Shopify (NYSE:SHOP) Upgraded to “Outperform” by BNP Paribas

Shopify (NYSE:SHOP) (TSE:SHOP) was upgraded by BNP Paribas from an “underperform” rating to an “outperform” rating in a research report issued on Thursday, FinViz reports.

Other equities research analysts have also issued reports about the stock. Robert W. Baird lifted their price target on shares of Shopify from $85.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. DA Davidson lifted their target price on Shopify from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Loop Capital dropped their target price on Shopify from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 15th. Roth Capital raised their price target on Shopify from $85.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Wedbush reissued a “neutral” rating and issued a $68.00 price objective on shares of Shopify in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $78.62.

Shopify Stock Up 0.3 %

NYSE:SHOP opened at $70.38 on Thursday. The stock has a 50-day simple moving average of $74.83 and a 200 day simple moving average of $73.00. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a market cap of $90.55 billion, a PE ratio of 782.09 and a beta of 2.20. 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 issued its quarterly earnings results 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 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%. On average, sell-side analysts expect that Shopify will post 0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of large investors have recently bought and sold shares of the company. Private Wealth Management Group LLC bought a new position in shares of Shopify in the 4th quarter valued at $26,000. SJS Investment Consulting Inc. boosted its stake in Shopify by 59.1% in 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. DSM Capital Partners LLC bought a new position in Shopify in the fourth quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new position in Shopify during the fourth quarter worth about $28,000. Finally, Your Advocates Ltd. LLP lifted its holdings in shares of Shopify by 4,344.4% in the fourth quarter. Your Advocates Ltd. LLP now owns 400 shares of the software maker’s stock worth $31,000 after acquiring an additional 391 shares during the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.