Zacks Investment Research Retrograde Shopify (NYSE: SHOP) For Sale


Shopify (NYSE: SHOP) (TSE: SHOP) was downgraded by Zacks Investment Research from a “strong buy” rating to a “sell” rating in a report released Tuesday, reports. They currently have a price target of $ 1,516.00 on the software maker’s stock. Zacks Investment Research’s target price indicates a potential rise of 10.71% from the company’s previous close.

According to Zacks, “Shopify is benefiting from the growth driven by the e-commerce boom in the merchant base. The strong increase in Shopify Shipping, Shopify Payments and Shopify Capital is driving revenue, as evidenced by second quarter results. The company has focused on winning on a regular basis, based on product offerings including Shop Pay and Shop Pay installments, as well as features like end-to-end order tracking. Solid adoption of news User-friendly applications for merchants is promising. Partnerships with Facebook and Google are expected to expand the merchant base. In addition, initiatives aimed at international expansion are noteworthy. However, higher investments in product development and marketing. order processing platform in the context of strong competition in the field of electronic commerce are likely to limit r expansion of short-term margins. Stocks have underperformed the industry year to date. “

Other research analysts have also recently published reports on the company. Stifel Nicolaus increased his Shopify price target from $ 1,600.00 to $ 1,650.00 and gave the stock a “buy” rating in a report released on Wednesday, July 28. They noted that the move was an appraisal call. DA Davidson raised its price target on Shopify from $ 1,275.00 to $ 1,450.00 and gave the company a “neutral” rating in a research report on Thursday, July 29. Wedbush raised its price target on Shopify from $ 1,650.00 to $ 1,800.00 and gave the stock an “outperformance” rating in a research note on Thursday, July 29. Susquehanna raised its price target on Shopify from $ 1,500.00 to $ 1,800.00 and gave the company a “positive” rating in a report released Thursday, July 22. Finally, Loop Capital raised its price target on Shopify from $ 1,400.00 to $ 1,600.00 and gave the stock a “buy” rating in a research note on Wednesday, June 30. One analyst rated the stock with a sell rating, eleven assigned a conservation rating and nineteen issued a buy rating for the company’s stock. Based on data from, the company currently has an average rating of “Buy” and an average price target of $ 1,635.59.

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This innovator could be the first shot in a green rush that swells to 300%.

Shopify shares traded at $ 74.43 in Tuesday’s trading day, reaching $ 1,369.38. 76,478 shares of the company traded hands, compared to its average volume of 1,284,450. The company has a leverage ratio of 0.10, a current ratio of 16.55 and a rapid ratio of 16.55 . Shopify has a one-year minimum of $ 875.00 and a one-year maximum of $ 1,650.00. The company has a 50-day moving average price of $ 1,512.23 and a 200-day moving average price of $ 1,341.35. The company has a market cap of $ 170.85 billion, a PE ratio of 70.70, a P / E / G ratio of 13.58 and a beta of 1.45.

Shopify (NYSE: SHOP) (TSE: SHOP) last reported quarterly results on Wednesday, July 28. The software maker reported earnings per share (EPS) of $ 2.24 for the quarter, beating analyst consensus estimates of $ 0.23 from $ 2.01. Shopify had a net margin of 63.65% and a return on equity of 7.15%. The company posted revenue of $ 1.12 billion for the quarter, compared to a consensus estimate of $ 1.04 billion. Equity research analysts expect Shopify to post earnings per share of 3.95 for the current year.

Several hedge funds and other institutional investors recently changed their holdings in SHOP. Castleview Partners LLC purchased a new position in Shopify during the 2nd quarter valued at approximately $ 29,000. Stonebridge Capital Advisors LLC purchased a new stake in Shopify in the first quarter valued at $ 30,000. Barrett Asset Management LLC purchased a new equity stake in Shopify during the first quarter valued at $ 34,000. Delos Wealth Advisors LLC purchased a new equity stake in Shopify during the second quarter valued at $ 35,000. Finally, Atlas Private Wealth Advisors purchased a new position in Shopify shares during the second quarter valued at $ 37,000. 60.06% of the shares are currently held by institutional investors.

About Shopify

Shopify, Inc operates a cloud-based commerce platform designed for small and medium businesses. Its software is used by merchants to run their business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and physical and pop-up stores. The company’s platform provides merchants with a single view of the business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage party analyzes and reports.

Read more: What is cost of goods sold (COGS)?

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