Shopify (NYSE:SHOP) PT Set at $145.00 by Royal Bank of Canada

Royal Bank of Canada set a $145.00 target price on Shopify (NYSE:SHOP) (TSE:SHOP) in a research report report published on Friday morning,BayStreet.CA reports. The firm currently has an outperform rating on the software maker’s stock.

Several other equities research analysts have also recently issued reports on SHOP. DA Davidson lifted their price objective on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. JMP Securities reiterated a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Evercore ISI lifted their price objective on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. New Street Research assumed coverage on shares of Shopify in a research note on Friday, January 10th. They issued a “neutral” rating and a $115.00 target price on the stock. Finally, Canaccord Genuity Group raised their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Shopify Stock Up 2.4 %

NYSE:SHOP opened at $104.29 on Friday. Shopify has a 52 week low of $48.56 and a 52 week high of $129.38. The stock has a market capitalization of $135.04 billion, a PE ratio of 67.29, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60. The stock’s 50-day moving average price is $110.04 and its 200-day moving average price is $99.33.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data 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 return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts expect that Shopify will post 1.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shopify

Several institutional investors have recently modified their holdings of SHOP. Allianz SE acquired a new position in shares of Shopify in the fourth quarter worth $27,000. PFG Private Wealth Management LLC grew its stake in shares of Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify during the fourth quarter worth $30,000. Mark Sheptoff Financial Planning LLC grew its stake in shares of Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Shopify during the third quarter worth $33,000. 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.