Shopify (NYSE:SHOP) Price Target Cut to $130.00 by Analysts at The Goldman Sachs Group

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price reduced by The Goldman Sachs Group from $150.00 to $130.00 in a research report released on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the software maker’s stock.

Other analysts also recently issued reports about the company. Royal Bank of Canada reduced their target price on Shopify from $145.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Evercore ISI raised their price objective on Shopify from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. TD Securities upped their target price on Shopify from $100.00 to $130.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their price target on shares of Shopify from $110.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 18th. Finally, Phillip Securities downgraded shares of Shopify from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, February 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.37.

Shopify Price Performance

NYSE SHOP opened at $85.71 on Tuesday. Shopify has a one year low of $48.56 and a one year high of $129.38. The business has a 50 day simple moving average of $98.84 and a 200 day simple moving average of $101.66. The stock has a market capitalization of $110.98 billion, a P/E ratio of 55.30, a P/E/G ratio of 4.82 and a beta of 2.82.

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 22.74% and a return on equity of 12.00%. Equities analysts expect that Shopify will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several institutional investors have recently made changes to their positions in SHOP. Allianz SE purchased a new position in Shopify during the 4th quarter valued at about $27,000. PFG Private Wealth Management LLC increased its holdings in Shopify by 3,657.1% during the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after acquiring an additional 256 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in Shopify in the 4th quarter worth approximately $30,000. Mark Sheptoff Financial Planning LLC boosted 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 purchasing an additional 100 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Shopify during the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.