Shopify (NYSE:SHOP) Given New $135.00 Price Target at Wells Fargo & Company

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price raised by Wells Fargo & Company from $120.00 to $135.00 in a research report released on Wednesday morning,BayStreet.CA reports. They currently have an overweight rating on the software maker’s stock.

Other equities research analysts have also recently issued reports about the company. Oppenheimer lifted their price objective on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley upped their price objective on Shopify from $126.00 to $144.00 and gave the stock an “overweight” rating in a research report on Wednesday. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Moffett Nathanson upped their price target on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, Canaccord Genuity Group boosted their target price on shares of Shopify from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.14.

Shopify Stock Down 2.5 %

NYSE:SHOP opened at $120.46 on Wednesday. Shopify has a 1-year low of $48.56 and a 1-year high of $125.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. The firm has a market capitalization of $155.65 billion, a P/E ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47. The company’s fifty day moving average price is $111.29 and its 200-day moving average price is $91.82.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. As a group, equities research analysts anticipate that Shopify will post 0.91 EPS for the current year.

Institutional Investors Weigh In On Shopify

Several large investors have recently modified their holdings of SHOP. Prudential PLC lifted its position in shares of Shopify by 16.1% during the 4th quarter. Prudential PLC now owns 201,894 shares of the software maker’s stock valued at $21,461,000 after acquiring an additional 28,026 shares during the period. Resolute Advisors LLC increased its holdings in Shopify by 1.9% during the 4th quarter. Resolute Advisors LLC now owns 43,150 shares of the software maker’s stock worth $4,588,000 after purchasing an additional 820 shares in the last quarter. Uniting Wealth Partners LLC purchased a new stake in Shopify in the 4th quarter valued at $319,000. Grant Private Wealth Management Inc purchased a new position in Shopify during the fourth quarter worth about $1,116,000. Finally, Spahn Wealth & Retirement LLC bought a new position in shares of Shopify in the fourth quarter valued at approximately $746,000. 69.27% of the stock is currently 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.