Shopify (NYSE:SHOP) Price Target Raised to $145.00 at Royal Bank of Canada

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective boosted by Royal Bank of Canada from $130.00 to $145.00 in a research note issued on Wednesday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s target price points to a potential upside of 13.60% from the company’s current price.

Several other research firms have also commented on SHOP. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 price objective on shares of Shopify in a research report on Wednesday. Oppenheimer lifted their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird lifted their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Citigroup lifted their price target on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Stock Performance

SHOP opened at $127.65 on Wednesday. The stock has a market capitalization of $164.93 billion, a price-to-earnings ratio of 119.30, a PEG ratio of 2.49 and a beta of 2.47. The company has a fifty day moving average of $111.43 and a 200 day moving average of $92.02. 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.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate 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, sell-side analysts forecast that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allianz SE bought a new position in shares of Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Shopify during the 4th quarter worth approximately $39,000. Finally, Mather Group LLC. raised its stake in shares of Shopify by 84.8% during the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in 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.