Shopify (NYSE:SHOP) Stock Price Up 0%

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) traded up 0% during trading on Thursday . The company traded as high as $79.20 and last traded at $78.64. 1,032,397 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 9,751,832 shares. The stock had previously closed at $78.62.

Wall Street Analyst Weigh In

SHOP has been the subject of several research reports. Atb Cap Markets lowered shares of Shopify from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, December 6th. Piper Sandler lifted their price target on shares of Shopify from $56.00 to $63.00 and gave the stock an “underweight” rating in a research note on Wednesday, February 14th. Jefferies Financial Group increased their target price on shares of Shopify from $65.00 to $80.00 and gave the company a “hold” rating in a report on Friday, January 5th. Stifel Nicolaus boosted their price target on shares of Shopify from $65.00 to $75.00 in a research note on Wednesday, December 6th. Finally, Mizuho raised their price objective on Shopify from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $76.42.

Shopify Stock Performance

The company has a market cap of $99.27 billion, a P/E ratio of 873.87 and a beta of 2.22. 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 business has a 50-day moving average of $79.36 and a two-hundred day moving average of $69.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 13th. The software maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $2.07 billion. On average, sell-side analysts predict that Shopify Inc. will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several institutional investors and hedge funds have recently made changes to their positions in SHOP. Baillie Gifford & Co. raised its holdings 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 purchasing an additional 1,419,749 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Shopify by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 42,168,291 shares of the software maker’s stock worth $3,284,910,000 after buying an additional 1,242,067 shares during the last quarter. Capital World Investors raised its position in shares of Shopify by 28.7% during the 4th quarter. Capital World Investors now owns 39,424,769 shares of the software maker’s stock valued at $3,071,197,000 after buying an additional 8,789,411 shares during the period. Capital International Investors increased its position in shares of Shopify by 9.7% during the 4th quarter. Capital International Investors now owns 15,849,638 shares of the software maker’s stock worth $1,235,534,000 after purchasing an additional 1,399,562 shares during the last quarter. Finally, Norges Bank acquired a new position in Shopify during the fourth quarter worth $1,049,089,000. 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.