Shopify (NYSE:SHOP) Shares Gap Up to $69.51

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price gapped up prior to trading on Friday . The stock had previously closed at $69.51, but opened at $71.00. Shopify shares last traded at $70.92, with a volume of 1,773,956 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Loop Capital lowered their target price on shares of Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a report on Monday. UBS Group lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. DA Davidson lifted their price objective on shares of Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of Shopify in a report on Wednesday, February 14th. Finally, ATB Capital lifted their price objective on shares of Shopify from $105.00 to $110.00 and gave the company a “sector perform” rating in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $78.30.

Shopify Stock Up 2.1 %

The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $91.30 billion, a price-to-earnings ratio of 772.42 and a beta of 2.22. The business’s 50-day moving average is $76.77 and its two-hundred day moving average is $71.73.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, beating 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 net margin of 1.87% and a return on equity of 4.48%. Equities analysts anticipate that Shopify Inc. will post 0.58 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SHOP. Industrial Alliance Investment Management Inc. raised its position in Shopify by 292.9% in 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 last quarter. Turim 21 Investimentos Ltda. purchased a new stake in Shopify in the 1st quarter valued at $148,000. Fairfield Bush & CO. purchased a new stake in Shopify in the 1st quarter valued at $169,000. First Manhattan Co. raised its position in Shopify by 317.5% in the 1st quarter. First Manhattan Co. now owns 263 shares of the software maker’s stock valued at $177,000 after purchasing an additional 200 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC raised its position in Shopify by 508.2% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 298 shares of the software maker’s stock valued at $201,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds 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.