Oppenheimer Issues Positive Forecast for Shopify (NYSE:SHOP) Stock Price

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price increased by Oppenheimer from $130.00 to $150.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. They currently have an outperform rating on the software maker’s stock.

Several other equities analysts have also recently issued reports on the stock. DZ Bank cut shares of Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price target on shares of Shopify in a report on Wednesday, January 22nd. Piper Sandler lifted their price objective on Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Citigroup boosted their target price on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird raised their price target on Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $125.14.

Shopify Stock Down 2.5 %

Shares of NYSE:SHOP opened at $120.46 on Wednesday. The firm has a 50 day simple moving average of $111.29 and a 200-day simple moving average of $91.82. Shopify has a twelve month low of $48.56 and a twelve month 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. The company has a market capitalization of $155.65 billion, a PE ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share (EPS) 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, equities analysts predict that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Trading of Shopify

A number of hedge funds and other institutional investors have recently made changes to their positions in SHOP. Tidemark LLC increased its position in shares of Shopify by 3.6% in the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock worth $276,000 after purchasing an additional 90 shares during the last quarter. Howland Capital Management LLC increased its holdings in Shopify by 2.0% in the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after buying an additional 99 shares during the last quarter. Trust Co. of Vermont raised its stake in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock valued at $118,000 after buying an additional 100 shares in the last quarter. First United Bank & Trust raised its stake in Shopify by 2.2% during the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock valued at $488,000 after buying an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in 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 last quarter. Institutional investors own 69.27% of the company’s stock.

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.