Shopify’s (SHOP) “Outperform” Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a research note issued to investors on Tuesday morning, Marketbeat reports. They currently have a $125.00 target price on the software maker’s stock.

SHOP has been the topic of several other reports. Truist Financial upped their target price on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Shopify in a research report on Wednesday, January 22nd. Moffett Nathanson increased their price target on shares of Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $125.14.

Shopify Price Performance

Shares of SHOP opened at $127.65 on Tuesday. Shopify has a 1-year low of $48.56 and a 1-year high of $128.00. The stock has a market cap of $164.93 billion, a PE ratio of 119.30, a price-to-earnings-growth 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. The firm has a fifty day moving average price of $111.43 and a 200 day moving average price of $92.02.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its earnings results 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 net margin of 16.84% and a return on equity of 11.60%. As a group, sell-side analysts anticipate that Shopify will post 0.91 EPS for the current year.

Institutional Trading of Shopify

A number of hedge funds have recently bought and sold shares of the company. Allianz SE purchased a new position in Shopify in the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC boosted its position in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its holdings in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC bought a new stake in Shopify in the fourth quarter worth $39,000. Finally, Mather Group LLC. boosted its holdings in Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock worth $43,000 after acquiring an additional 184 shares in the last quarter. Institutional investors 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.