Shopify Inc (SHOP) PT Raised to C$69.00

E-commerce platform provider Shopify posted a Q4 beat early Wednesday

BTIG Research reaffirmed a buy rating on shares of Shopify in a report on Thursday, December 29th. This was driven by monthly recurring revenue growth and the merchants' number on Shopify platform crossed 375,000 mark in the December quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company.

If we look at stock performance in last active day trading, we see that stock has moved up 8.14% to end the day at $60.61. Bank of Montreal Can raised its stake in Shopify by 0.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,635,131 shares of the company's stock valued at $70,033,000 after buying an additional 569,800 shares in the last quarter. Gilder Gagnon Howe & Co.

Over the last twelve months shares in Shopify have increased by 0% from 0.00 to 60.79. 73,909 shares of the stock traded hands.

Shopify Inc. (NYSE:SHOP) gained 0.00% to reach at the trading price of $56.05 as it is set to release its next quarterly earnings report on February 15, 2017. The firm's market cap is $3.59 billion. Earnings per share for the recently concluded quarter is expected to come in at $-0.02 a share with $121.61M in revenue. Shopify had a negative net margin of 9.96% and a negative return on equity of 13.30%.

The company forecast full-year revenue of $580 million to $600 million, well above estimates of $563.3 million. The company focuses on merchant and subscription solutions. "As the engine powering the growth of these merchants, Shopify has an opportunity that stretches years into the future".

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On 05/04/2016, Analysts were suspecting EPS of $-0.09/share where Shopify Inc.

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Shopify has with a one year low of $18.58 and a one year high of $62.47 and has a market capitalization of $0. Goldman Sachs Group Inc. began coverage on shares of Shopify in a research note on Tuesday, October 4th. The company has a consensus rating of Buy and an average target price of $51.66.

Shopify has 88,958,000 shares in issue which have a share price of 60.13 giving Shopify a market capitalisation of 5.35B Dollars.

Summit Redstone on Thursday indicated Shopify's analyst rating as "Buy" with its price target of 69 highlighting a potential increase of 14.75% from Shopify's current price of 60.13. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twenty-one have issued a buy recommendation and one has issued a strong buy recommendation on the company.