Shopify (NYSE:SHOP) Price Target Raised to $105.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Mizuho from $68.00 to $105.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

Several other research firms have also recently issued reports on SHOP. Evercore increased their price objective on Shopify from $75.00 to $80.00 in a research report on Thursday, August 8th. Scotiabank increased their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of Shopify from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Piper Sandler boosted their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Down 0.6 %

Shares of NYSE:SHOP opened at $108.48 on Wednesday. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $115.62. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $81.97 and its 200-day simple moving average is $71.02. The company has a market cap of $139.98 billion, a price-to-earnings ratio of 101.38, a PEG ratio of 3.71 and a beta of 2.36.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. Shopify had a return on equity of 11.60% and a net margin of 16.84%. As a group, equities research analysts predict that Shopify will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

A number of large investors have recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group boosted its holdings in Shopify by 100.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after acquiring an additional 200 shares during the period. Cultivar Capital Inc. acquired a new position in shares of Shopify during the second quarter worth $33,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Shopify in the second quarter valued at $33,000. Brooklyn Investment Group acquired a new stake in Shopify during the 3rd quarter valued at $33,000. Finally, Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds 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.