How Analysts Feel About Shopify Inc. (SHOP) After Today’s Significant Increase?

April 17, 2018 - By Adrian Mccoy

Shopify Inc. (NYSE:SHOP) Logo

The stock of Shopify Inc. (NYSE:SHOP) is a huge mover today! The stock increased 8.26% or $9.66 during the last trading session, reaching $126.6. About 2.35M shares traded or 19.65% up from the average. Shopify Inc. (NYSE:SHOP) has risen 82.98% since April 17, 2017 and is uptrending. It has outperformed by 71.43% the S&P500.
The move comes after 7 months positive chart setup for the $13.38 billion company. It was reported on Apr, 17 by We have $134.20 PT which if reached, will make NYSE:SHOP worth $802.50M more.

Analysts await Shopify Inc. (NYSE:SHOP) to report earnings on May, 1. They expect $-0.23 earnings per share, down 53.33 % or $0.08 from last year’s $-0.15 per share. After $-0.03 actual earnings per share reported by Shopify Inc. for the previous quarter, Wall Street now forecasts 666.67 % negative EPS growth.

Shopify Inc. (NYSE:SHOP) Ratings Coverage

Among 14 analysts covering Shopify Inc (NYSE:SHOP), 9 have Buy rating, 0 Sell and 5 Hold. Therefore 64% are positive. Shopify Inc had 22 analyst reports since October 27, 2017 according to SRatingsIntel. Morgan Stanley maintained the stock with “Equal-Weight” rating in Tuesday, January 30 report. As per Monday, November 27, the company rating was maintained by KeyBanc Capital Markets. Morgan Stanley maintained the shares of SHOP in report on Friday, February 16 with “Equal-Weight” rating. As per Thursday, February 22, the company rating was maintained by Macquarie Research. The stock of Shopify Inc. (NYSE:SHOP) earned “Equal-Weight” rating by Barclays Capital on Wednesday, November 1. The firm earned “Buy” rating on Friday, February 16 by Robert W. Baird. SunTrust maintained Shopify Inc. (NYSE:SHOP) rating on Tuesday, October 31. SunTrust has “Hold” rating and $100.0 target. As per Wednesday, November 1, the company rating was maintained by KeyBanc Capital Markets. Roth Capital maintained the stock with “Buy” rating in Monday, February 12 report. On Friday, February 16 the stock rating was maintained by Stephens with “Hold”.

Shopify Inc. provides a cloud-based multi-channel commerce platform for small and medium-sized businesses in Canada, the United States, the United Kingdom, Australia, and internationally. The company has market cap of $13.38 billion. The Company’s platform provides merchants with a single view of their business and clients in various sales channels, including Web and mobile storefronts, physical retail locations, social media storefronts, and marketplaces; and enables them to manage products and inventory, process orders and payments, ship orders, build customer relationships, and leverage analytics and reporting. It currently has negative earnings. The firm was formerly known as Jaded Pixel Technologies Inc. and changed its name to Shopify Inc. in November 2011.

Shopify Inc. (NYSE:SHOP) Ratings Chart

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