Shopify (NYSE:SHOP) Price Target Raised to $144.00 at Morgan Stanley

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Morgan Stanley from $126.00 to $144.00 in a research note released on Wednesday, MarketBeat Ratings reports. Morgan Stanley currently has an overweight rating on the software maker’s stock.

Other equities research analysts also recently issued research reports about the company. Truist Financial increased their price objective on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday. New Street Research assumed coverage on Shopify in a research report on Friday, January 10th. They issued a “neutral” rating and a $115.00 price target for the company. UBS Group boosted their price objective on Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday. Piper Sandler raised their target price on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Evercore ISI boosted their price target on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Price Performance

NYSE:SHOP opened at $120.46 on Wednesday. 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 business’s 50-day moving average price is $111.29 and its 200 day moving average price is $91.82. Shopify has a 52-week low of $48.56 and a 52-week high of $125.95. The firm has a market cap of $155.65 billion, a P/E ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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 return on equity of 11.60% and a net margin of 16.84%. As a group, sell-side analysts predict that Shopify will post 0.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

Large investors have recently added to or reduced their stakes in the company. Tidemark LLC grew its holdings in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after purchasing an additional 90 shares in the last quarter. Howland Capital Management LLC lifted its position in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont boosted its stake in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after buying an additional 100 shares in the last quarter. First United Bank & Trust increased its holdings in Shopify by 2.2% in the 4th quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares during the period. Finally, Mark Sheptoff Financial Planning LLC raised its stake 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 valued at $32,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds 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.