Shopify (NYSE:SHOP) Given a $145.00 Price Target by Royal Bank of Canada Analysts

Shopify (NYSE:SHOP) (TSE:SHOP) has been given a $145.00 price target by research analysts at Royal Bank of Canada in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 39.81% from the company’s current price.

Several other analysts also recently issued reports on SHOP. DA Davidson lifted their price target on shares of Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. ATB Capital increased their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their target price on Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.31.

Shopify Trading Up 1.8 %

NYSE:SHOP traded up $1.86 on Friday, hitting $103.71. The company had a trading volume of 5,357,335 shares, compared to its average volume of 8,599,281. The firm has a 50 day moving average of $110.03 and a two-hundred day moving average of $99.12. The stock has a market capitalization of $134.29 billion, a price-to-earnings ratio of 66.91, a PEG ratio of 4.82 and a beta of 2.60. Shopify has a 52 week low of $48.56 and a 52 week high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results 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 12.00% and a net margin of 22.74%. As a group, equities analysts forecast that Shopify will post 1.12 EPS for the current year.

Institutional Trading of Shopify

Several hedge funds have recently modified their holdings of SHOP. Members Wealth LLC purchased a new stake in Shopify in the 4th quarter worth about $177,000. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Shopify in the 4th quarter worth $29,322,000. Centaurus Financial Inc. increased its position in Shopify by 15.4% during the 4th quarter. Centaurus Financial Inc. now owns 1,496 shares of the software maker’s stock valued at $159,000 after buying an additional 200 shares in the last quarter. Cim LLC purchased a new stake in Shopify in the fourth quarter valued at about $1,313,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of Shopify during the fourth quarter valued at about $232,000. 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.