Jefferies Financial Group Forecasts Strong Price Appreciation for Shopify (NYSE:SHOP) Stock

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target boosted by equities research analysts at Jefferies Financial Group from $110.00 to $130.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “hold” rating on the software maker’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 1.88% from the company’s previous close.

Several other analysts also recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. UBS Group increased their price objective on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Truist Financial boosted their target price on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Mizuho raised their price target on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Moffett Nathanson boosted their price objective on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Performance

Shares of SHOP opened at $127.60 on Tuesday. The stock has a 50 day simple moving average of $112.68 and a 200 day simple moving average of $94.46. Shopify has a 52-week low of $48.56 and a 52-week high of $129.38. The firm has a market capitalization of $164.87 billion, a PE ratio of 82.32, a P/E/G ratio of 5.06 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. Equities research analysts predict that Shopify will post 1.11 EPS for the current fiscal year.

Institutional Trading of Shopify

Several institutional investors have recently added to or reduced their stakes in SHOP. Allianz SE bought a new stake in shares of Shopify in the fourth quarter valued at about $27,000. PFG Private Wealth Management LLC raised its stake in Shopify by 3,657.1% in the 4th 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 in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Shopify in the 4th quarter worth about $30,000. Mark Sheptoff Financial Planning LLC boosted its holdings in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Finally, Brooklyn Investment Group acquired a new position in shares of Shopify during the 3rd quarter worth approximately $33,000. 69.27% of the stock is currently owned by institutional investors.

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.