Shopify Inc (SHOP) is Initiated by Macquarie to Outperform, Price Target at $37

Shopify Inc (SHOP) was Initiated by Macquarie to “Outperform” and the brokerage firm has set the Price Target at $37. Macquarie advised their investors in a research report released on May 18, 2016.

Many Wall Street Analysts have commented on Shopify Inc. Company shares were Reiterated by Wedbush on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $27 .Company shares were Reiterated by RBC Capital Mkts on May 2, 2016 to “Outperform”, Firm has raised the Price Target to $ 37 from a previous price target of $32 .Shopify Inc was Upgraded by Pacific Crest to ” Overweight” on Mar 8, 2016.

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 closed down -0.13 points or -0.49% at $26.16 with 5,20,769 shares getting traded on Monday. Post opening the session at $26.44, the shares hit an intraday low of $26.01 and an intraday high of $26.6 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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