Shopify Inc. (NYSE:SHOP) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have been assigned a consensus recommendation of “Moderate Buy” from the forty research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, twenty-four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $126.31.

Several research analysts have weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company boosted their target price on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Monday, February 10th. JMP Securities reissued a “market outperform” rating and issued a $120.00 target price on shares of Shopify in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Shopify from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th.

Shopify Stock Performance

Shopify stock opened at $106.40 on Thursday. The firm has a market cap of $137.77 billion, a PE ratio of 68.65, a P/E/G ratio of 4.82 and a beta of 2.47. The firm’s 50 day moving average price is $112.57 and its two-hundred day moving average price is $97.59. Shopify has a twelve month low of $48.56 and a twelve month high of $129.38.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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 net margin of 22.74% and a return on equity of 12.00%. Equities analysts anticipate that Shopify will post 1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

A number of hedge funds have recently made changes to their positions in SHOP. Allianz SE acquired a new position in shares of Shopify in the 4th quarter valued at $27,000. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify in the 4th quarter valued at $30,000. Mark Sheptoff Financial Planning LLC raised its stake in shares of Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Shopify during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.