Shopify (NYSE:SHOP) Upgraded at Loop Capital

Loop Capital upgraded shares of Shopify (NYSE:SHOP) (TSE:SHOP) from a hold rating to a buy rating in a report issued on Friday morning, Marketbeat.com reports. The brokerage currently has $140.00 price objective on the software maker’s stock, up from their previous price objective of $110.00.

A number of other equities analysts have also recently weighed in on the stock. Mizuho increased their price objective on shares of Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Piper Sandler raised their price target on Shopify from $67.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Evercore boosted their price objective on Shopify from $75.00 to $80.00 in a report on Thursday, August 8th. Wedbush restated a “neutral” rating and set a $115.00 target price (up from $72.00) on shares of Shopify in a report on Tuesday, November 12th. Finally, Robert W. Baird boosted their price target on shares of Shopify from $90.00 to $126.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.08.

Shopify Stock Up 3.8 %

Shares of SHOP opened at $118.37 on Friday. The company’s 50-day moving average price is $92.58 and its 200 day moving average price is $76.03. Shopify has a 12-month low of $48.56 and a 12-month high of $120.72. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. The firm has a market cap of $152.95 billion, a P/E ratio of 110.63, a price-to-earnings-growth ratio of 2.97 and a beta of 2.46.

Institutional Investors Weigh In On Shopify

Several large investors have recently modified their holdings of the company. Sunbelt Securities Inc. raised its holdings in shares of Shopify by 0.7% in the third quarter. Sunbelt Securities Inc. now owns 14,504 shares of the software maker’s stock valued at $1,162,000 after buying an additional 105 shares during the last quarter. Moser Wealth Advisors LLC increased its position in Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock valued at $755,000 after acquiring an additional 128 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Shopify by 7.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after acquiring an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in Shopify by 41.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. Finally, CVA Family Office LLC grew its stake in shares of Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock valued at $109,000 after purchasing an additional 143 shares during the last quarter. 69.27% of the stock is 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.