Shopify (NYSE:SHOP) Given Hold Rating at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research note released on Tuesday morning, Benzinga reports.

A number of other equities analysts have also recently issued reports on the stock. CIBC lifted their target price on shares of Shopify from $82.00 to $100.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Loop Capital dropped their price objective on Shopify from $90.00 to $80.00 and set a hold rating for the company in a research report on Monday, April 15th. ATB Capital upped their price objective on shares of Shopify from $105.00 to $110.00 and gave the company a sector perform rating in a research note on Wednesday, February 14th. National Bankshares boosted their price target on Shopify from $80.00 to $100.00 and gave the company an outperform rating in a report on Friday, January 26th. Finally, Robert W. Baird lifted their price target on Shopify from $85.00 to $87.00 and gave the company an outperform rating in a report on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $78.30.

Shopify Trading Up 0.3 %

NYSE:SHOP opened at $69.70 on Tuesday. The stock has a market capitalization of $89.67 billion, a price-to-earnings ratio of 774.53 and a beta of 2.22. Shopify has a 1 year low of $45.50 and a 1 year high of $91.57. The stock has a fifty day moving average price of $76.35 and a two-hundred day moving average price of $71.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 6.99 and a current ratio of 6.99.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results 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. Shopify had a net margin of 1.87% and a return on equity of 4.48%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.07 billion. As a group, sell-side analysts anticipate that Shopify will post 0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Private Wealth Management Group LLC acquired a new stake in shares of Shopify during the fourth quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its stake in Shopify by 59.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock valued at $27,000 after buying an additional 130 shares in the last quarter. PCA Investment Advisory Services Inc. acquired a new position in shares of Shopify in the 2nd quarter worth approximately $27,000. DSM Capital Partners LLC acquired a new position in Shopify in the fourth quarter worth $28,000. Finally, Jones Financial Companies Lllp bought a new position in shares of Shopify in the 4th quarter worth about $28,000. Hedge funds and other 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.