Shopify (NYSE:SHOP) Given New $72.00 Price Target at TD Securities

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lowered by equities researchers at TD Securities from $80.00 to $72.00 in a report issued on Thursday, MarketBeat.com reports. The brokerage currently has a “hold” rating on the software maker’s stock. TD Securities’ price objective indicates a potential upside of 15.31% from the company’s previous close.

Other research analysts have also issued research reports about the company. Scotiabank lifted their target price on Shopify from $70.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, May 2nd. Barclays cut their price objective on Shopify from $68.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday. Benchmark reissued a “hold” rating on shares of Shopify in a report on Tuesday. Loop Capital cut their price objective on Shopify from $90.00 to $80.00 and set a “hold” rating for the company in a report on Monday, April 15th. Finally, BNP Paribas raised Shopify from an “underperform” rating to an “outperform” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.67.

Shopify Price Performance

SHOP stock traded down $0.29 during mid-day trading on Thursday, reaching $62.44. 16,810,551 shares of the company traded hands, compared to its average volume of 9,905,413. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.99 and a quick ratio of 6.99. The company has a market capitalization of $80.33 billion, a P/E ratio of 693.78 and a beta of 2.20. Shopify has a 52-week low of $45.50 and a 52-week high of $91.57. The company has a fifty day moving average price of $74.74 and a 200-day moving average price of $73.78.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results 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 business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.07 billion. Shopify had a return on equity of 4.48% and a net margin of 1.87%. As a group, analysts anticipate that Shopify will post 0.59 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new stake in shares of Shopify in the fourth quarter worth $26,000. SJS Investment Consulting Inc. grew its stake in shares of Shopify by 59.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 350 shares of the software maker’s stock worth $27,000 after acquiring an additional 130 shares during the last quarter. DSM Capital Partners LLC purchased a new stake in shares of Shopify in the fourth quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Shopify in the fourth quarter worth $28,000. Finally, Your Advocates Ltd. LLP grew its stake 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 owned by hedge funds and other institutional investors.

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.