<div id="readability-page-1"><p>Shopify Inc. (NYSE:SHOP - Get Free Report) <span>TSE: SHOP<span></span></span>'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $64.21, but opened at $67.26. Shopify shares last traded at $68.57, with a volume of 4,312,766 shares.</p><h2>Analyst Upgrades and Downgrades</h2><ul><li>Target Stock: Shopify Partnership and Investments Signal Growth</li></ul><p>SHOP has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on shares of Shopify from $67.00 to $74.00 and gave the stock a &#34;buy&#34; rating in a report on Tuesday, May 28th. Wells Fargo &amp; Company cut their price target on shares of Shopify from $85.00 to $75.00 and set an &#34;overweight&#34; rating on the stock in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Shopify from $95.00 to $80.00 and set a &#34;buy&#34; rating on the stock in a report on Thursday, May 9th. Bank of America raised shares of Shopify from a &#34;neutral&#34; rating to a &#34;buy&#34; rating and upped their price objective for the company from $78.00 to $82.00 in a report on Tuesday. Finally, Mizuho dropped their price objective on shares of Shopify from $75.00 to $65.00 and set a &#34;neutral&#34; rating on the stock in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, Shopify has a consensus rating of &#34;Moderate Buy&#34; and an average target price of $77.44.</p><p><b>Get Our Latest Stock Report on Shopify</b></p><h2>Shopify Stock Performance</h2><ul><li>Shopify Stock: Buy-the-Dip Strategy Validated as Growth Soars</li></ul><p>The firm has a 50-day moving average of $62.79 and a two-hundred day moving average of $72.12. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $88.67 billion, a PE ratio of -402.82, a PEG ratio of 3.24 and a beta of 2.30. </p><p>Shopify (NYSE:SHOP - Get Free Report) <span>TSE: SHOP<span></span></span> last issued its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. Shopify had a positive return on equity of 7.36% and a negative net margin of 2.82%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. Research analysts anticipate that Shopify Inc. will post 0.62 EPS for the current year. </p><h2>Institutional Trading of Shopify</h2><ul><li>Is GoDaddy Stock a Smart Addition to Your Portfolio?</li></ul><p>Several institutional investors have recently bought and sold shares of the business. NorthCrest Asset Manangement LLC boosted its stake in shares of Shopify by 5.4% in the second quarter. NorthCrest Asset Manangement LLC now owns 89,808 shares of the software maker's stock worth $5,932,000 after acquiring an additional 4,575 shares during the last quarter. Nepsis Inc. boosted its stake in shares of Shopify by 2.0% in the second quarter. Nepsis Inc. now owns 308,807 shares of the software maker's stock worth $20,397,000 after acquiring an additional 6,072 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Shopify by 2.7% in the second quarter. Dynamic Advisor Solutions LLC now owns 8,193 shares of the software maker's stock worth $541,000 after acquiring an additional 219 shares during the last quarter. Occidental Asset Management LLC acquired a new stake in shares of Shopify in the second quarter worth approximately $218,000. Finally, PFG Private Wealth Management LLC boosted its stake in shares of Shopify by 19,000.0% in the second quarter. PFG Private Wealth Management LLC now owns 1,337 shares of the software maker's stock worth $88,000 after acquiring an additional 1,330 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds. </p><h2>About Shopify</h2> (Get Free Report)<p>Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company's platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.</p><h2>Featured Articles</h2><ul><li>Five stocks we like better than Shopify</li><li>What is the S&amp;P 500 and How It is Distinct from Other Indexes</li><li>Tech Leader's Stock Split: Is It the Right Time to Buy?</li><li>Dividend Payout Ratio Calculator</li><li>Could the Economy be Bottoming? Major Bank's Earnings Say Yes</li><li>Top Biotech Stocks: Exploring Innovation Opportunities</li><li>Seize This Prime Stock Opportunity on Amazon Prime Days</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><p>→ I spent 44 years on Wall Street. 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SHOP

<p>Shopify (NYSE:SHOP) shares gap up to $64.21, opening at $67.26. Analysts have given the stock a "buy" rating and increased the price target. Shopify's stock performance has been validated as growth soars. The company has a market capitalization of $88.67 billion and a consensus rating of "Moderate Buy." Institutional investors have shown interest in the stock. The stock is owned by 69.27% of institutional investors and hedge funds. Shopify provides a commerce platform and services globally.</p>

Shopify (NYSE:SHOP) Shares Gap Up to $64.21