Oppenheimer Boosts Shopify (NYSE:SHOP) Price Target to $130.00

by · The Markets Daily

Shopify (NYSE:SHOP – Free Report) (TSE:SHOP) had its price target raised by Oppenheimer from $90.00 to $130.00 in a report released on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the software maker’s stock.

Several other research analysts have also commented on the company. Wedbush reiterated a “neutral” rating and set a $115.00 price target (up previously from $72.00) on shares of Shopify in a report on Tuesday. Barclays increased their price target on shares of Shopify from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 1st. Scotiabank lifted their price target on shares of Shopify from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Thursday, October 24th. Roth Mkm increased their price objective on Shopify from $77.00 to $79.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $70.00 target price on shares of Shopify in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.95.

View Our Latest Stock Analysis on SHOP

Shopify Stock Down 0.8 %

Shares of NYSE SHOP opened at $114.13 on Wednesday. Shopify has a 52-week low of $48.56 and a 52-week high of $115.62. The company has a quick ratio of 7.32, a current ratio of 7.32 and a debt-to-equity ratio of 0.10. The company’s 50-day simple moving average is $80.36 and its 200-day simple moving average is $70.50. The firm has a market cap of $147.27 billion, a price-to-earnings ratio of 107.60, a price-to-earnings-growth ratio of 3.64 and a beta of 2.36.

Shopify (NYSE:SHOP – Get Free Report) (TSE:SHOP) last issued its quarterly earnings results on Tuesday, November 12th. The software maker reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Shopify had a return on equity of 11.94% and a net margin of 16.84%. Equities analysts predict that Shopify will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Shopify

A number of large investors have recently added to or reduced their stakes in SHOP. Baillie Gifford & Co. boosted its position in Shopify by 14.7% in the 3rd quarter. Baillie Gifford & Co. now owns 63,366,308 shares of the software maker’s stock valued at $5,078,176,000 after buying an additional 8,131,160 shares during the last quarter. Capital World Investors lifted its stake in shares of Shopify by 26.2% in the first quarter. Capital World Investors now owns 49,764,809 shares of the software maker’s stock worth $3,840,332,000 after acquiring an additional 10,340,040 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Shopify by 1.7% in the first quarter. Vanguard Group Inc. now owns 42,881,355 shares of the software maker’s stock valued at $3,309,154,000 after purchasing an additional 713,064 shares during the last quarter. FMR LLC increased its holdings in Shopify by 16.1% during the 3rd quarter. FMR LLC now owns 42,306,077 shares of the software maker’s stock worth $3,389,637,000 after purchasing an additional 5,869,795 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Shopify by 21.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,239,525 shares of the software maker’s stock valued at $2,642,265,000 after purchasing an additional 5,982,434 shares in the last quarter. 69.27% of the stock is owned by institutional investors and hedge funds.

Shopify Company Profile

(Get Free Report)

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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