Shopify Inc., a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, 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. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.
Analysts Set New Price Targets
Several research analysts have recently issued reports on SHOP shares. Atlantic Securities upgraded shares of Shopify from a "neutral" rating to an "overweight" rating and set a $46.00 price objective on the stock in a report on Thursday, August 11th. TheStreet downgraded shares of Shopify from a "c" rating to a "d+" rating in a report on Tuesday, May 24th. Citigroup dropped their price objective on shares of Shopify from $43.20 to $37.00 in a report on Tuesday, July 26th. Veritas Investment Research cut shares of Shopify from a "buy" rating to a "sell" rating in a research note on Thursday, May 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Shopify from $90.00 to $55.00 in a research note on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Shopify has an average rating of "Hold" and a consensus price target of $72.49.
Shopify Stock Down 2.5 %
Shares of NYSE:SHOP traded down $0.98 during trading on Tuesday, hitting $38.86. The stock had a trading volume of 216,001 shares, compared to its average volume of 37,021,920. Shopify has a 12 month low of $29.72 and a 12 month high of $176.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 11.17 and a quick ratio of 11.17. The company has a market capitalization of $48.92 billion, a PE ratio of -26.30 and a beta of 1.80. The firm has a fifty day moving average of $41.68 and a two-hundred day moving average of $52.59.