Today’s Rating On Watch: Is Mackie Research Positive For Shopify (NYSE:SHOP)?

November 29, 2016 - By Winifred Garcia

Today's Rating On Watch: Is Mackie Research Positive For Shopify (NYSE:SHOP)?

Why Mackie Research Gives Shopify (NYSE:SHOP) $60.00 Price Target

Mackie Research revealed in a recent report that it has begun coverage on Shopify (NYSE:SHOP) stock, with a Buy rating and a $60.00 target.

Shopify Inc (NYSE:SHOP) Ratings Coverage

Out of 18 analysts covering Shopify (NYSE:SHOP), 13 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 72% are positive. $50 is the highest target while $25 is the lowest. The $37.40 average target is -12.19% below today’s ($42.59) stock price. Shopify has been the topic of 24 analyst reports since July 31, 2015 according to StockzIntelligence Inc. On Wednesday, June 29 the stock rating was initiated by Monness Crespi & Hardt with “Buy”. Raymond James upgraded Shopify Inc (NYSE:SHOP) on Wednesday, November 18 to “Outperform” rating. The firm has “Buy” rating by Roth Capital given on Wednesday, May 4. Wedbush initiated the stock with “Outperform” rating in Thursday, January 21 report. On Monday, October 17 the stock rating was initiated by Dundee Securities with “Neutral”. The company was downgraded on Wednesday, September 28 by Morgan Stanley. As per Friday, July 31, the company rating was maintained by RBC Capital Markets. RBC Capital Markets maintained the stock with “Outperform” rating in Monday, May 2 report. The stock of Shopify Inc (NYSE:SHOP) has “Neutral” rating given on Friday, August 12 by Bank of America. Canaccord Genuity upgraded the stock to “Buy” rating in Thursday, February 18 report.

The stock increased 0.24% or $0.1 on November 29, hitting $42.59. About 421,495 shares traded hands. Shopify Inc (NYSE:SHOP) has risen 35.02% since April 26, 2016 and is uptrending. It has outperformed by 29.76% the S&P500.

Analysts await Shopify Inc (NYSE:SHOP) to report earnings on February, 15. They expect $-0.12 earnings per share, down 50.00% or $0.04 from last year’s $-0.08 per share. After $-0.11 actual earnings per share reported by Shopify Inc for the previous quarter, Wall Street now forecasts 9.09% negative EPS growth.

Shopify Inc. is a provider of cloud-based, multi-channel commerce platform designed for small and medium-sized businesses. The company has a market cap of $3.72 billion. The Company’s software is used by merchants to run their business across all of their sales channels, including Web and mobile storefronts, social media storefronts, such as Facebook, Twitter and Pinterest, and physical retail locations. It currently has negative earnings. The Company’s platform provides merchants with a single view of their business and clients across all of their sales channels and enables them to manage products and inventory, process orders and payments, ship orders, build customer relationships and leverage analytics and reporting all from one integrated back office.

According to Zacks Investment Research, “Shopify Inc. offers cloud-based commerce platform. The Company’s 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.”

More news for Shopify Inc (NYSE:SHOP) were recently published by: Fool.com, which released: “Shopify Inc. Revenue Soars 89%” on November 03, 2016. Investorplace.com‘s article titled: “3 Big Stock Charts: Shopify Inc (SHOP), J C Penney Company Inc (JCP) and SPDR …” and published on November 22, 2016 is yet another important article.

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