Shopify (NYSE:SHOP) Upgraded at Benchmark

Benchmark upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a hold rating to a buy rating in a research note issued to investors on Monday, Marketbeat reports. They currently have $150.00 price objective on the software maker’s stock.

SHOP has been the topic of a number of other research reports. Mizuho boosted their price target on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Truist Financial upped their target price on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Barclays upped their target price on Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Wedbush upgraded Shopify from a “neutral” rating to an “outperform” rating and upped their target price for the company from $115.00 to $125.00 in a research report on Monday, January 6th. Finally, Scotiabank upped their target price on Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.14.

Shopify Stock Performance

Shares of Shopify stock opened at $120.46 on Monday. Shopify has a one year low of $48.56 and a one year high of $125.95. The company has a market capitalization of $155.65 billion, a PE ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a 50-day simple moving average of $111.29 and a two-hundred day simple moving average of $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Research analysts expect that Shopify will post 0.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Hedge funds have recently modified their holdings of the business. Allianz SE purchased a new position in shares of Shopify during the 4th quarter worth $27,000. PFG Private Wealth Management LLC raised its position in 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 in the last quarter. Mark Sheptoff Financial Planning LLC raised its position in 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 in the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Shopify in the 4th quarter valued at about $39,000. Finally, Mather Group LLC. raised its position in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares in the last quarter. 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.