Shopify (NASDAQ:SHOP) Price Target Raised to $200.00

by · The Cerbat Gem

Shopify (NASDAQ:SHOP – Free Report) (TSE:SHOP) had its price objective raised by JPMorgan Chase & Co. from $185.00 to $200.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the software maker’s stock.

Several other equities analysts also recently weighed in on the company. DA Davidson set a $200.00 target price on Shopify and gave the company a “buy” rating in a research report on Thursday, August 6th. Susquehanna assumed coverage on Shopify in a report on Friday, July 10th. They set a “neutral” rating for the company. Sanford C. Bernstein started coverage on Shopify in a research report on Thursday, September 10th. They issued an “outperform” rating and a $160.00 price objective on the stock. Morgan Stanley downgraded Shopify from an “overweight” rating to a “buy” rating in a research report on Monday, July 13th. Finally, Truist Financial set a $180.00 target price on Shopify and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $172.39.

Check Out Our Latest Stock Analysis on SHOP

Shopify Trading Down 0.9%

SHOP stock opened at $164.56 on Tuesday. The firm has a fifty day moving average price of $144.30 and a 200 day moving average price of $125.88. Shopify has a fifty-two week low of $94.00 and a fifty-two week high of $182.19. The firm has a market cap of $211.73 billion, a PE ratio of 111.19, a price-to-earnings-growth ratio of 3.43 and a beta of 2.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.35 and a current ratio of 5.35.

Shopify (NASDAQ:SHOP – Get Free Report) (TSE:SHOP) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $3.58 billion during the quarter. Shopify had a net margin of 14.53% and a return on equity of 12.58%. Shopify’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 EPS. Sell-side analysts anticipate that Shopify will post 1.46 earnings per share for the current fiscal year.

Institutional Trading of Shopify

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Graney & King LLC purchased a new stake in shares of Shopify in the 1st quarter valued at $27,000. Evolution Wealth Management Inc. lifted its holdings in shares of Shopify by 203.9% in the 1st quarter. Evolution Wealth Management Inc. now owns 231 shares of the software maker’s stock valued at $27,000 after buying an additional 155 shares during the period. Glen Eagle Advisors LLC boosted its stake in shares of Shopify by 97.5% in the fourth quarter. Glen Eagle Advisors LLC now owns 241 shares of the software maker’s stock worth $39,000 after buying an additional 119 shares during the last quarter. Roxbury Financial LLC raised its position in Shopify by 171.0% during the third quarter. Roxbury Financial LLC now owns 271 shares of the software maker’s stock valued at $40,000 after acquiring an additional 171 shares in the last quarter. Finally, Sankala Group LLC acquired a new position in Shopify in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 69.27% of the company’s stock.

About Shopify

(Get Free Report)

Shopify Inc is a commerce technology company that provides tools for businesses to start, operate and grow online and in physical retail environments. Its platform enables merchants to create and manage online stores, sell through multiple channels, process orders and payments, manage inventory and engage with customers.

Shopify’s products and services include its core commerce platform, Shopify Plus for larger businesses, Shopify Payments, Shop Pay, point-of-sale solutions and tools for marketing, shipping, analytics and customer management.

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