Shopify (NYSE:SHOP) Price Target Raised to $130.00 at Jefferies Financial Group

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target increased by Jefferies Financial Group from $110.00 to $130.00 in a report released on Tuesday,Benzinga reports. They currently have a hold rating on the software maker’s stock.

A number of other research firms have also recently commented on SHOP. Robert W. Baird boosted their price target on shares of Shopify from $126.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Canaccord Genuity Group boosted their price target on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada boosted their price target on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Truist Financial boosted their price target on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, February 12th. Finally, Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and an average price target of $126.31.

Shopify Price Performance

Shares of NYSE:SHOP opened at $129.20 on Tuesday. The company has a 50 day moving average of $112.16 and a 200 day moving average of $93.70. The stock has a market cap of $166.94 billion, a P/E ratio of 120.75, 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 $129.38. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data 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 net margin of 16.84% and a return on equity of 11.60%. As a group, sell-side analysts forecast that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHOP. Allianz SE bought a new position in shares of Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC grew its position in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in Shopify during the 4th quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC grew its position in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter valued at about $33,000. 69.27% of the stock is currently owned by institutional investors.

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.