Shopify (NYSE:SHOP) Price Target Raised to $130.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective hoisted by research analysts at TD Securities from $100.00 to $130.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the software maker’s stock. TD Securities’ target price would suggest a potential upside of 6.34% from the company’s current price.

Several other research analysts also recently commented on SHOP. Canaccord Genuity Group increased their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI upped their target price on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday. Wedbush restated an “outperform” rating and set a $125.00 target price on shares of Shopify in a research report on Tuesday. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Robert W. Baird upped their target price on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.14.

Shopify Price Performance

Shares of SHOP traded down $1.34 during midday trading on Wednesday, hitting $122.25. 8,897,011 shares of the company traded hands, compared to its average volume of 7,737,990. The firm has a 50 day moving average of $111.29 and a 200-day moving average of $91.82. Shopify has a 52 week low of $48.56 and a 52 week high of $125.95. The stock has a market cap of $157.96 billion, a price-to-earnings ratio of 114.25, a PEG ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released 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%. On average, analysts forecast that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Allianz SE acquired a new position in Shopify in the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC raised its stake in shares of Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after buying an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC raised its stake in shares of Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. New Wave Wealth Advisors LLC acquired a new position in shares of Shopify during the 4th quarter worth approximately $39,000. Finally, Mather Group LLC. raised its stake in Shopify by 84.8% in the 4th quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after purchasing an additional 184 shares during the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

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.