Paradigm Initiates Coverage on Shopify Inc to Buy

Paradigm Initiates Coverage on Shopify Inc(NYSE:SHOP). The shares have been rated Buy. The rating by Paradigm was issued on Apr 14, 2016.

In a different note, On Mar 8, 2016, Pacific Crest said it Upgrades its rating on Shopify Inc. The shares have been rated ‘Overweight’ by the firm. On Feb 18, 2016, Credit Suisse said it Maintains its rating on Shopify Inc. In the research note, the firm Lowers the price-target to $40.00 per share. The shares have been rated ‘Outperform’ by the firm. On Feb 18, 2016, Canaccord Genuity said it Upgrades its rating on Shopify Inc. In the research note, the firm Lowers the price-target to $35.00 per share. The shares have been rated ‘Buy’ by the firm. Piper Jaffray said it Initiates Coverage on Shopify Inc, according to a research note issued on Feb 16, 2016. The shares have been rated ‘Overweight’ by the firm. Wedbush said it Initiates Coverage on Shopify Inc, according to a research note issued on Jan 20, 2016. The shares have been rated ‘Outperform’ by the firm. On Jan 19, 2016, Morgan Stanley said it Upgrades its rating on Shopify Inc. According to the research note, Morgan Stanley Lowers the price target to $34 per share from a prior target of $37. The shares have been rated ‘Overweight’ by the firm.

Shopify Inc (SHOP) made into the market gainers list on Mondays trading session with the shares advancing 1.81% or 0.56 points. Due to strong positive momentum, the stock ended at $31.53, which is also near the day’s high of $31.95. The stock began the session at $31.07 and the volume stood at 6,21,052 shares. The 52-week high of the shares is $42.13 and the 52 week low is $18.48. The company has a current market capitalization of $2,533 M and it has 8,03,41,012 shares in outstanding.

Shopify Inc(SHOP) last announced its earnings results on Feb 17, 2016 for Fiscal Year 2015 and Q4.Earnings per share were $-0.01.

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.

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