Shopify (NYSE:SHOP) Price Target Raised to $150.00 at DA Davidson

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective increased by DA Davidson from $130.00 to $150.00 in a research note released on Wednesday,BayStreet.CA reports. They currently have a buy rating on the software maker’s stock.

A number of other brokerages also recently issued reports on SHOP. JMP Securities reissued a “market outperform” rating and issued a $120.00 price objective on shares of Shopify in a research note on Thursday, December 12th. Citigroup lifted their price objective on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $125.00 target price on shares of Shopify in a report on Tuesday. Oppenheimer boosted their price target on shares of Shopify from $130.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Trading Down 2.5 %

SHOP opened at $120.46 on Wednesday. The company has a 50-day simple moving average of $111.29 and a 200 day simple moving average of $91.82. The stock has a market capitalization of $155.65 billion, a price-to-earnings ratio of 112.58, a P/E/G 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. Shopify has a twelve month low of $48.56 and a twelve month high of $125.95.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data 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%. Analysts predict that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Prudential PLC lifted its stake in Shopify by 16.1% during the fourth quarter. Prudential PLC now owns 201,894 shares of the software maker’s stock worth $21,461,000 after purchasing an additional 28,026 shares during the last quarter. Resolute Advisors LLC boosted its holdings in shares of Shopify by 1.9% in the 4th quarter. Resolute Advisors LLC now owns 43,150 shares of the software maker’s stock valued at $4,588,000 after buying an additional 820 shares in the last quarter. Uniting Wealth Partners LLC purchased a new position in shares of Shopify in the 4th quarter valued at $319,000. Grant Private Wealth Management Inc acquired a new stake in Shopify during the 4th quarter worth $1,116,000. Finally, Spahn Wealth & Retirement LLC purchased a new stake in Shopify in the fourth quarter valued at $746,000. Hedge funds and other 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.