Shopify Inc. (NYSE:SHOP) Receives $126.31 Average Price Target from Analysts

Shopify Inc. (NYSE:SHOP) (TSE:SHOP) has been assigned an average recommendation of “Moderate Buy” from the forty research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, twenty-four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $126.31.

A number of equities analysts have commented on SHOP shares. UBS Group lifted their price objective on shares of Shopify from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. ATB Capital upped their price target on shares of Shopify from $145.00 to $170.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. raised their price objective on shares of Shopify from $121.00 to $124.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Wells Fargo & Company boosted their price objective on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Benchmark upgraded Shopify from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Monday, February 10th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SHOP. Allianz SE acquired a new position in Shopify in the 4th quarter worth about $27,000. PFG Private Wealth Management LLC grew its holdings in shares of 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 during the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify in the fourth quarter valued at approximately $30,000. Mark Sheptoff Financial Planning LLC raised its holdings in Shopify by 50.0% in the 4th 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 during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in Shopify during the 4th quarter worth approximately $39,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

Shopify Price Performance

Shopify stock opened at $96.51 on Monday. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The firm has a market capitalization of $124.96 billion, a PE ratio of 62.27, a P/E/G ratio of 4.82 and a beta of 2.60. The company’s 50-day moving average is $110.21 and its 200-day moving average is $100.98.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share (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%. As a group, analysts expect that Shopify will post 1.12 EPS for the current year.

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.