Shopify Inc. (NYSE:SHOP) Now Covered by Analysts at Ifs Securities

CI Investments Inc. cut its holdings in shares of Shopify Inc. (NYSE:SHOP) (TSE:SH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 312,800 shares of the software maker's stock after selling 321,000 shares during the quarter. Shopify Inc. was founded in 2004 and is headquartered in Ottawa, Canada.

Several other institutional investors also recently modified their holdings of the company. First Mercantile Trust Co. acquired a new position in Shopify during the third quarter worth about $124,000. Wells Fargo & Company MN increased its holdings in shares of Shopify by 62.2% during the 2nd quarter. FMR has an ownership of 12,560,797 stocks of the software maker's shares valued at $1,090,644,000 following purchasing an extra 989,113 shares through out the quarter. Scge Management L.P. now owns 1,015,000 shares of the software maker's stock worth $69,111,000 after buying an additional 145,000 shares in the last quarter. Pacad Investment Ltd. owns 19,142 shares with a value of $1,663,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Shopify during the 2nd quarter worth approximately $297,000. The value of the company's investment in Shopify Inc. If you are viewing this story on another site, it was copied illegally and reposted in violation of USA and global trademark & copyright laws. The correct version of this report can be viewed at

A number of research analysts recently weighed in on the company. The stock of Shopify Inc (US) (NYSE:SHOP) earned "Equal Weight" rating by Barclays Capital on Wednesday, March 29. The company was initiated on Wednesday, September 6 by DA Davidson. The stock has a consensus rating of "Buy" and a consensus price target of $47.53. Maxim Group initiated the shares of SHOP in report on Thursday, May 26 with "Hold" rating. The firm initiated coverage on shares of SHOP in a research report issued on 7 September. The rating was maintained by RBC Capital Markets on Monday, May 2 with "Outperform". The stock of Shopify Inc (US) (NYSE:SHOP) has "Outperform" rating given on Thursday, January 7 by Robert W. Baird. Shares are trading at $113.61 which is impressively higher than the 50 day moving average of $99.26 and significantly higher than the 200 day moving average of $84.68. Shopify has a 52-week low of $37.74 and a 52-week high of $114.88. (NYSE:SHOP) traded up 0.85% during trading on Tuesday, reaching $53.13. It opened the session with a $110.47 price tag, later ranging from $110.14 to $113.53, the range at which the stock has traded at throughout the day. The share price has moved forward from its 20 days moving average, trading at a distance of 12.78% and stays 18.8% away from its 50 days moving average. The company's market cap is $11.12 billion.

Shopify (NYSE:SHOP) (TSE:SH) last issued its earnings results on Tuesday, August 1st. Analysts expect that Shopify Inc. will post ($0.05) earnings per share for the current fiscal year. The business's quarterly revenue was up 75.2% on a year-over-year basis. (NASDAQ:ENTG) are 5.13%; 7.24% for the month; 0% for the last quarter; 25.41% for the past six-months; and 54.67% for the last 12 months. The software maker reported ($0.15) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.20) by $0.05.

Shopify Inc (Shopify) provides a cloud-based, multi-channel commerce platform designed for small and medium-sized businesses.

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