Wedbush Upgrades Shopify (NYSE:SHOP) to Outperform

Wedbush upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a neutral rating to an outperform rating in a research report report published on Monday, MarketBeat Ratings reports. Wedbush currently has $125.00 price target on the software maker’s stock, up from their prior price target of $115.00. Wedbush also issued estimates for Shopify’s Q2 2025 earnings at $0.22 EPS.

A number of other brokerages also recently commented on SHOP. Piper Sandler upped their target price on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Moffett Nathanson upped their price objective on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Wells Fargo & Company increased their price target on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, KeyCorp lifted their price objective on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus target price of $99.88.

Shopify Trading Up 0.9 %

SHOP opened at $107.74 on Monday. Shopify has a one year low of $48.56 and a one year high of $120.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The business has a 50 day simple moving average of $106.27 and a two-hundred day simple moving average of $83.83. The firm has a market capitalization of $139.21 billion, a price-to-earnings ratio of 100.69, a PEG ratio of 2.98 and a beta of 2.46.

Institutional Investors Weigh In On Shopify

Large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. boosted its stake in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. FMR LLC grew its stake in shares of Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. Mackenzie Financial Corp increased its position in shares of Shopify by 49.9% during the 2nd quarter. Mackenzie Financial Corp now owns 6,315,028 shares of the software maker’s stock valued at $417,386,000 after purchasing an additional 2,102,939 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Shopify by 54.2% in the 2nd quarter. Clearbridge Investments LLC now owns 4,714,691 shares of the software maker’s stock worth $311,404,000 after purchasing an additional 1,657,251 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Shopify by 28.0% in the third quarter. National Bank of Canada FI now owns 7,408,880 shares of the software maker’s stock worth $593,588,000 after buying an additional 1,621,981 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

About Shopify

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.