Shopify (NASDAQ:SHOP) Given New $200.00 Price Target at CIBC

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price objective lifted by CIBC from $185.00 to $200.00 in a research report report published on Wednesday morning, Marketbeat reports. CIBC currently has an outperformer rating on the software maker’s stock.

SHOP has been the topic of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $180.00 price objective on shares of Shopify in a research report on Wednesday. Mizuho raised their price objective on Shopify from $85.00 to $150.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Atb Cap Markets lowered Shopify from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 6th. Stifel Nicolaus set a $175.00 price objective on Shopify in a research report on Tuesday. Finally, Evercore ISI raised their price objective on Shopify from $120.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $163.89.

Shopify Trading Up 1.2%

Shares of SHOP opened at $162.92 on Wednesday. The firm has a market capitalization of $211.74 billion, a P/E ratio of 120.68, a price-to-earnings-growth ratio of 7.53 and a beta of 2.73. The stock’s fifty day simple moving average is $155.08 and its 200 day simple moving average is $129.29. Shopify has a twelve month low of $69.84 and a twelve month high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.03. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.75 billion. Shopify had a return on equity of 11.95% and a net margin of 16.65%. Shopify has set its Q4 2025 guidance at EPS. Sell-side analysts predict that Shopify will post 1.12 earnings per share for the current year.

Hedge Funds Weigh In On Shopify

A number of hedge funds have recently bought and sold shares of the company. SPC Financial Inc. acquired a new position in Shopify in the third quarter worth about $280,000. Plato Investment Management Ltd grew its stake in Shopify by 44.2% in the third quarter. Plato Investment Management Ltd now owns 30,834 shares of the software maker’s stock worth $4,548,000 after purchasing an additional 9,448 shares in the last quarter. Austin Wealth Management LLC acquired a new position in Shopify in the third quarter worth about $239,000. Smartleaf Asset Management LLC grew its stake in Shopify by 228.1% in the third quarter. Smartleaf Asset Management LLC now owns 2,070 shares of the software maker’s stock worth $308,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Moloney Securities Asset Management LLC grew its stake in Shopify by 1.8% in the third quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker’s stock worth $587,000 after purchasing an additional 70 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.