Shopify Inc (SHOP) is Initiated by Goldman to Buy, Price Target at $53

Shopify Inc (SHOP) was Initiated by Goldman to “Buy” and the brokerage firm has set the Price Target at $53. Goldman advised their investors in a research report released on Oct 4, 2016.

Many Wall Street Analysts have commented on Shopify Inc. Shopify Inc was Initiated by CIBC to “Sector Outperform” on Sep 29, 2016. Shopify Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Sep 28, 2016. Credit Suisse Resumed Shopify Inc on Aug 18, 2016 to “Outperform”, Price Target of the shares are set at $46.

On the company’s financial health, Shopify Inc reported $-0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $-0.08. The company had revenue of $86.60 million for the quarter, compared to analysts expectations of $80.62 million. The company’s revenue was up 92.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.03 EPS.

Shopify Inc closed down -0.04 points or -0.09% at $42.92 with 3,84,818 shares getting traded on Friday. Post opening the session at $43.03, the shares hit an intraday low of $42.77 and an intraday high of $43.39 and the price fluctuated in this range throughout the day.Shares ended Friday 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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