Shopify Inc (NYSE:SHOP) (TSE:SHOP) shares traded down 5.7% during trading on Monday . The company traded as low as $350.33 and last traded at $358.67, 4,493,981 shares traded hands during mid-day trading. An increase of 155% from the average session volume of 1,763,862 shares. The stock had previously closed at $380.42.

SHOP has been the subject of several analyst reports. Piper Jaffray Companies set a $320.00 price objective on Shopify and gave the stock a “hold” rating in a research report on Tuesday. KeyCorp raised their target price on Shopify from $350.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Canaccord Genuity lifted their target price on Shopify from $360.00 to $385.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group set a $300.00 price target on Shopify and gave the company a “hold” rating in a research note on Tuesday. Finally, Barclays increased their price target on Shopify from $225.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, June 21st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $335.88.

The company has a fifty day moving average of $361.45 and a 200-day moving average of $281.04. The company has a current ratio of 11.44, a quick ratio of 11.44 and a debt-to-equity ratio of 0.05. The stock has a market cap of $37.62 billion, a PE ratio of -569.69 and a beta of 1.23.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Thursday, August 1st. The software maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $361.98 million during the quarter, compared to analysts’ expectations of $350.59 million. During the same period last year, the business posted $0.02 EPS. Shopify’s revenue for the quarter was up 47.8% on a year-over-year basis. As a group, research analysts anticipate that Shopify Inc will post -0.82 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Tortoise Investment Management LLC purchased a new stake in shares of Shopify in the 1st quarter valued at approximately $29,000. Signaturefd LLC increased its holdings in shares of Shopify by 56.9% in the 1st quarter. Signaturefd LLC now owns 171 shares of the software maker’s stock valued at $35,000 after acquiring an additional 62 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Shopify in the 2nd quarter valued at about $37,000. Advisors Preferred LLC acquired a new stake in shares of Shopify during the 2nd quarter worth about $39,000. Finally, Ropes Wealth Advisors LLC raised its position in shares of Shopify by 41.0% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 148 shares of the software maker’s stock worth $44,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 59.63% of the company’s stock.

Shopify Company Profile (NYSE:SHOP)

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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