Shopify (NYSE:SHOP) Price Target Raised to $175.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by Citigroup from $143.00 to $175.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the software maker’s stock.

A number of other equities analysts have also recently commented on the company. KeyCorp lifted their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. New Street Research started coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. Moffett Nathanson lifted their price objective on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. DZ Bank lowered Shopify from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Robert W. Baird raised their price target on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Price Performance

NYSE:SHOP opened at $127.65 on Tuesday. 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 company has a market capitalization of $164.93 billion, a P/E ratio of 119.30, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify has a 12 month low of $48.56 and a 12 month high of $128.00. The business’s 50-day moving average is $111.43 and its 200 day moving average is $92.02.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. On average, equities research analysts forecast that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fairfield Bush & CO. raised its stake in Shopify by 6.0% in the 4th quarter. Fairfield Bush & CO. now owns 22,009 shares of the software maker’s stock valued at $2,340,000 after purchasing an additional 1,254 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Shopify by 10.6% during the 4th quarter. Canada Pension Plan Investment Board now owns 4,420,836 shares of the software maker’s stock worth $469,911,000 after purchasing an additional 423,000 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of Shopify during the 4th quarter worth $46,000. Marshall Wace LLP boosted its holdings in Shopify by 623.8% during the 4th quarter. Marshall Wace LLP now owns 1,870,891 shares of the software maker’s stock valued at $198,932,000 after acquiring an additional 2,228,091 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Shopify by 37.4% during the 4th quarter. NewEdge Advisors LLC now owns 59,468 shares of the software maker’s stock valued at $6,323,000 after acquiring an additional 16,194 shares during the period. 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.