Shopify (NYSE:SHOP) Price Target Raised to $125.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by UBS Group from $110.00 to $125.00 in a research report report published on Wednesday morning, Marketbeat reports. UBS Group currently has a neutral rating on the software maker’s stock.

A number of other research analysts have also recently commented on the company. Canaccord Genuity Group boosted their price objective on Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Truist Financial increased their price objective on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday. Piper Sandler boosted their target price on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Citigroup raised their price target on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and an average target price of $126.21.

Shopify Stock Performance

Shares of NYSE:SHOP opened at $128.36 on Wednesday. The business has a 50-day moving average of $111.70 and a two-hundred day moving average of $92.27. The firm has a market capitalization of $165.85 billion, a PE ratio of 119.96, 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 12 month low of $48.56 and a 12 month high of $128.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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, research analysts forecast that Shopify will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Shopify during the 4th quarter valued at about $1,542,262,000. Baillie Gifford & Co. lifted its stake in 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 purchasing an additional 8,131,160 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Shopify by 79.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after buying an additional 7,316,862 shares in the last quarter. FMR LLC increased its holdings in shares of Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Shopify by 631.3% during the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock valued at $474,187,000 after acquiring an additional 3,849,796 shares during the last quarter. 69.27% of the stock is 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.