Shopify Inc. (SHOP) Surged On Report Of Potential Amazon Deal

Shopify Inc. (SHOP) Surged On Report Of Potential Amazon Deal

Equities research analysts predict that Shopify Inc. will post ($0.14) earnings per share for the current fiscal year. (NYSE:SHOP) traded down 1.18% during midday trading on Thursday, hitting $40.32. Rosenblatt Securities now has a $50.00 price target on the stock. The new service also enables Shopify store owners to manage their product catalog for their e-commerce website, retail store, Amazon store, and other sales channels all in one place.

"This previously reported integration, which was made generally accessible in December, is created to seamlessly connect Shopify store owners to the millions of consumers searching for products to buy on Amazon". BTIG Research assumed coverage on shares of Shopify in a report on Wednesday, November 16th. Shopify Inc. The stock gained a consensus recommendation of 1.72 on Zacks Investment Research where the scale runs from 1 to 5, 1 representing Strong buy and 5 showing Strong Sell. Finally, Pacific Crest reissued a "buy" rating on shares of Shopify in a report on Friday, October 7th. The stock surged past resistance and has set a new high for the year. The stock now has an average rating of Buy and an average price target of $47.44. To take look on ration of tradable shares being shorted in market, float short ration was 1.23%, as compared to sentiment indicator; Short Ratio was 1.95. The Stock now has the market capitalization of $4.26 Billion, P/E (price to earnings ttm) of 0 and Weekly volatility of 4.09% and monthly volatility of 3.39% respectively. The firm has a 50-day moving average price of $42.09 and a 200-day moving average price of $39.43.

Shopify ended the day with a gain of 3.54 at $47.68, with volume at over a 4-month high.

Shopify (NYSE:SHOP) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. Shopify had a negative net margin of 9.96% and a negative return on equity of 13.30%. The business earned $99.60 million during the quarter, compared to analyst estimates of $94.62 million. Shopify's revenue was up 88.6% compared to the same quarter previous year. Shopify Inc. (NYSE:SHOP)'s EPS growth this year is -1.60% and the trailing 12-month EPS is $-0.40.

TRADEMARK VIOLATION NOTICE: This piece of content was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another website, it was stolen and republished in violation of United States & worldwide copyright & trademark legislation. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2017/01/06/shopify-inc-shop-given-buy-rating-at-rosenblatt-securities/. The firm owned 954,041 shares of the company's stock after buying an additional 492,619 shares during the period. Advisor Group Inc. purchased a new stake in Shopify during the third quarter valued at about $109,000. DIAM Co. Ltd. bought a new stake in Shopify during the third quarter worth approximately $158,000. Bank of Montreal Can raised its stake in Shopify by 0.6% in the third quarter. Over the last five trading sessions, the stock has moved 10.32%.

Shopify, a cloud-based multichannel commerce platform, developed an integration that enables its merchants selling in US dollars to add the Amazon sales channel to their Shopify account.

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