Shopify (SHOP) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Shopify (NYSE: SHOP) recently:

• 10/24/2024 – Shopify had its price target raised by analysts at Scotiabank from $75.00 to $80.00. They now have a “sector perform” rating on the stock.
• 10/18/2024 – Shopify had its price target raised by analysts at Royal Bank of Canada from $85.00 to $100.00. They now have an “outperform” rating on the stock.
• 10/9/2024 – Shopify had its price target raised by analysts at Robert W. Baird from $79.00 to $90.00. They now have an “outperform” rating on the stock.
• 10/9/2024 – Shopify had its price target raised by analysts at Loop Capital from $80.00 to $90.00. They now have a “hold” rating on the stock.
• 10/7/2024 – Shopify had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $70.00 price target on the stock.
• 10/1/2024 – Shopify had its price target raised by analysts at Barclays PLC from $65.00 to $70.00. They now have an “equal weight” rating on the stock.
• 9/30/2024 – Shopify had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $70.00 price target on the stock.
• 9/30/2024 – Shopify had its price target raised by analysts at Citigroup Inc. from $90.00 to $103.00. They now have a “buy” rating on the stock.
• 9/23/2024 – Shopify had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $70.00 price target on the stock.
• 9/17/2024 – Shopify was upgraded by analysts at Redburn Atlantic from a “neutral” rating to a “buy” rating. They now have a $99.00 price target on the stock.
• 9/11/2024 – Shopify had its price target raised by analysts at Wells Fargo & Company from $80.00 to $90.00. They now have an “overweight” rating on the stock.
• 9/10/2024 – Shopify had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $80.00 price target on the stock.
• 9/5/2024 – Shopify is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $70.00 price target on the stock.
• 8/29/2024 – Shopify had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $67.00 price target on the stock.

Shopify Price Performance

Shopify stock traded up $0.17 during mid-day trading on Thursday, hitting $79.83. 3,980,331 shares of the company traded hands, compared to its average volume of 9,202,154. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify Inc. has a one year low of $45.50 and a one year high of $91.57. The stock has a market cap of $102.87 billion, a price-to-earnings ratio of -469.56, a price-to-earnings-growth ratio of 2.73 and a beta of 2.36. The stock has a fifty day moving average price of $76.94 and a 200-day moving average price of $69.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Shopify had a return on equity of 10.88% and a net margin of 16.40%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) EPS. On average, equities analysts predict that Shopify Inc. will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Several hedge funds have recently added to or reduced their stakes in SHOP. Massmutual Trust Co. FSB ADV lifted its stake in shares of Shopify by 7.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after acquiring an additional 129 shares during the last quarter. CVA Family Office LLC increased its stake in Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after purchasing an additional 143 shares during the period. Willis Johnson & Associates Inc. lifted its position in Shopify by 5.8% in the first quarter. Willis Johnson & Associates Inc. now owns 2,728 shares of the software maker’s stock valued at $211,000 after purchasing an additional 149 shares during the last quarter. Valley National Advisers Inc. boosted its stake in shares of Shopify by 11.4% during the first quarter. Valley National Advisers Inc. now owns 1,482 shares of the software maker’s stock valued at $114,000 after purchasing an additional 152 shares during the period. Finally, Wolff Wiese Magana LLC increased its position in shares of Shopify by 5.4% in the third quarter. Wolff Wiese Magana LLC now owns 2,974 shares of the software maker’s stock valued at $238,000 after acquiring an additional 152 shares during the period. 69.27% of the stock is owned by institutional investors.

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.