Shopify (NYSE:SHOP) Trading Up 0.4%

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price was up 0.4% during trading on Tuesday . The stock traded as high as $79.14 and last traded at $78.76. Approximately 1,056,043 shares traded hands during trading, a decline of 89% from the average daily volume of 9,932,875 shares. The stock had previously closed at $78.42.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SHOP shares. Mizuho upped their price target on shares of Shopify from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. DA Davidson upped their price objective on shares of Shopify from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Wells Fargo & Company reduced their price objective on shares of Shopify from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Truist Financial upped their price objective on shares of Shopify from $65.00 to $90.00 and gave the stock a “hold” rating in a report on Monday, February 12th. Finally, Atb Cap Markets downgraded shares of Shopify from an “outperform” rating to a “sector perform” rating in a report on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $76.42.

Shopify Stock Up 0.1 %

The business has a fifty day moving average of $79.36 and a 200 day moving average of $69.98. The stock has a market cap of $101.15 billion, a price-to-earnings ratio of 873.65 and a beta of 2.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, February 13th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that Shopify Inc. will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

A number of large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its position in Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after purchasing an additional 1,419,749 shares during the period. Vanguard Group Inc. boosted its position in shares of Shopify by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock valued at $3,284,910,000 after acquiring an additional 1,242,067 shares during the period. Capital World Investors boosted its position in shares of Shopify by 28.7% in the fourth quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock valued at $3,071,197,000 after acquiring an additional 8,789,411 shares during the period. Capital International Investors boosted its position in shares of Shopify by 9.7% in the fourth quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock valued at $1,235,534,000 after acquiring an additional 1,399,562 shares during the period. Finally, Norges Bank bought a new stake in shares of Shopify in the fourth quarter valued at approximately $1,049,089,000. Institutional investors 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.