Shopify (NYSE:SHOP) Given New $135.00 Price Target at Robert W. Baird

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target lifted by Robert W. Baird from $126.00 to $135.00 in a research note released on Wednesday,BayStreet.CA reports. Robert W. Baird currently has an outperform rating on the software maker’s stock.

Several other equities analysts have also issued reports on SHOP. Barclays lifted their price target on Shopify from $93.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday. KeyCorp raised their price objective on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Truist Financial upped their target price on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. Canaccord Genuity Group raised their price target on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Shopify in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Price Performance

Shares of SHOP opened at $120.46 on Wednesday. The firm’s 50-day simple moving average is $111.29 and its two-hundred day simple moving average is $91.82. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $125.95. The stock has a market cap of $155.65 billion, a PE ratio of 112.58, a price-to-earnings-growth 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.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allianz SE bought a new stake in shares of Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC increased its stake in Shopify by 3,657.1% in 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 during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter valued at approximately $33,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Shopify by 41.3% in 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. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.