Shopify (NYSE:SHOP) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price hoisted by Robert W. Baird from $126.00 to $135.00 in a report released on Wednesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the software maker’s stock.

A number of other research analysts have also weighed in on the company. Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Monday. DA Davidson increased their price target on Shopify from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday. ATB Capital boosted their price objective on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday. Moffett Nathanson upped their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Wells Fargo & Company lifted their price target on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.14.

Shopify Stock Down 2.5 %

NYSE:SHOP opened at $120.46 on Wednesday. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify has a twelve month low of $48.56 and a twelve month high of $125.95. The company has a market cap of $155.65 billion, a PE ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47. The company’s 50 day moving average is $111.29 and its two-hundred day moving average is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Analysts anticipate that Shopify will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allianz SE purchased a new position in shares of Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC lifted its stake in Shopify by 3,657.1% during the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock worth $28,000 after purchasing an additional 256 shares in the last quarter. Mark Sheptoff Financial Planning LLC lifted its stake in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Shopify during the fourth quarter worth $39,000. Finally, Mather Group LLC. grew its stake in shares of Shopify by 84.8% in the fourth quarter. Mather Group LLC. now owns 401 shares of the software maker’s stock valued at $43,000 after buying an additional 184 shares in 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.