Shopify (NYSE:SHOP) Given Hold Rating at Benchmark

Benchmark restated their hold rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research report report published on Tuesday, Benzinga reports.

A number of other research analysts also recently issued reports on SHOP. Loop Capital decreased their price target on Shopify from $90.00 to $80.00 and set a hold rating for the company in a report on Monday, April 15th. Citigroup upgraded Shopify from a neutral rating to a buy rating and boosted their price objective for the company from $93.00 to $105.00 in a research report on Monday, April 29th. ATB Capital increased their target price on Shopify from $105.00 to $110.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. Wells Fargo & Company dropped their price target on shares of Shopify from $90.00 to $85.00 and set an overweight rating on the stock in a research note on Wednesday, February 14th. Finally, UBS Group upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $79.00.

Shopify Trading Down 0.4 %

SHOP opened at $77.06 on Tuesday. The firm has a market cap of $99.14 billion, a price-to-earnings ratio of 856.32 and a beta of 2.20. The stock has a fifty day moving average price of $74.74 and a 200-day moving average price of $73.78. Shopify has a 12 month low of $45.50 and a 12 month high of $91.57. The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its 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. Shopify had a return on equity of 4.48% and a net margin of 1.87%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.07 billion. As a group, equities research analysts anticipate that Shopify will post 0.59 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of hedge funds and other institutional investors have recently bought and sold shares of SHOP. Norges Bank purchased a new stake in Shopify in the fourth quarter valued at approximately $1,049,089,000. Capital World Investors grew its position in Shopify by 28.7% during the 4th quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock worth $3,071,197,000 after purchasing an additional 8,789,411 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Shopify by 78.4% in the third quarter. Artisan Partners Limited Partnership now owns 4,809,633 shares of the software maker’s stock valued at $262,462,000 after purchasing an additional 2,113,773 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Shopify by 118.9% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,382,000 shares of the software maker’s stock valued at $263,452,000 after buying an additional 1,837,000 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in shares of Shopify by 2.3% during the fourth quarter. Baillie Gifford & Co. now owns 64,164,758 shares of the software maker’s stock worth $4,998,476,000 after buying an additional 1,419,749 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.