Jefferies Financial Group cuts Shopify (NYSE:SHOP) price target to $550.00
Shopify (NYSE:SHOP – Get a Review) (TSE:SHOP) saw its price target lowered by equity analysts at Jefferies Financial Group from $1,350.00 to $550.00 in a note released to investors on Thursday, reports The Fly. Jefferies Financial Group’s price target would indicate a potential upside of 45.70% from the company’s current price.
Several other research companies have also published reports on SHOP. Morgan Stanley lowered its price target on Shopify shares from $1,150.00 to $1,075.00 and set an “equal weight” rating for the company in a Thursday, Feb. 17 research report. DA Davidson lowered its price target on Shopify shares from $1,400.00 to $800.00 in a Thursday, February 17 research report. Royal Bank of Canada lowered its price target on Shopify shares from $1,300.00 to $1,000.00 and set an “outperform” rating for the company in a Monday, April 25 research report. Stifel Nicolaus lowered his price target on Shopify shares from $1,000.00 to $800.00 in a Monday, April 25 report. Finally, Zacks Investment Research reaffirmed a “hold” rating on Shopify shares in a Thursday, March 17 report. Two investment analysts have assigned the stock a sell rating, seventeen have issued a hold rating and twenty have assigned the stock a buy rating. According to data from MarketBeat.com, Shopify has a consensus rating of “Hold” and a consensus price target of $943.75.
Shares of SHOP opened at $377.49 on Thursday. Shopify has a one-year low of $355.13 and a one-year high of $1,762.92. The company has a debt ratio of 0.10, a quick ratio of 12.15 and a current ratio of 12.15. The company has a 50-day moving average price of $591.74 and a 200-day moving average price of $1,014.20. The company has a market capitalization of $47.52 billion, a price-earnings ratio of 16.49 and a beta of 1.82.
Shopify shares are expected to split before the market opens on Wednesday, June 29. The 10-1 split was announced on Monday, April 11. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, June 28.
Shopify (NYSE:SHOP – Get Rating) (TSE:SHOP) last released its quarterly earnings data on Thursday, May 5. The software maker reported earnings per share (EPS) of $0.20 for the quarter, beating the consensus estimate of ($0.39) by $0.59. Shopify had a net margin of 63.20% and a return on equity of 4.38%. The company posted revenue of $1.20 billion in the quarter, compared to analysts’ estimates of $1.24 billion. In the same quarter a year earlier, the company had earned earnings per share of $1.32. The company’s quarterly revenue increased by 21.7% compared to the same quarter last year. As a group, stock analysts expect Shopify to post -2.04 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. First Trust Advisors LP increased its position in Shopify by 15.6% in Q1. First Trust Advisors LP now owns 3,499 shares of the software maker valued at $723,000 after buying an additional 472 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Shopify by 0.8% in Q3. PNC Financial Services Group Inc. now owns 5,087 shares of the software maker valued at $6,896,000 after buying 41 additional shares in the last quarter. Keybank National Association OH raised its position in Shopify by 2.1% in Q3. Keybank National Association OH now owns 2,611 shares of the software maker valued at $3,540,000 after buying 53 additional shares in the last quarter. Avalon Investment & Advisory bought a new stake in Shopify in Q3 worth approximately $232,000. Finally, Bank of Hawaii bought a new stake in Shopify in Q3 valued at around $1,311,000. Institutional investors hold 62.60% of the company’s shares.
Shopify Company Profile (Get a rating)
Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, Asia-Pacific, and Latin America. The Company’s platform enables merchants to display, manage, market and sell its products through various sales channels, including web and mobile storefronts, brick-and-mortar outlets, pop-up stores, social media, native mobile apps, buy buttons and marketplaces; and helps manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reports, manage cash, payments and transactions, and access funding.
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