O Shaughnessy Asset Management LLC lifted its holdings in Shopify Inc. (NASDAQ:SHOP – Free Report) (TSE:SHOP) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,068 shares of the software maker’s stock after purchasing an additional 21,235 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Shopify were worth $33,981,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingdom Financial Group LLC. purchased a new position in Shopify during the fourth quarter worth $26,000. Curio Wealth LLC purchased a new position in Shopify during the fourth quarter worth $27,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in Shopify during the fourth quarter worth $29,000. Lloyd Advisory Services LLC. purchased a new position in Shopify during the fourth quarter worth $31,000. Finally, Lodestone Wealth Management LLC purchased a new position in Shopify during the fourth quarter worth $31,000. 69.27% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on SHOP. KeyCorp reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Shopify in a research note on Wednesday, February 11th. Stifel Nicolaus set a $115.00 price objective on shares of Shopify and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price objective on shares of Shopify in a research note on Tuesday, May 5th. Wedbush dropped their price objective on shares of Shopify from $185.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, February 12th. Finally, Citizens Jmp dropped their price objective on shares of Shopify from $160.00 to $150.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.17.
Shopify Trading Up 1.1%
NASDAQ:SHOP opened at $110.78 on Tuesday. Shopify Inc. has a twelve month low of $94.00 and a twelve month high of $182.19. The company has a market cap of $143.75 billion, a price-to-earnings ratio of 109.68, a price-to-earnings-growth ratio of 3.07 and a beta of 2.60. The stock has a fifty day simple moving average of $114.46 and a 200-day simple moving average of $132.54.
Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last released its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share for the quarter, topping 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 business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.08 billion. As a group, equities research analysts predict that Shopify Inc. will post 1.36 EPS for the current fiscal year.
Shopify 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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