Shopify (NYSE:SHOP) Stock Price Expected to Rise, Oppenheimer Analyst Says

Shopify (NYSE:SHOP) (TSE:SHOP) had its target price hoisted by investment analysts at Oppenheimer from $130.00 to $150.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Oppenheimer’s price target would suggest a potential upside of 20.99% from the company’s current price.

A number of other research analysts also recently weighed in on SHOP. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of Shopify in a report on Wednesday, January 22nd. Citigroup lifted their target price on shares of Shopify from $143.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and set a $120.00 price target on shares of Shopify in a report on Thursday, December 12th. Barclays increased their price objective on shares of Shopify from $70.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Moffett Nathanson raised their target price on Shopify from $86.00 to $99.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.66.

Shopify Price Performance

SHOP stock opened at $123.98 on Wednesday. The firm has a 50 day moving average of $111.05 and a 200-day moving average of $91.37. The firm has a market capitalization of $160.19 billion, a P/E ratio of 115.87, a price-to-earnings-growth ratio of 2.49 and a beta of 2.47. The company has a current ratio of 7.10, a quick ratio of 7.10 and a debt-to-equity ratio of 0.09. Shopify has a 12 month low of $48.56 and a 12 month high of $125.95.

Shopify (NYSE:SHOP) (TSE:SHOP) last announced its quarterly earnings data on Tuesday, February 11th. The software maker reported $0.34 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.10). Shopify had a net margin of 16.84% and a return on equity of 11.60%. As a group, sell-side analysts predict that Shopify will post 0.91 earnings per share for the current fiscal year.

Institutional Trading of Shopify

Large investors have recently bought and sold shares of the business. PFG Private Wealth Management LLC grew its stake in shares of Shopify by 3,657.1% in the 4th quarter. PFG Private Wealth Management LLC now owns 263 shares of the software maker’s stock valued at $28,000 after buying an additional 256 shares during the period. Mark Sheptoff Financial Planning LLC lifted its holdings in Shopify by 50.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Brooklyn Investment Group purchased a new position in Shopify in the third quarter worth approximately $33,000. Rosenberg Matthew Hamilton grew its holdings in shares of 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 during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in Shopify in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 69.27% of the company’s stock.

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.