Shopify (NYSE:SHOP) Price Target Raised to $130.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective boosted by TD Securities from $100.00 to $130.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the software maker’s stock. TD Securities’ price target suggests a potential upside of 6.34% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Oppenheimer increased their price target on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday. Royal Bank of Canada increased their price target on Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial increased their price target on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Finally, KeyCorp increased their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average target price of $125.14.

Shopify Trading Down 1.1 %

SHOP traded down $1.34 during mid-day trading on Wednesday, hitting $122.25. 8,897,011 shares of the stock were exchanged, compared to its average volume of 7,737,990. The firm’s fifty day moving average is $111.29 and its two-hundred day moving average is $91.82. Shopify has a 1-year low of $48.56 and a 1-year high of $125.95. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The company has a market cap of $157.96 billion, a PE ratio of 114.25, a PEG ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Equities analysts forecast that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of institutional investors have recently modified their holdings of SHOP. Allianz SE purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC boosted its stake in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter valued at approximately $33,000. Finally, Rosenberg Matthew Hamilton raised its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Company Profile

Shopify Inc, a commerce company, provides a commerce platform and services in Canada, the United States, Europe, the Middle East, Africa, the Asia Pacific, Australia, China, and Latin America. The company’s platform enables merchants to displays, manages, markets, and sells its products through various sales channels, including web and mobile storefronts, physical retail locations, pop-up shops, social media storefronts, native mobile apps, buy buttons, and marketplaces; and enables to manage products and inventory, process orders and payments, fulfill and ship orders, new buyers and build customer relationships, source products, leverage analytics and reporting, manage cash, payments and transactions, and access financing.