Shopify Inc. (NYSE:SHOP) Receives $126.31 Consensus Target Price from Brokerages

Shares of Shopify Inc. (NYSE:SHOP - Get Free Report) TSE: SHOP have been assigned a consensus rating of "Moderate Buy" from the forty brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $126.31.

SHOP has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Wednesday, February 12th. Benchmark upgraded shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 price target on the stock in a research note on Monday, February 10th. Morgan Stanley boosted their price objective on shares of Shopify from $126.00 to $144.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Oppenheimer increased their target price on shares of Shopify from $130.00 to $150.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Finally, CIBC boosted their price target on shares of Shopify from $135.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th.

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Shopify Price Performance

Shares of SHOP stock traded up $0.47 during trading hours on Monday, reaching $109.75. 3,650,140 shares of the stock were exchanged, compared to its average volume of 8,608,385. Shopify has a 12-month low of $48.56 and a 12-month high of $129.38. The business's fifty day moving average is $110.19 and its two-hundred day moving average is $100.01. The firm has a market capitalization of $142.11 billion, a P/E ratio of 70.74, a P/E/G ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates 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, equities research analysts predict that Shopify will post 1.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shopify

Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC purchased a new position in shares of Shopify during the 4th quarter worth approximately $132,323,000. Watts Gwilliam & Co. LLC lifted its stake in shares of Shopify by 53.0% in the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker's stock valued at $1,431,000 after purchasing an additional 4,641 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker's stock worth $27,409,000 after purchasing an additional 77,500 shares in the last quarter. Wahed Invest LLC raised its stake in shares of Shopify by 18.4% in the 3rd quarter. Wahed Invest LLC now owns 57,624 shares of the software maker's stock valued at $4,618,000 after acquiring an additional 8,960 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Shopify in the third quarter valued at about $33,676,000. 69.27% of the stock is currently owned by hedge funds and other institutional investors.

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.