Shopify Inc. (NYSE:SHOP) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP have been given a consensus recommendation of "Moderate Buy" by the forty research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, twenty-three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $99.03.

SHOP has been the subject of a number of research analyst reports. Piper Sandler increased their target price on shares of Shopify from $67.00 to $94.00 and gave the company a "neutral" rating in a report on Wednesday, November 13th. Robert W. Baird raised their price objective on Shopify from $90.00 to $126.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. Loop Capital upgraded Shopify from a "hold" rating to a "buy" rating and boosted their target price for the stock from $110.00 to $140.00 in a research report on Friday, December 6th. Barclays upped their target price on Shopify from $70.00 to $93.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Finally, Truist Financial boosted their price objective on shares of Shopify from $65.00 to $110.00 and gave the stock a "hold" rating in a research report on Wednesday, November 13th.

Shopify Price Performance

Shares of SHOP traded down $0.68 during trading hours on Friday, reaching $114.63. The company had a trading volume of 4,667,226 shares, compared to its average volume of 9,205,084. 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 has a 50 day simple moving average of $96.14 and a 200-day simple moving average of $77.92. The company has a market capitalization of $148.11 billion, a price-to-earnings ratio of 107.13, a PEG ratio of 3.05 and a beta of 2.46.

Institutional Trading of Shopify

Several large investors have recently added to or reduced their stakes in SHOP. DGS Capital Management LLC grew its position in Shopify by 15.0% in the third quarter. DGS Capital Management LLC now owns 3,536 shares of the software maker's stock valued at $283,000 after acquiring an additional 460 shares in the last quarter. Logan Capital Management Inc. boosted its stake in shares of Shopify by 9.6% in the third quarter. Logan Capital Management Inc. now owns 41,779 shares of the software maker's stock valued at $3,348,000 after purchasing an additional 3,652 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in Shopify by 700.0% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 1,000 shares of the software maker's stock valued at $80,000 after purchasing an additional 875 shares in the last quarter. Peapack Gladstone Financial Corp increased its stake in Shopify by 29.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker's stock worth $765,000 after buying an additional 2,162 shares during the period. Finally, Synovus Financial Corp acquired a new position in Shopify in the 3rd quarter worth $481,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.

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.