Evercore ISI Forecasts Strong Price Appreciation for Shopify (NYSE:SHOP) Stock

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price increased by stock analysts at Evercore ISI from $125.00 to $140.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Evercore ISI’s target price would suggest a potential upside of 12.92% from the company’s current price.

A number of other brokerages have also recently weighed in on SHOP. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Oppenheimer upped their price objective on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price target on shares of Shopify in a research note on Wednesday, January 22nd. Finally, Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $108.23.

Shopify Stock Up 3.4 %

Shares of NYSE SHOP opened at $123.98 on Wednesday. Shopify has a 1 year low of $48.56 and a 1 year high of $125.95. The company has a market capitalization of $160.19 billion, a price-to-earnings ratio of 115.87, 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 business has a 50-day moving average of $111.29 and a two-hundred day moving average of $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results 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 return on equity of 11.60% and a net margin of 16.84%. On average, analysts forecast that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sava Infond d.o.o. acquired a new stake in shares of Shopify during the fourth quarter worth approximately $117,000. Korea Investment CORP boosted its stake in Shopify by 0.6% during the 4th quarter. Korea Investment CORP now owns 1,003,030 shares of the software maker’s stock valued at $106,695,000 after acquiring an additional 6,014 shares during the last quarter. Mufg Securities Canada LTD. grew its holdings in Shopify by 72.4% during the 4th quarter. Mufg Securities Canada LTD. now owns 1,852,031 shares of the software maker’s stock worth $196,984,000 after acquiring an additional 777,696 shares in the last quarter. Mark Sheptoff Financial Planning LLC increased its position 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 worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Shopify in the 4th quarter valued at about $160,000. 69.27% of the stock is currently 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.