Impact of Brokerage Rating on Shopify Inc.(SHOP)

Many Shopify Inc.(SHOP) Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock. Company shares were Reiterated by RBC Capital Mkts on Feb 13, 2017 to Outperform, Raises Price Target to $ 63 from a previous price target of $52 .Company shares were Reiterated by Monness Crespi & Hardt on Feb 13, 2017 to Buy, Raises Price Target to $ 63 from a previous price target of $50 .Shopify Inc was Initiated by Oppenheimer to Perform on Dec 2, 2016. Shopify Inc was Initiated by Mackie Research on Nov 29, 2016 to Buy, Price Target of the shares are set at $60.

Shopify Inc Last issued its quarterly earnings results on Nov 2, 2016. The company reported $-0.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.01. Analyst had a consensus of $-0.03. The company had revenue of $99.56 million for the quarter, compared to analysts expectations of $94.85 million. The companys revenue was up 88.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.

Shopify Inc. (NYSE:SHOP) has received a short term rating of hold from experts at Zacks with a rank of 3. The stock has been rated an average of 1.85 by 17 Brokerage Firm. 8 Wall Street Firms have rated the stock as a strong buys. 3 stock experts have also suggested a buy rating. 6 Brokerage Firms have advised hold.

Shopify Inc. (NYSE:SHOP): 15 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $47.87 in Shopify Inc. (NYSE:SHOP). However, the stock price could fluctuate by $ 6.35 from the estimate as it is suggested by the standard deviation reading. The higher estimate has been put at $60 price target with the lower price estimate is calculated at $35

Tuesdays trading session turned out to be a no-profit no-loss event for Shopify Inc. (NYSE:SHOP). The opening trade occurred at $56.32 and the highest and the lowest points of the day were $56.32 and $55.15 respectively. The final trade was registered at $56.05 and the volume by the end of the day had touched 1,966,613 shares. The 52-week high of the stock is $57.16 and the 52-week low is $19.33. According to the current valuation, the market cap of the company is $4,985 million and the total number of shares available in public circulation is 88,936,245.

Shopify Inc. offers cloud-based commerce platform. The Companys platform provides merchants to design, set up and manage their stores through Web, mobile, social media, brick-and-mortar locations and pop-up shops. Shopify Inc. is based in Ottawa, Canada.

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For any feedback and suggestions contact author at Michelle.Egan@thefoundersdaily.com

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