Shopify Inc. (NYSE:SHOP) Receives $100.32 Consensus Target Price from Analysts

Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP has been assigned a consensus rating of "Moderate Buy" from the thirty-nine brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $100.32.

A number of research analysts recently commented on the company. Barclays upped their price objective on Shopify from $70.00 to $93.00 and gave the company an "equal weight" rating in a report on Wednesday, November 13th. Wedbush upgraded Shopify from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $115.00 to $125.00 in a report on Monday, January 6th. Loop Capital upgraded Shopify from a "hold" rating to a "buy" rating and upped their price objective for the company from $110.00 to $140.00 in a report on Friday, December 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $130.00 price objective on shares of Shopify in a report on Wednesday, January 22nd. Finally, KeyCorp upped their price target on Shopify from $80.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th.

Hedge Funds Weigh In On Shopify

Several large investors have recently bought and sold shares of the stock. Anchor Investment Management LLC boosted its stake in shares of Shopify by 31.5% during the second quarter. Anchor Investment Management LLC now owns 865 shares of the software maker's stock worth $57,000 after buying an additional 207 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Shopify by 7.0% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,983 shares of the software maker's stock worth $159,000 after buying an additional 129 shares during the period. Canandaigua National Bank & Trust Co. boosted its stake in shares of Shopify by 28.8% during the third quarter. Canandaigua National Bank & Trust Co. now owns 14,526 shares of the software maker's stock worth $1,164,000 after buying an additional 3,249 shares during the period. GAMMA Investing LLC boosted its stake in shares of Shopify by 73.5% during the third quarter. GAMMA Investing LLC now owns 597 shares of the software maker's stock worth $48,000 after buying an additional 253 shares during the period. Finally, Salvus Wealth Management LLC boosted its stake in shares of Shopify by 44.9% during the third quarter. Salvus Wealth Management LLC now owns 6,400 shares of the software maker's stock worth $513,000 after buying an additional 1,982 shares during the period. Institutional investors and hedge funds own 69.27% of the company's stock.

Shopify Price Performance

Shares of Shopify stock traded down $2.48 on Friday, hitting $116.70. 7,750,504 shares of the company were exchanged, compared to its average volume of 5,562,812. Shopify has a 1-year low of $48.56 and a 1-year high of $122.00. The stock has a market capitalization of $150.79 billion, a price-to-earnings ratio of 109.07, a price-to-earnings-growth ratio of 2.45 and a beta of 2.46. The company has a 50-day moving average price of $110.36 and a 200 day moving average price of $88.80. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

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.