Capital International Ltd. CA boosted its position in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 388,196 shares of the software maker’s stock after purchasing an additional 15,615 shares during the quarter. Shopify comprises 2.2% of Capital International Ltd. CA’s portfolio, making the stock its 9th biggest holding. Capital International Ltd. CA’s holdings in Shopify were worth $62,488,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Kingdom Financial Group LLC. acquired a new position in Shopify in the 4th quarter worth about $26,000. Curio Wealth LLC acquired a new position in Shopify in the 4th quarter worth about $27,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in Shopify in the 4th quarter worth about $29,000. Lloyd Advisory Services LLC. acquired a new position in Shopify in the 4th quarter worth about $31,000. Finally, Lodestone Wealth Management LLC acquired a new position in Shopify in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 69.27% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $126.00 target price (down from $181.00) on shares of Shopify in a report on Thursday, February 12th. Robert W. Baird set a $150.00 target price on Shopify in a report on Wednesday, May 6th. Stifel Nicolaus set a $115.00 target price on Shopify and gave the stock a “hold” rating in a report on Wednesday, February 11th. Citigroup lowered their target price on Shopify from $163.00 to $156.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Finally, DA Davidson lowered their target price on Shopify from $195.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.17.
Shopify Trading Down 5.6%
Shares of SHOP stock opened at $109.54 on Friday. The stock has a market cap of $142.15 billion, a price-to-earnings ratio of 108.46, a PEG ratio of 3.07 and a beta of 2.60. The stock has a 50-day moving average of $114.55 and a 200-day moving average of $132.80. Shopify Inc. has a 1-year low of $94.00 and a 1-year high of $182.19.
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, beating the consensus estimate of $0.22 by $998.78. Shopify had a return on equity of 12.07% and a net margin of 10.77%.The company had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Sell-side analysts forecast that Shopify Inc. will post 1.36 earnings per share for the current year.
Shopify Company Profile
Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.
Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.
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