Shopify (NYSE:SHOP) Price Target Raised to $170.00 at ATB Capital

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target hoisted by ATB Capital from $145.00 to $170.00 in a report issued on Wednesday,BayStreet.CA reports. They currently have a sector perform rating on the software maker’s stock.

SHOP has been the subject of a number of other research reports. Moffett Nathanson boosted their price target on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lifted their price objective on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday. Benchmark raised shares of Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Monday. Evercore ISI raised their price target on shares of Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, KeyCorp boosted their price objective on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Shopify has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Trading Down 2.5 %

Shares of SHOP stock opened at $120.46 on Wednesday. The firm’s 50-day simple moving average is $111.29 and its 200-day simple moving average is $91.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify has a 1-year low of $48.56 and a 1-year high of $125.95. The firm has a market cap of $155.65 billion, a P/E ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings results 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%. As a group, equities analysts forecast that Shopify will post 0.91 EPS for the current year.

Institutional Trading of Shopify

Several institutional investors have recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. boosted its holdings in shares of Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the period. Vanguard Group Inc. lifted its holdings in Shopify by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 47,080,112 shares of the software maker’s stock worth $5,010,721,000 after acquiring an additional 781,162 shares during the last quarter. FMR LLC boosted its stake in Shopify by 16.1% in the third quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after acquiring an additional 5,869,795 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Shopify by 79.8% during 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 during the last quarter. Finally, Norges Bank bought a new position in shares of Shopify during the fourth quarter valued at approximately $1,542,262,000. 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.