Shopify (NYSE:SHOP) Price Target Raised to $140.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target raised by Canaccord Genuity Group from $125.00 to $140.00 in a research report released on Wednesday, Marketbeat reports. They currently have a buy rating on the software maker’s stock.

SHOP has been the subject of several other reports. New Street Research began coverage on Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research report on Thursday, December 12th. Mizuho raised their target price on shares of Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Robert W. Baird upped their price target on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays raised their price objective on shares of Shopify from $70.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Trading Down 2.5 %

Shares of SHOP stock opened at $120.46 on Wednesday. The business’s fifty day moving average price is $111.29 and its 200 day moving average price is $91.82. The firm has a market capitalization of $155.65 billion, a PE ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify has a 1-year low of $48.56 and a 1-year high of $125.95.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, sell-side analysts forecast that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Trading of Shopify

Several large investors have recently modified their holdings of the business. Allianz SE acquired a new position in shares of Shopify in the fourth quarter worth about $27,000. PFG Private Wealth Management LLC increased its position in shares of 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 during the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in shares of 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 in the last quarter. Brooklyn Investment Group bought a new position in shares of Shopify during the third quarter worth about $33,000. Finally, Rosenberg Matthew Hamilton grew its stake in Shopify by 41.3% in the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.