Shopify (NYSE:SHOP) Price Target Raised to $145.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Royal Bank of Canada from $130.00 to $145.00 in a research report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the software maker’s stock.

Several other equities research analysts also recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a research note on Tuesday. Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research note on Monday, February 10th. Wells Fargo & Company increased their price target on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Mizuho lifted their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, New Street Research assumed 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. One 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 assigned a strong buy rating to the stock. According to MarketBeat, Shopify currently has an average rating of “Moderate Buy” and a consensus price target of $126.21.

Shopify Stock Up 0.6 %

SHOP stock opened at $128.36 on Wednesday. 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 stock has a market capitalization of $165.85 billion, a P/E ratio of 119.96, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $128.57. The business has a 50-day moving average of $111.70 and a 200-day moving average of $92.27.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS 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, sell-side analysts anticipate that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Shopify in the 4th quarter valued at about $1,542,262,000. Baillie Gifford & Co. increased its stake in shares of Shopify by 14.7% in the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of 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 during the period. FMR LLC lifted its stake in shares of Shopify by 16.1% during the 3rd 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. grew its stake in Shopify by 631.3% in the 4th quarter. Alliancebernstein L.P. now owns 4,459,580 shares of the software maker’s stock valued at $474,187,000 after buying an additional 3,849,796 shares in the last quarter. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.