Shopify (NYSE:SHOP) Stock Rating Reaffirmed by JMP Securities

Shopify (NYSE:SHOP) (TSE:SHOP)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $80.00 price objective on the software maker’s stock. JMP Securities’ target price points to a potential upside of 18.29% from the stock’s previous close.

SHOP has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft upped their price target on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. UBS Group boosted their target price on Shopify from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Roth Mkm increased their price target on Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. KeyCorp started coverage on shares of Shopify in a report on Thursday, July 25th. They issued an “overweight” rating and a $80.00 target price for the company. Finally, Morgan Stanley raised their target price on Shopify from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.11.

Shopify Stock Performance

Shares of SHOP traded down $0.50 during mid-day trading on Tuesday, reaching $67.63. 2,156,161 shares of the company’s stock traded hands, compared to its average volume of 9,889,421. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. The business’s 50-day moving average price is $67.06 and its 200-day moving average price is $68.46. The stock has a market capitalization of $87.15 billion, a P/E ratio of -397.12, a price-to-earnings-growth ratio of 2.25 and a beta of 2.35. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. Shopify had a net margin of 16.40% and a return on equity of 10.88%. Shopify’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. Equities analysts predict that Shopify will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Wealth Management Group LLC bought a new stake in shares of Shopify in the 4th quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of Shopify by 100.0% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the period. DSM Capital Partners LLC bought a new stake in Shopify in the 4th quarter valued at $28,000. Jones Financial Companies Lllp acquired a new position in Shopify in the 4th quarter worth $28,000. Finally, Cultivar Capital Inc. acquired a new stake in shares of Shopify in the 2nd quarter valued at about $33,000. 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.