Shopify Inc. (NYSE:SHOP) Given Average Rating of “Moderate Buy” by Brokerages

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has received a consensus recommendation of “Moderate Buy” from the forty analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, twenty-four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $126.31.

A number of equities research analysts recently weighed in on SHOP shares. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 price target on shares of Shopify in a research note on Wednesday, February 12th. Robert W. Baird increased their price target on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial lifted their price objective on Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday, February 11th. Finally, Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Monday, February 10th.

Shopify Price Performance

NYSE SHOP opened at $96.51 on Monday. The stock’s 50 day simple moving average is $110.21 and its 200 day simple moving average is $100.55. Shopify has a one year low of $48.56 and a one year high of $129.38. The firm has a market cap of $124.96 billion, a PE ratio of 62.27, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

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 the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, equities analysts expect that Shopify will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Large investors have recently modified their holdings of the company. LRI Investments LLC lifted its stake in Shopify by 9.8% in the fourth quarter. LRI Investments LLC now owns 889 shares of the software maker’s stock valued at $94,000 after buying an additional 79 shares during the period. Tidemark LLC boosted its stake in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after acquiring an additional 90 shares in the last quarter. Howland Capital Management LLC grew its holdings in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont increased its stake in Shopify by 9.9% in the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares in the last quarter. Finally, First United Bank & Trust raised its holdings in shares of Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the period. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.