Press coverage about Shopify (NYSE:SHOP) (TSE:SHOP) has been trending negative on Sunday, InfoTrie Sentiment reports. The research group rates the sentiment of media coverage by analyzing more than six thousand news and blog sources in real time. The firm ranks coverage of companies on a scale of negative five to positive five, with scores nearest to five being the most favorable. Shopify earned a coverage optimism score of -2.63 on their scale. InfoTrie also assigned media headlines about the software maker an news buzz score of 2 out of 10, indicating that recent media coverage is very unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news headlines that may have effected Shopify’s analysis:
- Shopify helped earn the founder of Ring $1 billion. Here’s how you can follow that gameplan – The Next Web (thenextweb.com)
- How knowledge platform Guru is helping Shopify embrace remote working – Diginomica (diginomica.com)
- Shopify (NYSE:SHOP) Receiving Critical News Coverage, InfoTrie Reports (americanbankingnews.com)
- Shopify to launch banking services this year for merchants – Banking Dive (bankingdive.com)
- Work From Home Forever? Big Tech Is Divided on That (finance.yahoo.com)
NYSE:SHOP opened at $825.17 on Friday. The company has a fifty day simple moving average of $595.63 and a two-hundred day simple moving average of $456.64. The company has a market cap of $94.09 billion, a price-to-earnings ratio of -711.35 and a beta of 1.51. The company has a quick ratio of 9.45, a current ratio of 9.45 and a debt-to-equity ratio of 0.04. Shopify has a 52 week low of $262.17 and a 52 week high of $826.38.
A number of research firms have weighed in on SHOP. Jefferies Financial Group raised their target price on shares of Shopify from $400.00 to $725.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Wedbush raised their target price on shares of Shopify from $445.00 to $550.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. National Bank Financial raised their target price on shares of Shopify from $800.00 to $850.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Credit Suisse Group reissued a “neutral” rating on shares of Shopify in a research note on Thursday. Finally, DA Davidson reissued a “hold” rating and issued a $650.00 target price on shares of Shopify in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $620.22.
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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