Barclays Initiates Coverage On Shopify Inc to Equal-Weight with Price Target $64

Barclays Initiates Coverage On Shopify Inc(SHOP). In a research note issued to the investors, the brokerage major Announces the price-target to $64 per share. The shares have been rated Equal-Weight. The rating by the stock financial advisor at Barclays was issued on Mar 28, 2017 in a research report to their Investors and Clients.

Shopify Inc (SHOP) made into the market gainers list on Fridays trading session with the shares advancing 2.07% or 1.4 points. Due to strong positive momentum, the stock ended at $68.98, which is also near the day’s high of $70.108. The stock began the session at $68.01 and the volume stood at 14,62,481 shares. The 52-week high of the shares is $71.57 and the 52 week low is $24.96. The company has a current market capitalization of $6,167 M and it has 8,94,05,480 shares in outstanding.

Shopify Inc(SHOP) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $86.65M. Analysts had an estimated revenue of $80.63M. Earnings per share were $-0.04. Analysts had estimated an EPS of $-0.08.

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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