Shopify (NYSE:SHOP) Given a $145.00 Price Target by Royal Bank of Canada Analysts

Shopify (NYSE:SHOP) (TSE:SHOP) received a $145.00 price objective from analysts at Royal Bank of Canada in a research report issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 39.81% from the stock’s previous close.

Several other equities analysts have also commented on SHOP. New Street Research initiated coverage on shares of Shopify in a report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price objective on the stock. The Goldman Sachs Group boosted 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, February 12th. Robert W. Baird raised their price objective on Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Citigroup boosted their target price on Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Up 1.8 %

Shares of NYSE:SHOP traded up $1.86 during trading on Friday, reaching $103.71. 5,357,335 shares of the company’s stock traded hands, compared to its average volume of 8,599,281. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The company has a 50-day simple moving average of $110.03 and a 200-day simple moving average of $99.12. The firm has a market cap of $134.29 billion, a PE ratio of 66.91, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly 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 net margin of 22.74% and a return on equity of 12.00%. On average, equities research analysts forecast that Shopify will post 1.12 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital World Investors raised its position in Shopify by 0.9% in the 4th quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after buying an additional 496,982 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after purchasing an additional 781,162 shares during the last quarter. FMR LLC lifted its position in shares of Shopify by 3.4% in the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock worth $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Capital International Investors boosted its holdings in Shopify by 2.7% during the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock worth $3,883,039,000 after purchasing an additional 968,026 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

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.