DA Davidson Increases Shopify (NASDAQ:SHOP) Price Target to $195.00

Shopify (NASDAQ:SHOP) (TSE:SHOP) had its price target boosted by analysts at DA Davidson from $185.00 to $195.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. DA Davidson’s price objective would indicate a potential upside of 20.66% from the company’s previous close.

SHOP has been the subject of several other reports. Scotiabank increased their price objective on Shopify from $150.00 to $165.00 and gave the stock a “sector perform” 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 Wednesday, August 6th. BMO Capital Markets increased their target price on Shopify from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday. KeyCorp increased their target price on Shopify from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Cantor Fitzgerald set a $156.00 target price on Shopify and gave the stock a “neutral” rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twenty-two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $162.24.

Shopify Stock Performance

Shares of SHOP traded up $0.67 during mid-day trading on Wednesday, hitting $161.61. The company’s stock had a trading volume of 1,156,371 shares, compared to its average volume of 9,662,938. The stock’s 50-day moving average is $154.62 and its two-hundred day moving average is $129.05. The firm has a market capitalization of $210.04 billion, a PE ratio of 90.28, a price-to-earnings-growth ratio of 8.10 and a beta of 2.73. Shopify has a one year low of $69.84 and a one year high of $182.19.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last issued its earnings results on Tuesday, November 4th. The software maker reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a return on equity of 12.30% and a net margin of 23.42%.The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. Analysts expect that Shopify will post 1.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Shopify

Hedge funds have recently added to or reduced their stakes in the company. Heartwood Wealth Advisors LLC bought a new position in Shopify during the third quarter worth about $27,000. Family Legacy Financial Solutions LLC bought a new position in Shopify during the second quarter worth about $25,000. Rothschild Investment LLC boosted its holdings in Shopify by 47.5% during the second quarter. Rothschild Investment LLC now owns 233 shares of the software maker’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in Shopify during the second quarter worth about $27,000. Finally, Tradewinds Capital Management LLC boosted its holdings in Shopify by 71.4% during the second quarter. Tradewinds Capital Management LLC now owns 240 shares of the software maker’s stock worth $28,000 after buying an additional 100 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.