Shopify Inc (SHOP) is Initiated by Citigroup to Neutral, Price Target at $35

Shopify Inc (SHOP) was Initiated by Citigroup to “Neutral” and the brokerage firm has set the Price Target at $35. Citigroup advised their investors in a research report released on Aug 1, 2016.

Many Wall Street Analysts have commented on Shopify Inc. Monness Crespi & Hardt Initiated Shopify Inc on Jun 29, 2016 to “Buy”, Price Target of the shares are set at $35.Shopify Inc was Initiated by Maxim Group to “Hold” on May 26, 2016. Macquarie Initiated Shopify Inc on May 18, 2016 to “Outperform”, Price Target of the shares are set at $37.

On the company’s financial health, Shopify Inc reported $-0.11 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.09. The company had revenue of $72.70 million for the quarter, compared to analysts expectations of $66.89 million. The company’s revenue was up 94.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.12 EPS.

Shopify Inc (SHOP) witnessed a volatile trading activity on Friday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $34.31 and reached the intraday high at $34.76. The bulls started the profit booking and pushed the shares to intraday low of $33.5. The trading session was marked by a volume range of 6,72,541 shares exchanging hands. The 52-week high of the shares is $41.11 and the 52-week low is $18.48. The market cap of the company stands at $2,777 M and there are 8,10,29,875 shares in public circulation.

Shopify Inc. is a Canada-based company that provides a cloud-based commerce platform for small and medium-sized businesses. The Company’s platform lets users to create their own online store. The Company’s platform provides merchants to design set up and manage their stores across multiple sales channels including Web mobile social media brick-and-mortar locations and pop-up shops. Its platform provides a merchant a single view of their business. Its platform also provides merchants to manage all aspects of their shops: uploading products customizing the design accepting credit cards and viewing their incoming orders and completed transactions. Its platform lets users to sell fashion electronics sporting goods furniture and food among others. The Company’s platform offers over 900 applications.

Shopify Inc

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