Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective boosted by Goldman Sachs Group from $786.00 to $1,127.00 in a report released on Monday morning, Briefing.com Automated Import reports. They currently have a neutral rating on the software maker’s stock.
SHOP has been the subject of several other research reports. Barclays boosted their target price on shares of Shopify from $410.00 to $725.00 and gave the company an equal weight rating in a research note on Thursday, May 7th. Mizuho boosted their target price on shares of Shopify from $350.00 to $600.00 and gave the company a neutral rating in a research note on Thursday, May 7th. They noted that the move was a valuation call. Oppenheimer started coverage on shares of Shopify in a research note on Wednesday, May 6th. They issued a hold rating for the company. Roth Capital reissued a hold rating and issued a $625.00 target price (up previously from $320.00) on shares of Shopify in a research note on Wednesday, May 6th. Finally, Credit Suisse Group reissued a neutral rating on shares of Shopify in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have given a buy rating to the company’s stock. Shopify currently has a consensus rating of Hold and an average price target of $700.75.
Shopify stock opened at $1,029.97 on Monday. Shopify has a 52 week low of $282.08 and a 52 week high of $1,059.44. The company has a quick ratio of 9.45, a current ratio of 9.45 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $805.74 and its 200 day simple moving average is $556.50. The firm has a market capitalization of $120.77 billion, a PE ratio of -887.91 and a beta of 1.61.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOP. Squar Milner Financial Services LLC boosted its holdings in Shopify by 102.5% in the 1st quarter. Squar Milner Financial Services LLC now owns 81 shares of the software maker’s stock worth $33,000 after acquiring an additional 41 shares during the period. Key Financial Inc purchased a new position in shares of Shopify during the 1st quarter valued at approximately $34,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Shopify by 516.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 37 shares of the software maker’s stock valued at $35,000 after buying an additional 31 shares during the last quarter. PrairieView Partners LLC purchased a new position in shares of Shopify during the 1st quarter valued at approximately $38,000. Finally, PSI Advisors LLC purchased a new position in shares of Shopify during the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 60.27% of the company’s stock.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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