Deutsche Bank Aktiengesellschaft Boosts Shopify (NYSE:SHOP) Price Target to $150.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective upped by equities research analysts at Deutsche Bank Aktiengesellschaft from $125.00 to $150.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the software maker’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 17.51% from the company’s previous close.

Several other equities research analysts have also issued reports on SHOP. Moffett Nathanson increased their target price on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Citigroup raised their price target on shares of Shopify from $143.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. Evercore ISI raised their price target on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $120.00 price target on shares of Shopify in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $125.14.

Shopify Trading Up 5.9 %

SHOP stock opened at $127.65 on Wednesday. The company’s 50-day simple moving average is $111.43 and its 200-day simple moving average is $92.02. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify has a 52-week low of $48.56 and a 52-week high of $128.00. The firm has a market cap of $164.93 billion, a P/E ratio of 119.30, a PEG ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its 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 11.60% and a net margin of 16.84%. As a group, equities analysts forecast that Shopify will post 0.91 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 purchased a new position in Shopify in the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC boosted its position in 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 during the period. Mark Sheptoff Financial Planning LLC boosted its position in 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 during the period. New Wave Wealth Advisors LLC purchased a new position in Shopify in the 4th quarter valued at approximately $39,000. Finally, Mather Group LLC. boosted its position in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.