Shopify (NYSE:SHOP) Price Target Raised to $140.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective increased by Evercore ISI from $125.00 to $140.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

A number of other brokerages also recently issued reports on SHOP. New Street Research initiated coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. Canaccord Genuity Group raised their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday. Moffett Nathanson upped their price target on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company raised their price objective on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Piper Sandler upped their target price on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.21.

Shopify Trading Up 0.6 %

Shares of Shopify stock opened at $128.36 on Wednesday. Shopify has a 1 year low of $48.56 and a 1 year high of $128.57. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The stock has a market cap of $165.85 billion, a PE ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The firm has a fifty day moving average price of $111.70 and a 200 day moving average price of $92.27.

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

Hedge Funds Weigh In On Shopify

A number of hedge funds have recently modified their holdings of the business. Tidemark LLC boosted its stake in Shopify by 3.6% during the fourth quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after buying an additional 90 shares during the period. Howland Capital Management LLC boosted its position in shares of Shopify by 2.0% during the 4th quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock worth $526,000 after purchasing an additional 99 shares during the period. Trust Co. of Vermont increased its holdings in Shopify by 9.9% in the 4th quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after purchasing an additional 100 shares during the last quarter. First United Bank & Trust raised its position in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after purchasing an additional 100 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its position 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 buying an additional 100 shares during the period. 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.