Shopify (NYSE:SHOP) Price Target Cut to $80.00 by Analysts at Loop Capital

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price lowered by Loop Capital from $90.00 to $80.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the software maker’s stock.

SHOP has been the topic of several other reports. Citigroup decreased their price objective on shares of Shopify from $96.00 to $93.00 and set a neutral rating on the stock in a research report on Wednesday, February 14th. UBS Group increased their price target on shares of Shopify from $75.00 to $80.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. The Goldman Sachs Group increased their price target on shares of Shopify from $67.00 to $75.00 and gave the company a neutral rating in a research report on Thursday, February 29th. CIBC increased their price target on shares of Shopify from $82.00 to $100.00 and gave the company an outperform rating in a research report on Wednesday, February 7th. Finally, Roth Capital increased their price target on shares of Shopify from $85.00 to $89.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Shopify has a consensus rating of Hold and an average target price of $78.00.

Shopify Trading Up 1.1 %

Shares of Shopify stock opened at $69.43 on Monday. Shopify has a 12-month low of $45.50 and a 12-month high of $91.57. The company has a market cap of $89.33 billion, a price-to-earnings ratio of 771.53 and a beta of 2.22. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $77.14 and its 200-day moving average price is $71.75.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.04. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Shopify had a net margin of 1.87% and a return on equity of 4.48%. On average, equities analysts expect that Shopify will post 0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

Several institutional investors and hedge funds have recently modified their holdings of SHOP. Vident Investment Advisory LLC grew its stake in shares of Shopify by 5.3% during the 1st quarter. Vident Investment Advisory LLC now owns 661 shares of the software maker’s stock valued at $447,000 after purchasing an additional 33 shares during the period. Interchange Capital Partners LLC grew its stake 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 valued at $345,000 after purchasing an additional 34 shares during the period. Ancora Advisors LLC grew its stake 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 valued at $1,302,000 after purchasing an additional 69 shares during the period. SVB Wealth LLC grew its stake in shares of Shopify by 14.0% during the 1st quarter. SVB Wealth LLC now owns 659 shares of the software maker’s stock valued at $445,000 after purchasing an additional 81 shares during the period. Finally, Industrial Alliance Investment Management Inc. grew its stake 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 valued at $74,000 after purchasing an additional 82 shares during the period. 69.27% of the stock is currently owned by institutional investors.

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.