Shopify (NYSE:SHOP) Price Target Raised to $150.00

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price hoisted by Deutsche Bank Aktiengesellschaft from $125.00 to $150.00 in a report issued on Wednesday morning,BayStreet.CA reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the software maker’s stock.

SHOP has been the subject of several other research reports. Atb Cap Markets cut shares of Shopify from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group upped their target price on shares of Shopify from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI raised their price target on Shopify from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial upped their price objective on Shopify from $110.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday. One 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $126.21.

Shopify Trading Up 0.6 %

Shares of SHOP opened at $128.36 on Wednesday. The stock has a fifty day moving average price of $111.70 and a two-hundred day moving average price of $92.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The company has a market cap of $165.85 billion, a price-to-earnings ratio of 119.96, a PEG ratio of 2.49 and a beta of 2.47. Shopify has a 52-week low of $48.56 and a 52-week high of $128.57.

Shopify (NYSE:SHOP) (TSE:SHOP) last posted its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a return on equity of 11.60% and a net margin of 16.84%. Analysts predict that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jennison Associates LLC acquired a new stake in Shopify during the 4th quarter valued at $132,323,000. Swiss National Bank raised its position in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after purchasing an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC lifted its stake in shares of Shopify by 53.0% during the 4th quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock worth $1,431,000 after buying an additional 4,641 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock worth $27,409,000 after buying an additional 77,500 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in Shopify by 26.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock valued at $2,693,000 after acquiring an additional 7,027 shares during the period. 69.27% of the stock is currently owned by institutional investors.

About Shopify

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.