Shopify (NASDAQ:SHOP) Given New $185.00 Price Target at Canaccord Genuity Group

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price objective hoisted by equities researchers at Canaccord Genuity Group from $165.00 to $185.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 13.83% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Robert W. Baird boosted their target price on shares of Shopify from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Bank of America boosted their price objective on shares of Shopify from $110.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Arete reissued a “neutral” rating on shares of Shopify in a research note on Wednesday, July 23rd. Needham & Company LLC started coverage on shares of Shopify in a research report on Monday, July 14th. They set a “buy” rating and a $135.00 price objective on the stock. Finally, Barclays raised their price target on shares of Shopify from $94.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twenty-two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.89.

Shopify Stock Performance

NASDAQ SHOP traded down $10.41 on Tuesday, reaching $162.53. The company had a trading volume of 9,329,597 shares, compared to its average volume of 9,668,152. The company’s fifty day moving average is $154.22 and its 200-day moving average is $128.51. The firm has a market capitalization of $211.23 billion, a price-to-earnings ratio of 90.80, a price-to-earnings-growth ratio of 8.14 and a beta of 2.73. Shopify has a 1-year low of $69.84 and a 1-year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating the consensus estimate of $0.24 by $0.03. Shopify had a net margin of 23.42% and a return on equity of 12.30%. Shopify has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Shopify will post 1.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SHOP. Heartwood Wealth Advisors LLC purchased a new stake in shares of Shopify in the third quarter worth $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Shopify in the second quarter worth $25,000. Rothschild Investment LLC increased its stake in shares of Shopify by 47.5% in the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in shares of Shopify in the second quarter worth $27,000. Finally, Tradewinds Capital Management LLC increased its stake in shares of Shopify by 71.4% in the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after purchasing an additional 100 shares in the last quarter. 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.