Jefferies Financial Group set a $300.00 price target on Shopify (NYSE:SHOP) (TSE:SHOP) in a research report released on Tuesday, TipRanks reports. The brokerage currently has a hold rating on the software maker’s stock.

A number of other brokerages also recently issued reports on SHOP. CSFB raised their price objective on Shopify from $275.00 to $370.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Mackie upped their target price on Shopify from $280.00 to $360.00 and gave the company a buy rating in a report on Monday, July 15th. Credit Suisse Group reissued a buy rating and set a $370.00 target price on shares of Shopify in a research report on Wednesday. Wedbush lowered shares of Shopify from an outperform rating to a neutral rating and raised their price target for the stock from $270.00 to $305.00 in a report on Tuesday, June 25th. They noted that the move was a valuation call. Finally, William Blair restated a hold rating on shares of Shopify in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. Shopify presently has a consensus rating of Hold and a consensus target price of $335.88.

NYSE SHOP traded up $10.27 on Tuesday, reaching $347.51. The company had a trading volume of 3,196,958 shares, compared to its average volume of 1,792,052. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of -569.69 and a beta of 1.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 11.44 and a quick ratio of 11.44. Shopify has a fifty-two week low of $117.64 and a fifty-two week high of $409.61. The business has a 50 day moving average of $361.45 and a two-hundred day moving average of $281.04.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Thursday, August 1st. The software maker reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.45. Shopify had a negative return on equity of 3.85% and a negative net margin of 5.98%. The firm had revenue of $361.98 million for the quarter, compared to the consensus estimate of $350.59 million. During the same period in the previous year, the business earned $0.02 EPS. The business’s quarterly revenue was up 47.8% compared to the same quarter last year. As a group, research analysts predict that Shopify will post -0.82 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Thoroughbred Financial Services LLC lifted its position in shares of Shopify by 29,316.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,533,766 shares of the software maker’s stock valued at $153,377,000 after acquiring an additional 1,528,552 shares during the period. CIBC World Markets Inc. boosted its stake in Shopify by 378.5% during the first quarter. CIBC World Markets Inc. now owns 865,184 shares of the software maker’s stock worth $178,764,000 after acquiring an additional 684,365 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Shopify by 8.4% in the second quarter. Baillie Gifford & Co. now owns 6,418,913 shares of the software maker’s stock worth $1,926,637,000 after purchasing an additional 498,874 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Shopify by 76.2% in the first quarter. The Manufacturers Life Insurance Company now owns 507,158 shares of the software maker’s stock worth $104,789,000 after purchasing an additional 219,284 shares during the period. Finally, Bessemer Group Inc. increased its stake in Shopify by 2,201.6% in the second quarter. Bessemer Group Inc. now owns 221,412 shares of the software maker’s stock valued at $66,457,000 after purchasing an additional 211,792 shares in the last quarter. 59.63% of the stock is owned by institutional investors.

Shopify Company Profile

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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Analyst Recommendations for Shopify (NYSE:SHOP)

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