Shopify (NYSE:SHOP) Price Target Raised to $126.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective upped by Robert W. Baird from $90.00 to $126.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the software maker’s stock.

SHOP has been the topic of a number of other reports. Barclays lifted their target price on Shopify from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Evercore ISI lifted their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Argus raised shares of Shopify to a “strong-buy” rating in a research report on Thursday, August 8th. Truist Financial lowered their price target on shares of Shopify from $65.00 to $55.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Shopify from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $94.95.

Shopify Stock Down 0.6 %

SHOP stock opened at $108.48 on Wednesday. Shopify has a twelve month low of $48.56 and a twelve month high of $115.62. The company has a quick ratio of 7.32, a current ratio of 7.10 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $139.98 billion, a PE ratio of 101.38, a P/E/G ratio of 3.71 and a beta of 2.36. The stock’s 50 day moving average is $81.97 and its 200-day moving average is $71.02.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its earnings results on Tuesday, November 12th. The software maker reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. Shopify had a return on equity of 11.60% and a net margin of 16.84%. Sell-side analysts expect that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GQG Partners LLC boosted its position in Shopify by 197.9% during the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker’s stock valued at $1,613,006,000 after buying an additional 13,885,473 shares during the period. Capital World Investors raised its stake in shares of Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock valued at $3,840,332,000 after acquiring an additional 10,340,040 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Shopify by 14.7% during the third quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock worth $5,078,176,000 after purchasing an additional 8,131,160 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after purchasing an additional 5,982,434 shares during the period. Finally, FMR LLC raised its position in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock valued at $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. 69.27% of the stock is owned by hedge funds and other institutional investors.

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.