Shopify (NYSE:SHOP) Price Target Raised to $150.00 at Deutsche Bank Aktiengesellschaft

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective boosted by Deutsche Bank Aktiengesellschaft from $125.00 to $150.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the software maker’s stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group upped their price target on shares of Shopify from $135.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. ATB Capital increased their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research report on Wednesday. Piper Sandler boosted their price target on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Barclays boosted their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday. One 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.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Price Performance

SHOP stock opened at $120.46 on Wednesday. The company’s 50-day moving average price is $111.29 and its two-hundred day moving average price is $91.82. Shopify has a 12 month low of $48.56 and a 12 month high of $125.95. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market cap of $155.65 billion, a P/E ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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 16.84% and a return on equity of 11.60%. On average, analysts anticipate that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Shopify by 73.5% in the 3rd quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares in the last quarter. CWM LLC grew its position in Shopify by 14.9% in the 3rd quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after purchasing an additional 1,832 shares in the last quarter. Creative Planning increased its stake in Shopify by 4.4% in the 3rd quarter. Creative Planning now owns 392,415 shares of the software maker’s stock valued at $31,448,000 after buying an additional 16,375 shares during the last quarter. NBC Securities Inc. lifted its position in shares of Shopify by 32.2% during the 3rd quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock worth $705,000 after buying an additional 2,146 shares in the last quarter. Finally, Prospect Financial Services LLC purchased a new position in shares of Shopify in the 3rd quarter worth approximately $288,000. 69.27% of the stock is owned by hedge funds and other 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.