.84 and a 1-year high of $169.69. The business has a fifty day moving average price of $145.13 and a 200-day moving average price of $118.40. The company has a market capitalization of $216.30 billion, a PE ratio of 92.98, a PEG ratio of 7.55 and a beta of 2.72.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The firm had revenue of $2.68 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the company earned $0.26 earnings per share. The company's revenue was up 31.1% on a year-over-year basis. On average, sell-side analysts anticipate that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of large investors have recently added to or reduced their stakes in SHOP. Brighton Jones LLC increased its stake in Shopify by 2.8% in the 4th quarter. Brighton Jones LLC now owns 21,176 shares of the software maker's stock worth $2,252,000 after acquiring an additional 584 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Shopify by 7.6% during the 1st quarter. Farther Finance Advisors LLC now owns 13,864 shares of the software maker's stock valued at $1,354,000 after purchasing an additional 977 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Shopify by 80.0% during the 1st quarter. GAMMA Investing LLC now owns 963 shares of the software maker's stock valued at $92,000 after purchasing an additional 428 shares during the last quarter. Accurate Wealth Management LLC increased its position in shares of Shopify by 4.0% during the 1st quarter. Accurate Wealth Management LLC now owns 3,408 shares of the software maker's stock valued at $325,000 after purchasing an additional 131 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its position in shares of Shopify by 36.4% during the 1st quarter. Integrated Advisors Network LLC now owns 15,425 shares of the software maker's stock valued at $1,473,000 after purchasing an additional 4,117 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

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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