Shopify (NYSE:SHOP) Given New $85.00 Price Target at Mizuho

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP had its price target decreased by investment analysts at Mizuho from $110.00 to $85.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a "neutral" rating on the software maker's stock. Mizuho's target price suggests a potential upside of 1.61% from the company's current price.

SHOP has been the subject of a number of other reports. JPMorgan Chase & Co. raised their target price on shares of Shopify from $121.00 to $124.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Robert W. Baird boosted their target price on shares of Shopify from $126.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. UBS Group upped their target price on shares of Shopify from $110.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, February 12th. Benchmark raised shares of Shopify from a "hold" rating to a "buy" rating and set a $150.00 price objective for the company in a research note on Monday, February 10th. Finally, Phillip Securities downgraded Shopify from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, February 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Shopify has a consensus rating of "Moderate Buy" and an average target price of $120.94.

Shopify Stock Down 0.4 %

Shares of NYSE SHOP traded down $0.31 during trading on Monday, reaching $83.65. 11,591,792 shares of the company traded hands, compared to its average volume of 9,238,801. The firm has a 50 day simple moving average of $101.26 and a 200-day simple moving average of $101.43. Shopify has a 52-week low of $48.56 and a 52-week high of $129.38. The stock has a market capitalization of $108.31 billion, a PE ratio of 53.97, a P/E/G ratio of 4.82 and a beta of 2.82.

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

Hedge Funds Weigh In On Shopify

A number of large investors have recently made changes to their positions in SHOP. Coldstream Capital Management Inc. raised its stake in shares of Shopify by 14.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,140 shares of the software maker's stock worth $339,000 after buying an additional 518 shares during the last quarter. World Investment Advisors LLC grew its holdings in Shopify by 113.4% in the 3rd quarter. World Investment Advisors LLC now owns 12,751 shares of the software maker's stock valued at $1,022,000 after buying an additional 6,776 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Shopify during the 3rd quarter valued at about $615,000. Synovus Financial Corp acquired a new stake in shares of Shopify in the third quarter worth approximately $481,000. Finally, Peapack Gladstone Financial Corp grew its holdings in Shopify by 29.3% in the third quarter. Peapack Gladstone Financial Corp now owns 9,551 shares of the software maker's stock valued at $765,000 after purchasing an additional 2,162 shares during the period. 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.