Shopify (NYSE:SHOP) PT Raised to $103.00

Shopify (NYSE:SHOP - Free Report) TSE: SHOP had its target price hoisted by Citigroup from $90.00 to $103.00 in a research report sent to investors on Monday, Marketbeat Ratings reports. They currently have a buy rating on the software maker's stock.

SHOP has been the subject of several other research reports. Evercore ISI upped their price objective on shares of Shopify from $75.00 to $80.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Truist Financial cut their price objective on Shopify from $65.00 to $55.00 and set a hold rating on the stock in a report on Tuesday, August 6th. UBS Group raised their target price on Shopify from $71.00 to $75.00 and gave the stock a neutral rating in a research report on Thursday, August 8th. Benchmark reaffirmed a hold rating on shares of Shopify in a research report on Tuesday, August 6th. Finally, JMP Securities reiterated a market outperform rating and set a $80.00 price target on shares of Shopify in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $78.26.

Shopify Stock Up 1.2 %

Shares of NYSE:SHOP traded up $0.94 during midday trading on Monday, hitting $80.15. 4,463,457 shares of the company's stock traded hands, compared to its average volume of 9,624,465. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.32. Shopify has a twelve month low of $45.50 and a twelve month high of $91.57. The company has a market cap of $103.29 billion, a PE ratio of -471.47, a P/E/G ratio of 2.69 and a beta of 2.35. The firm's fifty day moving average price is $70.25 and its two-hundred day moving average price is $68.48.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.06. Shopify had a net margin of 16.40% and a return on equity of 10.88%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The business's revenue was up 20.7% compared to the same quarter last year. On average, equities research analysts anticipate that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Trading of Shopify

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors grew its stake in shares of Shopify by 26.2% during the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker's stock valued at $3,840,332,000 after buying an additional 10,340,040 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Shopify by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker's stock valued at $3,309,154,000 after acquiring an additional 713,064 shares during the period. Price T Rowe Associates Inc. MD grew its position in Shopify by 21.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker's stock worth $2,642,265,000 after acquiring an additional 5,982,434 shares during the last quarter. GQG Partners LLC increased its stake in Shopify by 197.9% in the 1st quarter. GQG Partners LLC now owns 20,901,980 shares of the software maker's stock worth $1,613,006,000 after purchasing an additional 13,885,473 shares during the period. Finally, Capital International Investors lifted its position in Shopify by 3.4% in the first quarter. Capital International Investors now owns 16,392,141 shares of the software maker's stock valued at $1,264,982,000 after purchasing an additional 542,503 shares during the last quarter. Hedge funds and other institutional investors 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.