DA Davidson Issues Positive Forecast for Shopify (NYSE:SHOP) Stock Price

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective increased by DA Davidson from $130.00 to $150.00 in a research note published on Wednesday morning,BayStreet.CA reports. DA Davidson currently has a buy rating on the software maker’s stock. DA Davidson also issued estimates for Shopify’s Q1 2025 earnings at $0.16 EPS and FY2025 earnings at $1.09 EPS.

SHOP has been the topic of a number of other research reports. Robert W. Baird lifted their price target on shares of Shopify from $90.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada lifted their target price on shares of Shopify from $130.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday. Moffett Nathanson upped their price target on shares of Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Citigroup lifted their price objective on Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Benchmark raised Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.21.

Shopify Stock Performance

Shares of NYSE SHOP opened at $128.36 on Wednesday. Shopify has a 1 year low of $48.56 and a 1 year high of $128.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company’s fifty day moving average price is $111.70 and its 200 day moving average price is $92.27. The company has a market capitalization of $165.85 billion, a PE ratio of 119.96, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings results on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. On average, research analysts predict that Shopify will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SHOP. Allianz SE acquired a new stake in Shopify during the 4th quarter worth approximately $27,000. PFG Private Wealth Management LLC boosted its holdings in 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 purchasing an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC grew its stake in Shopify by 50.0% during the 4th 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. Brooklyn Investment Group purchased a new stake in Shopify during the 3rd quarter worth about $33,000. Finally, Rosenberg Matthew Hamilton raised its position in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock valued at $36,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors 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.