Shopify (NYSE:SHOP) Given New $135.00 Price Target at The Goldman Sachs Group

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective lifted by The Goldman Sachs Group from $88.00 to $135.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the software maker’s stock.

SHOP has been the subject of several other research reports. KeyCorp upped their price target on shares of Shopify from $80.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Shopify from $74.00 to $76.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Oppenheimer lifted their price target on Shopify from $90.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday. Benchmark restated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. Finally, Evercore ISI raised their price objective on Shopify from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Shopify presently has an average rating of “Moderate Buy” and an average price target of $94.95.

Shopify Trading Up 5.7 %

SHOP opened at $115.13 on Wednesday. Shopify has a 52 week low of $48.56 and a 52 week high of $115.62. The company has a market capitalization of $148.56 billion, a P/E ratio of 107.60, a PEG ratio of 3.64 and a beta of 2.36. The stock’s fifty day moving average is $79.47 and its two-hundred day moving average is $70.18. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10.

Shopify (NYSE:SHOP) (TSE:SHOP) last released its quarterly earnings data on Tuesday, November 12th. The software maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.09. Shopify had a return on equity of 11.94% and a net margin of 16.84%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. Analysts forecast that Shopify will post 0.76 earnings per share for the current year.

Institutional Investors Weigh In On Shopify

Several hedge funds have recently added to or reduced their stakes in SHOP. Oliver Lagore Vanvalin Investment Group raised its stake in shares of Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in Shopify during the second quarter worth about $33,000. Hazlett Burt & Watson Inc. purchased a new position in Shopify during the second quarter valued at approximately $33,000. Brooklyn Investment Group acquired a new position in Shopify in the third quarter valued at approximately $33,000. Finally, Rosenberg Matthew Hamilton boosted its position in Shopify by 41.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 455 shares of the software maker’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. 69.27% of the stock is 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.