TD Securities Forecasts Strong Price Appreciation for Shopify (NYSE:SHOP) Stock

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective upped by TD Securities from $100.00 to $130.00 in a research report released on Wednesday,BayStreet.CA reports. TD Securities currently has a hold rating on the software maker’s stock.

Several other equities analysts have also issued reports on the company. Moffett Nathanson boosted their price objective on Shopify from $86.00 to $99.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Wells Fargo & Company increased their price objective on shares of Shopify from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Loop Capital raised shares of Shopify from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $140.00 in a research report on Friday, December 6th. Evercore ISI increased their target price on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, JMP Securities restated a “market outperform” rating and issued a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.21.

Shopify Stock Up 0.6 %

Shares of NYSE:SHOP opened at $128.36 on Wednesday. The company has a 50 day moving average price of $111.70 and a two-hundred day moving average price of $92.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market capitalization of $165.85 billion, a PE ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. Shopify has a 52 week low of $48.56 and a 52 week high of $128.57.

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 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%. Analysts forecast that Shopify will post 0.91 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several institutional investors have recently made changes to their positions in the stock. Tidemark LLC lifted its position in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after acquiring an additional 90 shares during the period. Howland Capital Management LLC raised its stake 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 purchasing an additional 99 shares in the last quarter. Trust Co. of Vermont lifted its position in Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust grew 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 worth $488,000 after buying an additional 100 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC increased its holdings in Shopify by 50.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares during the period. 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.