Shopify (NYSE:SHOP) Price Target Raised to $135.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target upped by The Goldman Sachs Group from $88.00 to $135.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the software maker’s stock.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Oppenheimer increased their price target on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday. Mizuho boosted their price objective on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America upgraded shares of Shopify from a “neutral” rating to a “buy” rating and raised their price target for the company from $78.00 to $82.00 in a research note on Tuesday, July 16th. Finally, UBS Group raised their price objective on shares of Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.95.

Shopify Stock Performance

NYSE:SHOP opened at $108.48 on Wednesday. The firm’s fifty day simple moving average is $81.97 and its 200 day simple moving average is $71.02. The company has a current ratio of 7.10, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. Shopify has a twelve month low of $48.56 and a twelve month high of $115.62. The firm has a market capitalization of $139.98 billion, a price-to-earnings ratio of 101.38, a PEG ratio of 3.71 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Shopify had a return on equity of 11.60% and a net margin of 16.84%. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. As a group, equities research analysts expect that Shopify will post 0.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several hedge funds have recently added to or reduced their stakes in SHOP. Nations Financial Group Inc. IA ADV increased its stake in shares of Shopify by 4.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock worth $381,000 after purchasing an additional 209 shares during the period. Silvercrest Asset Management Group LLC lifted its position in Shopify by 735.0% during the first quarter. Silvercrest Asset Management Group LLC now owns 52,928 shares of the software maker’s stock worth $4,084,000 after purchasing an additional 46,589 shares during the period. Baker Avenue Asset Management LP lifted its holdings in shares of Shopify by 10.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 217,000 shares of the software maker’s stock worth $17,390,000 after acquiring an additional 21,265 shares during the period. Atria Investments Inc boosted its stake in Shopify by 16.8% in the third quarter. Atria Investments Inc now owns 158,383 shares of the software maker’s stock valued at $12,693,000 after buying an additional 22,832 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Shopify by 3.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 190,371 shares of the software maker’s stock valued at $15,079,000 after purchasing an additional 7,009 shares during the last quarter. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.