Shopify (NYSE:SHOP) Price Target Raised to $150.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by equities research analysts at DA Davidson from $130.00 to $150.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the software maker’s stock. DA Davidson’s target price would indicate a potential upside of 17.51% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Wedbush reissued an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 target price on shares of Shopify in a report on Wednesday. Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. UBS Group raised their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their target price on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.14.

Shopify Price Performance

Shares of NYSE SHOP opened at $127.65 on Wednesday. Shopify has a twelve month low of $48.56 and a twelve month high of $128.00. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $111.43 and its 200-day moving average price is $92.02. The company has a market capitalization of $164.93 billion, a PE ratio of 119.30, a PEG ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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 11.60% and a net margin of 16.84%. On average, equities analysts anticipate that Shopify will post 0.91 EPS for the current year.

Institutional Trading of Shopify

A number of hedge funds and other institutional investors have recently made changes to their positions in SHOP. GAMMA Investing LLC boosted its holdings in Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after purchasing an additional 253 shares during the period. CWM LLC lifted its holdings in Shopify by 14.9% in the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after purchasing an additional 1,832 shares during the period. Creative Planning lifted its holdings in Shopify by 4.4% in the third quarter. Creative Planning now owns 392,415 shares of the software maker’s stock worth $31,448,000 after purchasing an additional 16,375 shares during the period. NBC Securities Inc. lifted its holdings in Shopify by 32.2% in the third quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock worth $705,000 after purchasing an additional 2,146 shares during the period. Finally, Prospect Financial Services LLC bought a new stake in Shopify in the third quarter worth about $288,000. 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.