Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP)‘s stock had its “neutral” rating reiterated by research analysts at Wedbush in a note issued to investors on Tuesday,RTT News reports. They currently have a $115.00 price objective on the software maker’s stock, up from their prior price objective of $72.00. Wedbush’s price target suggests a potential upside of 6.25% from the stock’s current price.
SHOP has been the topic of a number of other research reports. Loop Capital increased their price target on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their target price on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of Shopify in a research note on Tuesday, September 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $70.00 target price on shares of Shopify in a report on Monday, October 7th. Finally, Wolfe Research started coverage on shares of Shopify in a report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price target on the stock. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.19.
Get Our Latest Analysis on SHOP
Shopify Trading Up 20.3 %
Institutional Investors Weigh In On Shopify
Several institutional investors and hedge funds have recently bought and sold shares of SHOP. Moser Wealth Advisors LLC increased its holdings in shares of Shopify by 1.4% in the 3rd quarter. Moser Wealth Advisors LLC now owns 9,424 shares of the software maker’s stock worth $755,000 after acquiring an additional 128 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker’s stock valued at $159,000 after buying an additional 129 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Shopify by 41.3% during the third quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after buying an additional 133 shares during the period. CVA Family Office LLC grew its holdings in Shopify by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 1,354 shares of the software maker’s stock worth $109,000 after buying an additional 143 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC increased its position in Shopify by 3.5% in the 3rd quarter. Twin Peaks Wealth Advisors LLC now owns 4,282 shares of the software maker’s stock valued at $343,000 after acquiring an additional 145 shares during the period. 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.
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