Shopify Inc. (NYSE:SHOP) Receives $99.88 Consensus Target Price 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 given a hold recommendation, twenty-four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $100.31.

A number of brokerages have recently commented on SHOP. Royal Bank of Canada boosted their price target on Shopify from $100.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company boosted their target price on Shopify from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Shopify in a research note on Thursday, December 12th. Canaccord Genuity Group boosted their price objective on shares of Shopify from $80.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 12th.

Shopify Trading Down 0.3 %

SHOP opened at $101.48 on Wednesday. The stock has a market capitalization of $131.12 billion, a P/E ratio of 94.84, a P/E/G ratio of 2.98 and a beta of 2.46. 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 12 month low of $48.56 and a 12 month high of $120.72. The firm’s fifty day simple moving average is $108.26 and its 200 day simple moving average is $85.04.

Institutional Investors Weigh In On Shopify

Large investors have recently added to or reduced their stakes in the stock. RMR Wealth Builders raised its holdings in Shopify by 2.9% in the 4th quarter. RMR Wealth Builders now owns 10,846 shares of the software maker’s stock valued at $1,153,000 after acquiring an additional 305 shares in the last quarter. ERn Financial LLC bought a new position in shares of Shopify in the fourth quarter worth $349,000. Redhawk Wealth Advisors Inc. increased its position in shares of Shopify by 3.3% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 3,358 shares of the software maker’s stock worth $357,000 after purchasing an additional 107 shares during the period. Smith Anglin Financial LLC acquired a new position in Shopify in the fourth quarter valued at about $212,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in Shopify by 45.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 862 shares of the software maker’s stock worth $92,000 after purchasing an additional 271 shares during the period. Institutional investors and hedge funds own 69.27% of the company’s stock.

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.