Shopify (NYSE:SHOP) Given a $145.00 Price Target at Royal Bank of Canada

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP has been assigned a $145.00 price objective by stock analysts at Royal Bank of Canada in a research report issued on Friday,BayStreet.CA reports. The firm presently has an "outperform" rating on the software maker's stock. Royal Bank of Canada's price target indicates a potential upside of 32.52% from the stock's current price.

SHOP has been the topic of a number of other research reports. Jefferies Financial Group increased their price target on Shopify from $110.00 to $130.00 and gave the company a "hold" rating in a research note on Tuesday, February 18th. Cantor Fitzgerald reissued a "neutral" rating and issued a $120.00 price objective on shares of Shopify in a research report on Wednesday, February 12th. The Goldman Sachs Group lifted their target price on shares of Shopify from $135.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. DA Davidson increased their price target on shares of Shopify from $130.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, DZ Bank cut Shopify from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Shopify currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.31.

Remove Ads

Shopify Price Performance

SHOP stock traded up $5.20 during trading hours on Friday, reaching $109.41. The stock had a trading volume of 9,959,021 shares, compared to its average volume of 8,608,441. The stock has a 50-day simple moving average of $110.04 and a 200 day simple moving average of $99.73. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $129.38. The stock has a market capitalization of $141.67 billion, a PE ratio of 70.59, a price-to-earnings-growth ratio of 4.82 and a beta of 2.60.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last issued its earnings results 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%. On average, sell-side analysts forecast that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Trading of Shopify

A number of hedge funds have recently made changes to their positions in the company. Allianz SE bought a new position in Shopify in the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC lifted 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 period. Fourth Dimension Wealth LLC acquired a new position in shares of Shopify during the fourth quarter worth $30,000. Mark Sheptoff Financial Planning LLC grew its stake in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in Shopify in the third quarter valued at $33,000. 69.27% of the stock is owned by institutional investors and hedge funds.

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.