Shopify’s (SHOP) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Shopify (NYSE:SHOP) (TSE:SHOP) in a report issued on Tuesday morning, MarketBeat reports. They currently have a $125.00 price objective on the software maker’s stock.

SHOP has been the topic of a number of other research reports. Oppenheimer upped their target price on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company increased their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Moffett Nathanson increased their target price on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JMP Securities reiterated a “market outperform” rating and set a $120.00 price objective on shares of Shopify in a report on Thursday, December 12th. Finally, Truist Financial increased their price objective on Shopify from $65.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Stock Up 5.9 %

Shares of SHOP stock opened at $127.65 on Tuesday. The company’s fifty day simple moving average is $111.43 and its two-hundred day simple moving average is $92.02. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The stock has a market cap of $164.93 billion, a P/E ratio of 119.30, a PEG ratio of 2.49 and a beta of 2.47. Shopify has a 52 week low of $48.56 and a 52 week high of $128.00.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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%. Analysts predict that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SHOP. Fairfield Bush & CO. raised its position in shares of Shopify by 6.0% during the 4th quarter. Fairfield Bush & CO. now owns 22,009 shares of the software maker’s stock valued at $2,340,000 after buying an additional 1,254 shares during the period. Canada Pension Plan Investment Board raised its position in Shopify by 10.6% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,420,836 shares of the software maker’s stock valued at $469,911,000 after purchasing an additional 423,000 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Shopify in the fourth quarter valued at approximately $46,000. Marshall Wace LLP raised its position in Shopify by 623.8% in the fourth quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker’s stock valued at $198,932,000 after purchasing an additional 2,228,091 shares during the period. Finally, NewEdge Advisors LLC raised its position in Shopify by 37.4% in the fourth quarter. NewEdge Advisors LLC now owns 59,468 shares of the software maker’s stock valued at $6,323,000 after purchasing an additional 16,194 shares during the period. 69.27% of the stock is 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.