Shopify (NYSE:SHOP) Given New $125.00 Price Target at UBS Group

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target increased by equities research analysts at UBS Group from $110.00 to $125.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. UBS Group’s price target suggests a potential upside of 2.61% from the stock’s current price.

A number of other research firms have also weighed in on SHOP. Truist Financial increased their price objective on shares of Shopify from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday. Oppenheimer increased their price objective on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays raised their price target on shares of Shopify from $93.00 to $100.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wells Fargo & Company raised their price target on shares of Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, New Street Research assumed coverage on shares of Shopify in a research report on Friday, January 10th. They set a “neutral” rating and a $115.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.51.

Shopify Stock Performance

Shares of NYSE SHOP traded down $1.77 during midday trading on Wednesday, reaching $121.82. The company had a trading volume of 7,583,538 shares, compared to its average volume of 7,696,904. The business’s 50-day simple moving average is $111.29 and its 200 day simple moving average is $91.82. The stock has a market cap of $157.41 billion, a P/E ratio of 113.75, a P/E/G ratio of 2.49 and a beta of 2.47. Shopify has a 1 year low of $48.56 and a 1 year high of $125.95. 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 released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share 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, analysts forecast that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Hedge funds have recently made changes to their positions in the stock. Allianz SE bought a new stake in Shopify in the fourth quarter valued at $27,000. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% during the fourth 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 in the last quarter. Mark Sheptoff Financial Planning LLC grew its holdings in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after acquiring an additional 100 shares during the period. Brooklyn Investment Group acquired a new position in Shopify during the third quarter worth about $33,000. Finally, Rosenberg Matthew Hamilton grew its holdings in Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after acquiring an additional 133 shares during the period. Institutional investors and hedge funds 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.