Shopify Inc. (NYSE:SHOP – Get Free Report) (TSE:SHOP) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 211,074 call options on the stock. This represents an increase of approximately 305% compared to the typical daily volume of 52,070 call options.
Analysts Set New Price Targets
A number of research firms recently weighed in on SHOP. Piper Sandler restated a “neutral” rating and set a $67.00 target price on shares of Shopify in a research note on Thursday, August 29th. Robert W. Baird lifted their price target on shares of Shopify from $79.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Wolfe Research initiated coverage on shares of Shopify in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $80.00 price objective for the company. Loop Capital boosted their price objective on shares of Shopify from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Benchmark reiterated a “hold” rating on shares of Shopify in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.03.
Check Out Our Latest Stock Analysis on SHOP
Hedge Funds Weigh In On Shopify
Shopify Price Performance
Shares of SHOP traded up $18.25 during mid-day trading on Tuesday, hitting $108.24. The company’s stock had a trading volume of 63,849,738 shares, compared to its average volume of 9,286,535. The firm has a 50-day moving average price of $78.73 and a 200 day moving average price of $69.92. The stock has a market capitalization of $139.67 billion, a price-to-earnings ratio of 110.20, a PEG ratio of 2.91 and a beta of 2.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 7.32 and a quick ratio of 7.32. Shopify has a fifty-two week low of $48.56 and a fifty-two week high of $114.51.
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.
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