Shopify (SHOP): Canaccord Reiterates Buy Rating Today, Has a Target of $160.0

Shopify’s “Unite 2018” event in Toronto this week

The firm has "Equal-Weight" rating by Morgan Stanley given on Tuesday, January 30.

The $160.0 target on the $15.50 billion MC company given by Stock research analysts at Canaccord gives a potential upside of 11.65 %.

A number of other research firms also recently issued reports on SHOP.

On Wednesday, 9 May, a note was revealed to clients and investors of Shopify (SHOP). Monness Crespi & Hardt restated a "buy" rating and set a $150.00 target price (up from $125.00) on shares of Shopify in a research note on Thursday, February 15th. On Thursday, February 15 the stock rating was maintained by Canaccord Genuity with "Buy". The rating has been shown in a research report on 9 May. As per Friday, February 16, the company rating was maintained by Robert W. Baird. The company was maintained on Tuesday, May 1 by Robert W. Baird. $142.33's average target is -2.58% below currents $146.1 stock price.

The stock increased 0.36% or $0.53 during the last trading session, reaching $146.63.Shopify Inc. has volume of 259,588 shares. About 923,705 shares traded. Shopify has a 52-week low of $71.27 and a 52-week high of $154.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results on Tuesday, May 1st. The software maker reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.27. The company had revenue of $214.30 million for the quarter, compared to analysts' expectations of $202.35 million. Shopify had a negative return on equity of 3.67% and a negative net margin of 5.56%. The business's quarterly revenue was up 70.9% compared to the same quarter past year. Shopify's revenue for the quarter was up 68.2% on a year-over-year basis. equities analysts predict that Shopify will post -0.81 earnings per share for the current fiscal year. The fund owned 319,907 shares of the software maker's stock after selling 10,916 shares during the quarter. Quinn Opportunity Partners LLC grew its holdings in shares of Shopify by 14.3% in the 4th quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 8,030 shares of the software maker's stock worth $811,000 after acquiring an additional 485 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Shopify by 1.5% during the 1st quarter. Fusion Family Wealth LLC boosted its holdings in shares of Shopify by 109.2% during the 1st quarter. Mawer Investment Management Ltd. now owns 343,714 shares of the software maker's stock worth $34,755,000 after purchasing an additional 49,346 shares in the last quarter.

Addenda Capital Inc. purchased a new position in shares of Shopify in the 4th quarter valued at about $6,239,000.

Several large investors have recently made changes to their positions in the stock.

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 firm is worth $15.50 billion.



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