Credit Suisse Group Raises Shopify (SHOP) Price Target to $275.00

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Shopify (NYSE:SHOP) (TSE:SHOP) had its target price lifted by equities research analysts at Credit Suisse Group from $190.00 to $275.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the software maker’s stock. Credit Suisse Group’s price target points to a potential upside of 7.62% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Roth Capital raised their target price on shares of Shopify from $275.00 to $225.00 in a research note on Tuesday. Robert W. Baird raised their target price on shares of Shopify from $208.00 to $269.00 and gave the company an “outperform” rating in a research note on Tuesday. Macquarie raised their target price on shares of Shopify to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th. Piper Jaffray Companies raised their target price on shares of Shopify from $149.00 to $216.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Canaccord Genuity raised their target price on shares of Shopify from $190.00 to $270.00 and gave the company a “buy” rating in a research note on Wednesday. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Shopify presently has an average rating of “Buy” and an average price target of $236.00.

SHOP opened at $255.54 on Wednesday. The firm has a market cap of $26.88 billion, a P/E ratio of -418.92 and a beta of 1.57. Shopify has a fifty-two week low of $117.64 and a fifty-two week high of $260.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 15.35 and a quick ratio of 15.35.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, April 30th. The software maker reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.44. The company had revenue of $320.50 million during the quarter, compared to analysts’ expectations of $310.11 million. Shopify had a negative net margin of 6.17% and a negative return on equity of 3.90%. Shopify’s quarterly revenue was up 49.6% on a year-over-year basis. During the same period last year, the company posted $0.04 earnings per share. As a group, research analysts predict that Shopify will post -1 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC lifted its position in Shopify by 328.1% during the first quarter. Valeo Financial Advisors LLC now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 105 shares during the last quarter. Sound Income Strategies LLC lifted its position in Shopify by 8,100.0% during the first quarter. Sound Income Strategies LLC now owns 164 shares of the software maker’s stock valued at $34,000 after purchasing an additional 162 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new position in Shopify during the first quarter valued at $35,000. Executive Wealth Management LLC lifted its position in Shopify by 34.6% during the first quarter. Executive Wealth Management LLC now owns 175 shares of the software maker’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its position in Shopify by 70.6% during the first quarter. TCI Wealth Advisors Inc. now owns 186 shares of the software maker’s stock valued at $38,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 64.96% of the company’s stock.

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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