JMP Securities Keeps Their Hold Rating on Shopify (SHOP)

JMP Securities analyst Andrew Boone maintained a Hold rating on Shopify (SHOPResearch Report) yesterday. The company’s shares closed last Wednesday at $35.24, close to its 52-week low of $29.72.

According to, Boone is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -28.0% and a 15.1% success rate. Boone covers the Technology sector, focusing on stocks such as DoubleVerify Holdings, Zillow Group Class A, and Fiverr International.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shopify with a $68.90 average price target, which is an 119.0% upside from current levels. In a report issued on July 13, Roth Capital also maintained a Hold rating on the stock with a $40.00 price target.

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Shopify’s market cap is currently $39.83B and has a P/E ratio of 222.05.

Based on the recent corporate insider activity of 224 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SHOP in relation to earlier this year.

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Founded in 2004, Canada-based Shopify, Inc. operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops.

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