Piper Sandler Boosts Shopify (NYSE:SHOP) Price Target to $104.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Piper Sandler from $94.00 to $104.00 in a report issued on Wednesday, MarketBeat.com reports. They currently have a neutral rating on the software maker’s stock.

Several other equities research analysts have also recently commented on the stock. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. KeyCorp increased their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Finally, Citigroup lifted their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $126.21.

Shopify Trading Up 0.6 %

Shares of NYSE:SHOP opened at $128.36 on Wednesday. The company has a 50 day moving average of $111.70 and a 200-day moving average of $92.27. 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 firm has a market cap of $165.85 billion, a P/E ratio of 119.96, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify has a twelve month low of $48.56 and a twelve month high of $128.57.

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

Institutional Trading of Shopify

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Rock Wealth Management LLC bought a new stake in shares of Shopify during the 4th quarter worth $659,000. Mercer Global Advisors Inc. ADV grew its position in shares of Shopify by 2.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 49,442 shares of the software maker’s stock valued at $5,257,000 after purchasing an additional 1,372 shares during the last quarter. Keel Point LLC lifted its position in shares of Shopify by 14.2% during the 4th quarter. Keel Point LLC now owns 3,020 shares of the software maker’s stock worth $321,000 after purchasing an additional 375 shares during the last quarter. Davidson Kahn Capital Management LLC bought a new stake in Shopify during the 4th quarter valued at approximately $223,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Shopify by 3.0% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,606,525 shares of the software maker’s stock valued at $170,889,000 after buying an additional 46,604 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.