Stocks of Shopify Inc. (NYSE:SHOP) traded higher last session on Wall Street, up 1.06% to $60.76.
According to the data, Shopify Inc. (NYSE:SHOP) has 49 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $80.00 and a low of $35.00, we find $65.00. Given the previous closing price of $60.12, this indicates a potential upside of 8.12 percent. SHOP stock price is now 24.71% away from the 50-day moving average and 52.63% away from the 200-day moving average. The market capitalization of the company currently stands at $79.70B.
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A total of 29 analysts have issued a hold rating and 16 have given it a buy rating. Brokers who have rated the stock have averaged $61.50 as their price target over the next twelve months.
With the price target enhanced from $47 to $55, DZ Bank Downgraded its rating from Hold to Sell for Shopify Inc. (NYSE: SHOP). On May 09, 2023, Atlantic Equities Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock increasing its target price from $55 to quote $65, while ‘UBS’ rates the stock as ‘Neutral’.
A total of 0.19% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SHOP stock. A new stake in Shopify Inc. shares was purchased by HUDSON BAY CAPITAL MANAGEMENT LP during the first quarter worth $50,795,000. D. E. SHAW & CO., INC. invested $16,595,000 in shares of SHOP during the first quarter. In the first quarter, STONY POINT CAPITAL LLC acquired a new stake in Shopify Inc. valued at approximately $13,960,000. PERPETUAL LTD acquired a new stake in SHOP for approximately $13,719,000. VISTA EQUITY PARTNERS MANAGEMENT, LLC purchased a new stake in SHOP valued at around $12,595,000 in the second quarter. In total, there are 1,400 active investors with 65.80% ownership of the company’s stock.
During the past 12 months, Shopify Inc. has had a low of $23.63 and a high of $65.54. As of last week, the company has a debt-to-equity ratio of 0.11, a current ratio of 6.70, and a quick ratio of 6.70. The fifty day moving average price for SHOP is $49.09 and a two-hundred day moving average price translates $39.93 for the stock.
The latest earnings results from Shopify Inc. (NYSE: SHOP) was released for Mar, 2023. According to the Software – Application Company, earnings per share came in at $0.01, beating analysts’ expectations of -$0.04 by 0.05. This compares to -$1.17 EPS in the same period last year. The net profit margin was -32.50% and return on equity was -22.50% for SHOP. The company reported revenue of $1.51 billion for the quarter, compared to $1.2 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 25.25 percent. For the current quarter, analysts expect SHOP to generate $1.62B in revenue.
Shopify Inc.(SHOP) 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, 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. It also sells custom themes and apps, and registration of domain names; and merchant solutions, which include accepting payments, shipping and fulfillment, and securing working capital. The company was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011. Shopify Inc. was incorporated in 2004 and is headquartered in Ottawa, Canada.
