Shopify (SHOP) – Analysts’ Recent Ratings Updates

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

• 11/13/2024 – Shopify had its price target raised by analysts at Wells Fargo & Company from $90.00 to $120.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at KeyCorp from $80.00 to $130.00. They now have an “overweight” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at Royal Bank of Canada from $100.00 to $130.00. They now have an “outperform” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at Oppenheimer Holdings Inc. from $90.00 to $130.00. They now have an “outperform” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at Robert W. Baird from $90.00 to $126.00. They now have an “outperform” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at Mizuho from $68.00 to $105.00. They now have a “neutral” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at Piper Sandler from $67.00 to $94.00. They now have a “neutral” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at JMP Securities from $80.00 to $120.00. They now have a “market outperform” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at Truist Financial Co. from $65.00 to $110.00. They now have a “hold” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at Barclays PLC from $70.00 to $93.00. They now have an “equal weight” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at The Goldman Sachs Group, Inc. from $88.00 to $135.00. They now have a “buy” rating on the stock.
• 11/13/2024 – Shopify had its price target raised by analysts at Canaccord Genuity Group Inc. from $80.00 to $125.00. They now have a “buy” rating on the stock.
• 11/12/2024 – Shopify had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $115.00 price target on the stock, up previously from $72.00.
• 11/12/2024 – Shopify was downgraded by analysts at Atb Cap Markets from a “strong-buy” rating to a “hold” rating.
• 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.

Shopify Stock Performance

Shares of Shopify stock traded down $6.01 during trading on Thursday, hitting $109.08. 12,831,217 shares of the stock were exchanged, compared to its average volume of 9,354,658. Shopify Inc. has a 1-year low of $48.56 and a 1-year high of $115.62. The company has a current ratio of 7.32, a quick ratio of 7.32 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $140.76 billion, a price-to-earnings ratio of 101.94, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. The company has a fifty day moving average price of $80.36 and a 200-day moving average price of $70.50.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. Shopify had a return on equity of 11.94% and a net margin of 16.84%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. As a group, equities analysts predict that Shopify Inc. will post 0.76 EPS for the current fiscal year.

Institutional Trading of Shopify

Several institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. increased its position in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the period. Capital World Investors lifted its stake in Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after acquiring an additional 10,340,040 shares during the period. Vanguard Group Inc. raised its holdings in Shopify by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock worth $3,309,154,000 after purchasing an additional 713,064 shares in the last quarter. FMR LLC raised its position in Shopify by 16.1% in the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Shopify by 21.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after purchasing an additional 5,982,434 shares during the last quarter. Institutional investors own 69.27% of the company’s stock.

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.