Shopify (NYSE:SHOP) Price Target Raised to $150.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price upped by Oppenheimer from $130.00 to $150.00 in a report issued on Wednesday morning, MarketBeat.com reports. They currently have an outperform rating on the software maker’s stock.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial upped their price target on shares of Shopify from $65.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Loop Capital raised Shopify from a “hold” rating to a “buy” rating and increased their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Piper Sandler boosted their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Barclays raised their price objective on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Atb Cap Markets lowered shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.21.

Shopify Trading Up 0.6 %

SHOP opened at $128.36 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 stock’s fifty day moving average is $111.70 and its two-hundred day moving average is $92.27. The company has a market capitalization of $165.85 billion, a P/E ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. Shopify has a 52 week low of $48.56 and a 52 week high of $128.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced 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 net margin of 16.84% and a return on equity of 11.60%. Analysts forecast that Shopify will post 0.91 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Shopify by 73.5% in the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker’s stock worth $48,000 after acquiring an additional 253 shares during the period. CWM LLC boosted its position in Shopify by 14.9% during the third quarter. CWM LLC now owns 14,097 shares of the software maker’s stock worth $1,130,000 after purchasing an additional 1,832 shares in the last quarter. Creative Planning grew its holdings in Shopify by 4.4% in the third quarter. Creative Planning now owns 392,415 shares of the software maker’s stock valued at $31,448,000 after purchasing an additional 16,375 shares during the period. NBC Securities Inc. raised its stake in shares of Shopify by 32.2% during the 3rd quarter. NBC Securities Inc. now owns 8,808 shares of the software maker’s stock worth $705,000 after buying an additional 2,146 shares during the period. Finally, Prospect Financial Services LLC purchased a new position in shares of Shopify during the 3rd quarter valued at approximately $288,000. 69.27% of the stock is currently 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.