Shopify (NYSE:SHOP) Sets New 52-Week High on Analyst Upgrade

Shopify Inc. (NYSE:SHOP) (TSE:SHOP)’s share price reached a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $110.00 to $130.00. Jefferies Financial Group currently has a hold rating on the stock. Shopify traded as high as $129.37 and last traded at $127.18, with a volume of 40790 shares changing hands. The stock had previously closed at $128.35.

Other equities research analysts have also issued reports about the company. Barclays upped their price target on Shopify from $93.00 to $100.00 and gave the company an “equal weight” 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 target price on the stock in a report on Monday, February 10th. Wells Fargo & Company raised their price target on shares of Shopify from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. DZ Bank downgraded shares of Shopify from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Finally, Royal Bank of Canada raised their target price on shares of Shopify from $130.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Shopify has a consensus rating of “Moderate Buy” and an average target price of $126.31.

Institutional Trading of Shopify

A number of hedge funds have recently bought and sold shares of SHOP. Allianz SE purchased a new stake in shares of Shopify in the 4th quarter valued at approximately $27,000. PFG Private Wealth Management LLC lifted its holdings in shares of Shopify by 3,657.1% in the fourth quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after purchasing an additional 256 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Shopify in the fourth quarter valued at $30,000. Mark Sheptoff Financial Planning LLC boosted its position in shares of Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock worth $32,000 after buying an additional 100 shares during the period. Finally, Brooklyn Investment Group purchased a new position in shares of Shopify during the third quarter valued at $33,000. 69.27% of the stock is owned by hedge funds and other institutional investors.

Shopify Stock Up 0.7 %

The firm has a 50-day moving average of $112.16 and a two-hundred day moving average of $93.70. The stock has a market capitalization of $166.94 billion, a price-to-earnings ratio of 120.75, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a quick ratio of 7.10, a current ratio of 7.10 and a debt-to-equity ratio of 0.09.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results 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%. As a group, sell-side analysts anticipate that Shopify Inc. will post 0.91 earnings per share for the current year.

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.