Deutsche Bank Aktiengesellschaft Boosts Shopify (NYSE:SHOP) Price Target to $150.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target boosted by investment analysts at Deutsche Bank Aktiengesellschaft from $125.00 to $150.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the software maker’s stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 22.70% from the company’s current price.

SHOP has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and set a $125.00 price target on shares of Shopify in a research note on Tuesday. Morgan Stanley upped their target price on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research note on Wednesday. Piper Sandler upped their target price on Shopify from $94.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday. Atb Cap Markets cut Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, KeyCorp raised their price objective on Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $125.14.

Shopify Trading Down 1.1 %

NYSE: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’s fifty day moving average is $111.29 and its 200-day moving average is $91.82. Shopify has a 12-month low of $48.56 and a 12-month high of $125.95. The firm has a market capitalization of $157.96 billion, a P/E ratio of 114.25, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09.

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

Institutional Investors Weigh In On Shopify

Several institutional investors and hedge funds have recently bought and sold shares of SHOP. Norges Bank acquired a new stake in shares of Shopify in the 4th quarter valued at $1,542,262,000. Baillie Gifford & Co. boosted its stake 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 purchasing an additional 8,131,160 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Shopify by 79.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 16,487,579 shares of the software maker’s stock worth $1,752,834,000 after buying an additional 7,316,862 shares in the last quarter. FMR LLC lifted its position in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after buying an additional 5,869,795 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Shopify by 30.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,095,382 shares of the software maker’s stock valued at $754,201,000 after purchasing an additional 1,647,374 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.