Shopify (NYSE:SHOP) Price Target Raised to $130.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price increased by Jefferies Financial Group from $110.00 to $130.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a hold rating on the software maker’s stock.

SHOP has been the topic of several other research reports. Barclays boosted their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. KeyCorp boosted their price target on Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Scotiabank boosted their price target on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Wedbush reiterated an “outperform” rating and set a $125.00 price target on shares of Shopify in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Shopify has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

Shares of SHOP stock opened at $123.19 on Tuesday. Shopify has a 1-year low of $48.56 and a 1-year high of $129.38. The stock’s fifty day moving average price is $112.84 and its 200 day moving average price is $94.66. The company has a market cap of $159.18 billion, a price-to-earnings ratio of 79.48, a price-to-earnings-growth ratio of 5.12 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its 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 12.00% and a net margin of 22.74%. As a group, equities research analysts anticipate that Shopify will post 1.1 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

Hedge funds have recently made changes to their positions in the company. Allianz SE acquired a new position in shares of Shopify during the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC grew its position in shares of 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 in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC grew its position in shares of Shopify by 50.0% in the fourth 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. Finally, Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter valued at approximately $33,000. 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.