Shopify (NASDAQ:SHOP) Shares Up 4.2% – What’s Next?

Shopify Inc. (NASDAQ:SHOP) (TSE:SHOP)’s stock price traded up 4.2% on Monday . The company traded as high as $159.63 and last traded at $158.88. 9,459,720 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 9,712,233 shares. The stock had previously closed at $152.41.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Loop Capital lowered Shopify from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Tuesday, July 22nd. Zacks Research upgraded shares of Shopify from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 14th. DA Davidson lifted their price target on shares of Shopify from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $192.00 price objective (up previously from $165.00) on shares of Shopify in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twenty-three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $163.89.

Shopify Trading Up 4.2%

The company has a market cap of $206.49 billion, a price-to-earnings ratio of 117.69, a P/E/G ratio of 5.70 and a beta of 2.73. The stock has a 50 day moving average price of $155.59 and a two-hundred day moving average price of $130.55.

Shopify (NASDAQ:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, November 4th. The software maker reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Shopify had a net margin of 16.65% and a return on equity of 11.72%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.75 billion. Shopify has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Shopify Inc. will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SHOP. Vanguard Group Inc. increased its holdings in Shopify by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 49,926,824 shares of the software maker’s stock worth $7,417,517,000 after purchasing an additional 610,129 shares in the last quarter. Jennison Associates LLC boosted its position in Shopify by 64.3% during the 3rd quarter. Jennison Associates LLC now owns 18,923,431 shares of the software maker’s stock worth $2,812,211,000 after acquiring an additional 7,403,821 shares during the last quarter. Norges Bank bought a new position in shares of Shopify during the 2nd quarter worth approximately $1,794,952,000. Loomis Sayles & Co. L P raised its holdings in shares of Shopify by 1.3% in the second quarter. Loomis Sayles & Co. L P now owns 14,622,787 shares of the software maker’s stock valued at $1,686,738,000 after purchasing an additional 191,824 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Shopify by 19.9% in the second quarter. Geode Capital Management LLC now owns 10,731,795 shares of the software maker’s stock valued at $1,247,007,000 after purchasing an additional 1,781,530 shares during the last quarter. Institutional investors and hedge funds 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.