The Goldman Sachs Group Lowers Shopify (NYSE:SHOP) Price Target to $130.00

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP had its target price decreased by The Goldman Sachs Group from $150.00 to $130.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the software maker's stock. The Goldman Sachs Group's target price points to a potential upside of 34.12% from the company's previous close.

SHOP has been the topic of several other reports. Evercore ISI upped their price objective on Shopify from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. DA Davidson cut their price objective on shares of Shopify from $150.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Scotiabank lifted their target price on shares of Shopify from $115.00 to $120.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. CIBC raised their price objective on Shopify from $135.00 to $160.00 and gave the stock an "outperform" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley reduced their target price on Shopify from $144.00 to $106.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Shopify currently has an average rating of "Moderate Buy" and an average price target of $119.66.

Shopify Price Performance

Shares of SHOP stock traded up $1.81 during trading hours on Tuesday, reaching $96.93. 2,486,447 shares of the company's stock were exchanged, compared to its average volume of 9,237,226. Shopify has a 1 year low of $48.56 and a 1 year high of $129.38. The company has a market cap of $125.50 billion, a P/E ratio of 62.77, a price-to-earnings-growth ratio of 4.82 and a beta of 2.82. The company's 50 day moving average is $97.43 and its two-hundred day moving average is $101.69.

Shopify (NYSE:SHOP - Get Free Report) TSE: SHOP last posted its quarterly earnings results 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, analysts predict that Shopify will post 1.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Allianz SE bought a new position in Shopify during the fourth quarter worth $27,000. PFG Private Wealth Management LLC boosted its holdings in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker's stock valued at $28,000 after buying an additional 256 shares during the period. Fourth Dimension Wealth LLC bought a new stake in shares of Shopify during the 4th quarter valued at about $30,000. Mark Sheptoff Financial Planning LLC raised its stake in Shopify by 50.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker's stock worth $32,000 after acquiring an additional 100 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new position in Shopify in the fourth quarter worth about $39,000. Institutional investors and hedge funds 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.