According to Zacks, “Shopify provides a multi-tenant, cloud-based, multi-channel commerce platform for SMBs. The company is benefiting from a diversified expanding merchant base. It continues to launch a number of merchant-friendly applications to meet the requirements of a dynamic retail environment, consequently bolstering its merchant base. Moreover, the company is benefiting from retail’s rapid transition to mobile andsocial sales channels. Shares of Shopify have outperformed the industry in the past year. Nonetheless, increasing investments on product development, infrastructure and platform are likely to limit margin expansion in the near-term. Further, lack of significant presence in the Asia-Pacific market, which is the fastest growing retaile Commerce market, is a headwind for Shopify.”
Several other equities analysts have also recently weighed in on the stock. Macquarie raised their price target on shares of Shopify to $230.00 and gave the company an outperform rating in a research report on Wednesday, March 27th. Wedbush raised their price target on shares of Shopify from $177.00 to $200.00 and gave the company an outperform rating in a research report on Monday, February 11th. DA Davidson raised shares of Shopify from a neutral rating to a buy rating and set a $150.00 price target on the stock in a research report on Friday, December 21st. Morgan Stanley raised their price target on shares of Shopify from $158.00 to $173.00 and gave the company an equal weight rating in a research report on Wednesday, February 13th. Finally, Raymond James raised their price target on shares of Shopify from $155.00 to $180.00 and gave the company an outperform rating in a research report on Wednesday, February 13th. Six analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $191.00.
Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 12th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.32. The company had revenue of $344.00 million for the quarter, compared to analysts’ expectations of $327.45 million. Shopify had a negative net margin of 6.01% and a negative return on equity of 3.52%. The business’s revenue was up 54.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS. As a group, sell-side analysts expect that Shopify will post -0.99 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of SHOP. Capital Financial Planning LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $26,000. We Are One Seven LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $27,000. Murphy Pohlad Asset Management LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $27,000. Mackey Komara & Dankovich LLC purchased a new stake in shares of Shopify during the 4th quarter worth approximately $28,000. Finally, Optimum Investment Advisors purchased a new stake in shares of Shopify during the 4th quarter worth approximately $28,000. 64.95% of the stock is currently owned by hedge funds and other institutional investors.
Shopify Company Profile
Shopify Inc provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in the United States, the United Kingdom, Canada, Australia, and internationally. Its platform provides merchants with a single view of business and customers in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables to manage products and inventory, process orders and payments, ship orders, build customer relationships, leverage analytics and reporting, and access financing.
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