Shopify (NYSE:SHOP) PT Set at $145.00 by Royal Bank of Canada

Shopify (NYSE:SHOP) (TSE:SHOP) has been given a $145.00 price target by research analysts at Royal Bank of Canada in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the software maker’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 39.03% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Robert W. Baird raised their price target on Shopify from $126.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley raised their price target on Shopify from $126.00 to $144.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Barclays raised their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. raised their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Finally, DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Shopify currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Price Performance

Shopify stock opened at $104.29 on Friday. The company has a market capitalization of $135.04 billion, a price-to-earnings ratio of 67.29, a PEG ratio of 4.82 and a beta of 2.60. Shopify has a one year low of $48.56 and a one year high of $129.38. The company’s fifty day moving average price is $110.04 and its two-hundred day moving average price is $99.53.

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 the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. As a group, sell-side analysts anticipate that Shopify will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Capital World Investors raised its stake in shares of Shopify by 0.9% in the fourth quarter. Capital World Investors now owns 53,102,707 shares of the software maker’s stock valued at $5,646,455,000 after acquiring an additional 496,982 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock valued at $5,010,721,000 after purchasing an additional 781,162 shares in the last quarter. FMR LLC increased its holdings in shares of Shopify by 3.4% in the fourth quarter. FMR LLC now owns 43,732,077 shares of the software maker’s stock valued at $4,653,054,000 after purchasing an additional 1,426,000 shares in the last quarter. Capital International Investors increased its holdings in shares of Shopify by 2.7% in the fourth quarter. Capital International Investors now owns 36,516,305 shares of the software maker’s stock valued at $3,883,039,000 after purchasing an additional 968,026 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Shopify by 79.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock valued at $1,752,834,000 after purchasing an additional 7,316,862 shares in the last quarter. Institutional investors 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.