Is It Right Time to Be Bullish on Shopify Inc. (NYSE:SHOP), MEDNAX Inc. (NYSE:MD)?

The shares of Shopify Inc. (NYSE:SHOP) has been pegged with a rating of Overweight by Piper Sandler in its latest research note that was published on June 15, 2020. The Technology company has also assigned a $843 price target. Piper Sandler wasn’t the only research firm that published a report of Shopify Inc., with other equities research analysts also giving their opinion on the stock. Canaccord Genuity advised investors in its research note published on May 21, 2020, to Hold the SHOP stock while also putting a $700 price target. The stock had earned Equal Weight rating from Wells Fargo Markets when it published its report on May 07, 2020. That day the Wells Fargo set price target on the stock to $700. Canaccord Genuity was of a view that SHOP is Hold in its latest report on April 30, 2020. Raymond James thinks that SHOP is worth Mkt Perform rating.

Amongst the analysts that rated the stock, 2 have recommended investors to sell it, 19 believe it has the potential for further growth, thus rating it as Hold while 9 advised investors to purchase the stock. The consensus currently stands at a Hold while its average price target is $728.13. The price of the stock the last time has raised by 185.94% from its 52-Week high price while it is -4.57% than its 52-Week low price. A look at the stock’s other technical shows that its 14-day RSI now stands at 64.99.

The shares of the company added by 8.47% during the trading session on Monday, reaching a low of $769.865 while ending the day at $805.47. During the trading session, a total of 4.05 million shares were traded which represents a -11.06% decline from the average session volume which is 3.65 million shares. SHOP had ended its last session trading at $742.58. Shopify Inc. debt-to-equity ratio currently stands at 0.00, while its quick ratio hovers at 9.50 SHOP 52-week low price stands at $281.69 while its 52-week high price is $844.00.

The company in its last quarterly report recorded -$0.23 earnings per share which is above the predicted by most analysts. The Shopify Inc. generated 969.36 million in revenue during the last quarter. In the second quarter last year, the firm recorded $0.07 earnings per share. Compared to the same quarter last year, the firm’s revenue was down by -13.04%. Shopify Inc. has the potential to record -1.63 EPS for the current fiscal year, according to equities analysts.

Investment analysts at Citigroup published a research note on January 03, 2020 where it informed investors and clients that MEDNAX Inc. (NYSE:MD) is now rated as Neutral. Their price target on the stock stands at $29. Stifel also rated MD as Upgrade on December 12, 2019, with its price target of $33 suggesting that MD could surge by 4.86% from its current share price. Even though the stock has been trading at $16.57/share, analysts expect it to surge by 6.22% to reach $18.50/share. It started the day trading at $17.96 and traded between $15.6911 and $17.60 throughout the trading session.

A look at its technical shows that MD’s 50-day SMA is 14.43 while its 200-day SMA stands at 20.60. The stock has a high of $28.66 for the year while the low is $7.37. The stock, however, witnessed a rise in its short on 05/29/20. Compared to previous close which recorded 4.44 M shorted shares, the short percentage went lower by -13.16%, as 3.86M SHOP shares were shorted. At the moment, only 4.72% of MEDNAX Inc. shares were sold short. The company’s average trading volume currently stands at 1.38M shares, which means that the short-interest ratio is just 2.80 days. Over the past seven days, the company moved, with its shift of -11.78%. Looking further, the stock has raised 57.14% over the past 90 days while it lost -37.59% over the last six months.

The change in the stock’s fortunes has led to several institutional investors altering their holdings of the stock. The ArrowMark Colorado Holdings LLC bought more MD shares, increasing its portfolio by 55.48% during the last quarter. This move now sees The ArrowMark Colorado Holdings LLC purchasing 2,969,803 shares in the last quarter, thus it now holds 8,322,322 shares of MD, with a total valuation of $129,245,661. Starboard Value LP meanwhile bought more MD shares in the recently filed quarter, changing its stake to $127,392,590 worth of shares.

Similarly, The Vanguard Group, Inc. increased its MEDNAX Inc. shares by 4.59% during the recently filed quarter. After buying 7,789,200 shares in the last quarter, the firm now controls 341,668 shares of MEDNAX Inc. which are valued at $120,966,276. In the same vein, BlackRock Fund Advisors increased its MEDNAX Inc. shares by during the most recent reported quarter. The firm sold 65,801 shares during the quarter which increased its stakes to 7,203,620 shares and is now valued at $111,872,219. Following these latest developments, around 3.70% of MEDNAX Inc. stocks are owned by institutional investors and hedge funds.