Economy

Shopify's (SHOP) "Buy" Rating Reiterated at Piper Jaffray Companies

Several large investors have recently added to or reduced their stakes in SHOP.

A number of research analysts have weighed in on SHOP shares. BidaskClub downgraded shares of Shopify from a strong-buy rating to a buy rating in a research note on Wednesday, July 5th. Tracking the stock price in relation to moving averages as well as highs and lows for the year might assist with evaluating future stock performance.

On Friday, Shares of Shopify Inc. Roth Capital upped their price target on Shopify from $92.00 to $101.00 and gave the company a buy rating in a research note on Wednesday, July 26th.

Among 32 analysts covering Shopify (NYSE:SHOP), 15 have Buy rating, 0 Sell and 17 Hold.

Moving average convergence divergence (MACD) shows that the stock is on a PRICE RELATIVITY trend.

Shopify Inc (US) (NYSE:SHOP) (TSE:SH) saw unusually large options trading on Thursday. The return on assets stands at -7.1%, Return on Equity now is -8.3% and the Return on Investment value is -8.8%.

Shopify Inc. (NYSE:SHOP) touched its 1-Year High price of $123.94 on 09/18/17 and its 1-Year Low price of $ 37.74 on 11/14/16. The firm has a 50-day moving average of $115.94 and a 200-day moving average of $115.94. The company operates in the Technology sector with a market capitalization of 9.93 Million. Shopify also was the target of some unusual options trading on Wednesday. Investors purchased 33,428 put options on the company.

iRobot Corporation (IRBT) stock price away from 20 day simple moving average slumped at -7.56% while its distance from 50 day simple moving average declined -18.04% along with -3.36% below away from two hundred simple moving averages.

Shopify (NYSE:SHOP) (TSE:SH) last announced its quarterly earnings results on Tuesday, August 1st. Shopify had a negative net margin of 8.96% and a negative return on equity of 8.26%. The analysts estimated EPS for the higher end at 0.06 and lower end at 0 while the year ago reported earnings per share was 0.03. The company's revenue for the quarter was up 75.2% compared to the same quarter past year. On average, analysts anticipate that Shopify will post ($0.04) earnings per share for the current year.

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Other hedge funds have also bought and sold shares of the company. As of the end of the quarter Pacad Investment Ltd. had acquired a total of 5,542 shares growing its stake by 40.8%. Private Advisory Group LLC now owns 4,391 shares of the software maker's stock valued at $382,000 after acquiring an additional 164 shares in the last quarter. Private Advisory Group LLC raised its position in Shopify by 3.9% during the second quarter. Franklin Resources Inc. now owns 398,250 shares of the software maker's stock valued at $34,607,000 after purchasing an additional 378,050 shares during the period. Franklin Resources Inc. boosted its stake in shares of Shopify by 1,871.5% during the second quarter.

Shopify Inc. provides a cloud-based and multi-channel commerce platform for small and medium-sized businesses. The Firm offers subscription solutions and merchant solutions. The Company's software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts and marketplaces.



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