Shopify (NYSE:SHOP) Price Target Raised to $135.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective hoisted by Robert W. Baird from $126.00 to $135.00 in a report released on Wednesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the software maker’s stock.

A number of other analysts have also weighed in on SHOP. New Street Research started coverage on shares of Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 target price on the stock. Mizuho increased their price objective on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. KeyCorp boosted their target price on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. DA Davidson raised their price target on Shopify from $130.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.21.

Shopify Stock Performance

NYSE SHOP opened at $128.36 on Wednesday. The firm has a market cap of $165.85 billion, a P/E ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $111.70 and its 200-day moving average is $92.27. Shopify has a 12-month low of $48.56 and a 12-month high of $128.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Sell-side analysts predict that Shopify will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Blue Rock Wealth Management LLC purchased a new position in shares of Shopify during the fourth quarter valued at about $659,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of Shopify by 2.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 49,442 shares of the software maker’s stock worth $5,257,000 after acquiring an additional 1,372 shares during the period. Keel Point LLC raised its position in shares of Shopify by 14.2% in the 4th quarter. Keel Point LLC now owns 3,020 shares of the software maker’s stock worth $321,000 after acquiring an additional 375 shares in the last quarter. Davidson Kahn Capital Management LLC purchased a new position in shares of Shopify in the 4th quarter valued at approximately $223,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Shopify by 3.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,606,525 shares of the software maker’s stock valued at $170,889,000 after purchasing an additional 46,604 shares in the last quarter. 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.