Shopify (NYSE:SHOP) Price Target Raised to $135.00 at Robert W. Baird

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target raised by equities research analysts at Robert W. Baird from $126.00 to $135.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s target price suggests a potential upside of 5.76% from the stock’s previous close.

A number of other research firms also recently weighed in on SHOP. Morgan Stanley lifted their target price on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company boosted their price target on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Barclays boosted their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday. Moffett Nathanson boosted their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, The Goldman Sachs Group boosted their price target on Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.14.

Shopify Stock Up 5.9 %

SHOP opened at $127.65 on Wednesday. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $128.00. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market capitalization of $164.93 billion, a P/E ratio of 119.30, a P/E/G ratio of 2.49 and a beta of 2.47. The stock has a fifty day moving average of $111.43 and a 200-day moving average of $92.02.

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

Hedge Funds Weigh In On Shopify

Several institutional investors have recently added to or reduced their stakes in SHOP. Allianz SE acquired a new position in shares of Shopify during the fourth quarter worth approximately $27,000. PFG Private Wealth Management LLC raised its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC raised its position in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares during the period. Brooklyn Investment Group acquired a new position in shares of Shopify during the third quarter worth approximately $33,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of 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 period. 69.27% of the stock is 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.