Shopify (NYSE:SHOP) Price Target Raised to $125.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective increased by UBS Group from $110.00 to $125.00 in a research note published on Wednesday morning, MarketBeat.com reports. UBS Group currently has a neutral rating on the software maker’s stock.

SHOP has been the topic of several other research reports. Cantor Fitzgerald reissued a “neutral” rating and set a $120.00 target price on shares of Shopify in a research report on Wednesday. Benchmark upgraded shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Monday, February 10th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and increased their target price for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Truist Financial boosted their price target on shares of Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their target price on Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $126.21.

Shopify Stock Up 0.6 %

Shares of NYSE:SHOP opened at $128.36 on Wednesday. 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 has a fifty-two week low of $48.56 and a fifty-two week high of $128.57. The stock has a market cap of $165.85 billion, a price-to-earnings ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The firm’s 50 day moving average price is $111.70 and its 200 day moving average price is $92.27.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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 11.60% and a net margin of 16.84%. As a group, equities research analysts predict that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of hedge funds have recently bought and sold shares of the company. Allianz SE acquired a new position in Shopify in the 4th quarter valued at $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 valued at $28,000 after purchasing an additional 256 shares during the last quarter. Mark Sheptoff Financial Planning LLC lifted its position in 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 buying an additional 100 shares during the period. Brooklyn Investment Group acquired a new stake in Shopify in the 3rd quarter worth about $33,000. Finally, Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.