Shopify Inc. (NYSE:SHOP) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Shopify Inc. (NYSE:SHOPGet Free Report) (TSE:SHOP) have been given an average recommendation of “Moderate Buy” by the thirty-nine brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, twenty-four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $99.88.

Several equities research analysts recently weighed in on the company. Mizuho lifted their price target on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $140.00 in a report on Friday, December 6th. Oppenheimer increased their price target on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. KeyCorp raised their target price on shares of Shopify from $80.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Atb Cap Markets downgraded Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

Read Our Latest Analysis on SHOP

Institutional Investors Weigh In On Shopify

Several hedge funds have recently made changes to their positions in SHOP. One Wealth Capital Management LLC purchased a new position in shares of Shopify during the fourth quarter valued at $1,281,000. Diversified Trust Co bought a new position in Shopify during the 4th quarter worth about $279,000. CWA Asset Management Group LLC increased its position in Shopify by 3.6% during the 4th quarter. CWA Asset Management Group LLC now owns 4,282 shares of the software maker’s stock valued at $455,000 after purchasing an additional 148 shares during the period. Modus Advisors LLC bought a new stake in shares of Shopify in the 4th quarter valued at about $64,000. Finally, DGS Capital Management LLC lifted its position in shares of Shopify by 15.0% in the 3rd quarter. DGS Capital Management LLC now owns 3,536 shares of the software maker’s stock worth $283,000 after purchasing an additional 460 shares during the period. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

Shopify Stock Performance

Shares of SHOP opened at $106.84 on Wednesday. Shopify has a one year low of $48.56 and a one year high of $120.72. The company has a 50-day simple moving average of $105.71 and a two-hundred day simple moving average of $83.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm has a market capitalization of $138.05 billion, a PE ratio of 99.85, a price-to-earnings-growth ratio of 2.98 and a beta of 2.46.

Shopify Company Profile

(Get Free Report

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.

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Analyst Recommendations for Shopify (NYSE:SHOP)

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