Shopify (NYSE:SHOP) Trading 0% Higher

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) rose 0% during trading on Thursday . The company traded as high as $79.20 and last traded at $78.64. Approximately 1,032,397 shares were traded during trading, a decline of 89% from the average daily volume of 9,751,832 shares. The stock had previously closed at $78.62.

Wall Street Analyst Weigh In

SHOP has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of Shopify in a research report on Wednesday, February 14th. The Goldman Sachs Group increased their target price on Shopify from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. DA Davidson raised their price target on Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. ATB Capital lifted their target price on Shopify from $105.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Finally, Barclays decreased their price objective on shares of Shopify from $70.00 to $68.00 and set an “equal weight” rating for the company in a report on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Shopify has a consensus rating of “Hold” and an average target price of $76.42.

Shopify Stock Down 1.9 %

The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The firm has a market cap of $99.27 billion, a PE ratio of 873.87 and a beta of 2.22. The business has a fifty day moving average price of $79.36 and a two-hundred day moving average price of $69.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. On average, analysts anticipate that Shopify Inc. will post 0.57 EPS for the current fiscal year.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vident Investment Advisory LLC lifted its position in shares of Shopify by 5.3% in the first quarter. Vident Investment Advisory LLC now owns 661 shares of the software maker’s stock worth $447,000 after buying an additional 33 shares during the last quarter. Interchange Capital Partners LLC lifted its position in shares of Shopify by 7.1% during the 1st quarter. Interchange Capital Partners LLC now owns 511 shares of the software maker’s stock worth $345,000 after purchasing an additional 34 shares during the last quarter. Ancora Advisors LLC lifted its position in shares of Shopify by 6.2% during the 1st quarter. Ancora Advisors LLC now owns 1,177 shares of the software maker’s stock worth $1,302,000 after purchasing an additional 69 shares during the last quarter. SVB Wealth LLC lifted its position in shares of Shopify by 14.0% during the 1st quarter. SVB Wealth LLC now owns 659 shares of the software maker’s stock worth $445,000 after purchasing an additional 81 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of Shopify by 292.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 110 shares of the software maker’s stock worth $74,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

About Shopify

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.