Shopify (NYSE:SHOP) Stock Price Up 5% – Should You Buy?

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) traded up 5% on Friday . The stock traded as high as $95.83 and last traded at $95.15. 2,761,364 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 8,523,351 shares. The stock had previously closed at $90.59.

Wall Street Analyst Weigh In

A number of research firms have commented on SHOP. JPMorgan Chase & Co. upped their price target on Shopify from $121.00 to $124.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Canaccord Genuity Group raised their price target on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Oppenheimer raised their price target on Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. Loop Capital upgraded Shopify from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $140.00 in a research note on Friday, December 6th. Finally, UBS Group raised their price objective on shares of Shopify from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.31.

Shopify Trading Up 4.6 %

The company’s 50-day moving average is $111.17 and its 200 day moving average is $98.29. The stock has a market capitalization of $122.66 billion, a PE ratio of 61.10, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a return on equity of 12.00% and a net margin of 22.74%. Sell-side analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

Several large investors have recently bought and sold shares of SHOP. Nations Financial Group Inc. IA ADV lifted its holdings in Shopify by 4.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,756 shares of the software maker’s stock valued at $381,000 after purchasing an additional 209 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Shopify during the 3rd quarter valued at about $1,011,000. Verus Capital Partners LLC acquired a new stake in Shopify in the 3rd quarter valued at about $219,000. Prime Capital Investment Advisors LLC lifted its stake in Shopify by 1.4% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 13,801 shares of the software maker’s stock worth $1,106,000 after purchasing an additional 195 shares in the last quarter. Finally, Aptus Capital Advisors LLC boosted its holdings in shares of Shopify by 5.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 6,059 shares of the software maker’s stock worth $486,000 after purchasing an additional 315 shares during the last quarter. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

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.