Shopify (NYSE:SHOP) Given New $105.00 Price Target at Mizuho

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target boosted by Mizuho from $68.00 to $105.00 in a research note released on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the software maker’s stock.

A number of other research firms have also recently issued reports on SHOP. Wolfe Research assumed coverage on Shopify in a research report on Tuesday, July 16th. They set an “outperform” rating and a $80.00 price objective on the stock. Piper Sandler boosted their price target on shares of Shopify from $67.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday. Benchmark reaffirmed a “hold” rating on shares of Shopify in a report on Tuesday, August 6th. Evercore upped their target price on shares of Shopify from $75.00 to $80.00 in a research note on Thursday, August 8th. Finally, KeyCorp started coverage on shares of Shopify in a research note on Thursday, July 25th. They set an “overweight” rating and a $80.00 price target for the company. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.95.

Shopify Stock Down 0.5 %

NYSE SHOP opened at $108.49 on Wednesday. Shopify has a twelve month low of $48.56 and a twelve month high of $115.62. The stock has a market cap of $139.99 billion, a PE ratio of 101.39, a PEG ratio of 3.45 and a beta of 2.36. The firm has a 50-day simple moving average of $81.97 and a 200 day simple moving average of $71.02. The company has a debt-to-equity ratio of 0.10, a quick ratio of 7.32 and a current ratio of 7.10.

Hedge Funds Weigh In On Shopify

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group raised its stake in Shopify by 100.0% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the software maker’s stock worth $26,000 after buying an additional 200 shares during the period. Cultivar Capital Inc. acquired a new stake in shares of Shopify during the second quarter worth about $33,000. Hazlett Burt & Watson Inc. bought a new position in shares of Shopify during the 2nd quarter valued at about $33,000. Brooklyn Investment Group acquired a new position in shares of Shopify in the 3rd quarter valued at approximately $33,000. Finally, Rosenberg Matthew Hamilton increased its stake in Shopify by 41.3% during 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 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.