Shopify Inc. (NYSE:SHOP) Receives $126.31 Consensus PT from Analysts

Shares of Shopify Inc. (NYSE:SHOP) (TSE:SHOP) have received a consensus rating of “Moderate Buy” from the forty ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, twenty-four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $126.31.

Several research firms have issued reports on SHOP. Mizuho lifted their target price on Shopify from $68.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. ATB Capital lifted their target price on Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. TD Securities lifted their target price on Shopify from $100.00 to $130.00 and gave the company a “hold” rating in a research note on Wednesday, February 12th. Scotiabank lifted their target price on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Canaccord Genuity Group lifted their target price on Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th.

Shopify Trading Down 5.1 %

Shares of Shopify stock opened at $106.25 on Thursday. The firm has a market cap of $137.57 billion, a P/E ratio of 68.55, a P/E/G ratio of 4.82 and a beta of 2.47. Shopify has a 12 month low of $48.56 and a 12 month high of $129.38. The stock’s fifty day moving average price is $112.82 and its 200-day moving average price is $97.34.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results 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 net margin of 22.74% and a return on equity of 12.00%. Analysts forecast that Shopify will post 1.12 earnings per share for the current year.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently made changes to their positions in SHOP. Allianz SE purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $27,000. PFG Private Wealth Management LLC increased its position in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC increased its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Shopify in the third quarter valued at approximately $33,000. 69.27% of the stock is currently 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.