Shopify (NYSE:SHOP) Price Target Raised to $100.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target upped by Barclays from $93.00 to $100.00 in a research note issued to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the software maker’s stock.

A number of other research firms have also commented on SHOP. Piper Sandler raised their price target on shares of Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Shopify from $88.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Robert W. Baird increased their price target on Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. DZ Bank cut Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.21.

Shopify Trading Up 0.6 %

Shares of SHOP stock opened at $128.36 on Wednesday. Shopify has a 12-month low of $48.56 and a 12-month high of $128.57. The company has a market capitalization of $165.85 billion, a PE ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The firm has a 50 day moving average price of $111.70 and a two-hundred day moving average price of $92.27. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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

Institutional Trading of Shopify

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC acquired a new stake in shares of Shopify during the fourth quarter worth $132,323,000. Swiss National Bank raised its position in shares of Shopify by 0.9% in the 3rd quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock worth $293,507,000 after acquiring an additional 33,300 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its position in shares of Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after purchasing an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Shopify by 29.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after purchasing an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in Shopify by 26.4% in the third quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after purchasing an additional 7,027 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.