Shopify (NYSE:SHOP) Trading Up 1.9% – Here’s What Happened

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price rose 1.9% during trading on Thursday . The company traded as high as $104.19 and last traded at $103.43. Approximately 2,918,835 shares were traded during trading, a decline of 66% from the average daily volume of 8,569,427 shares. The stock had previously closed at $101.54.

Analyst Ratings Changes

SHOP has been the subject of a number of research reports. Jefferies Financial Group lifted their target price on Shopify from $110.00 to $130.00 and gave the stock a “hold” rating in a report on Tuesday, February 18th. Evercore ISI lifted their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 target price on shares of Shopify in a report on Thursday, December 12th. Wedbush reissued an “outperform” rating and issued a $125.00 price target on shares of Shopify in a report on Tuesday, February 11th. Finally, Morgan Stanley boosted their price target on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, February 12th. One equities 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.31.

Shopify Stock Down 0.3 %

The stock has a market capitalization of $131.09 billion, a PE ratio of 65.40, a PEG ratio of 4.82 and a beta of 2.60. The company has a 50-day moving average of $110.15 and a 200 day moving average of $99.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 22.74% and a return on equity of 12.00%. As a group, equities analysts predict that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Institutional Trading of Shopify

Several large investors have recently added to or reduced their stakes in the stock. Allianz SE acquired a new position in shares of Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC lifted its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify in the 4th quarter valued at $30,000. Mark Sheptoff Financial Planning LLC lifted 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 purchasing an additional 100 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Shopify in the 3rd quarter valued at $33,000. 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.