Shopify (NYSE:SHOP) Price Target Raised to $105.00 at Mizuho

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective raised by Mizuho from $68.00 to $105.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the software maker’s stock.

A number of other analysts have also recently commented on SHOP. Roth Mkm upped their price objective on shares of Shopify from $77.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Truist Financial dropped their price target on Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. UBS Group boosted their price objective on Shopify from $71.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Bank of America upgraded shares of Shopify from a “neutral” rating to a “buy” rating and raised their target price for the stock from $78.00 to $82.00 in a report on Tuesday, July 16th. Finally, Oppenheimer raised their price objective on shares of Shopify from $90.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Trading Down 2.3 %

Shares of Shopify stock traded down $2.61 on Wednesday, hitting $112.48. 1,221,444 shares of the company’s stock traded hands, compared to its average volume of 9,302,125. Shopify has a one year low of $48.56 and a one year high of $115.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. The stock has a market capitalization of $145.14 billion, a PE ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36. The firm’s 50-day moving average price is $80.36 and its two-hundred day moving average price is $70.50.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.09. Shopify had a return on equity of 11.94% and a net margin of 16.84%. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. On average, research analysts expect that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of hedge funds have recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. grew its position in shares of Shopify by 14.7% during the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after buying an additional 8,131,160 shares during the period. Capital World Investors grew its holdings in Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after purchasing an additional 10,340,040 shares during the period. Vanguard Group Inc. increased its stake in Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after purchasing an additional 713,064 shares in the last quarter. FMR LLC raised its holdings in shares of Shopify by 16.1% during the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock worth $2,642,265,000 after purchasing an additional 5,982,434 shares in the last quarter. 69.27% of the stock is currently owned by institutional investors.

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.