Shopify (NYSE:SHOP) Given New $160.00 Price Target at CIBC

Shopify (NYSE:SHOP) (TSE:SHOP) had its price objective increased by CIBC from $135.00 to $160.00 in a report issued on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the software maker’s stock.

SHOP has been the subject of a number of other reports. Piper Sandler increased their target price on shares of Shopify from $94.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company raised their price objective on Shopify from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday. Mizuho boosted their target price on Shopify from $68.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Canaccord Genuity Group increased their price objective on shares of Shopify from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, ATB Capital boosted their price target on Shopify from $145.00 to $170.00 and gave the stock a “sector perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Shopify presently has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Trading Down 2.5 %

Shares of SHOP stock opened at $120.46 on Wednesday. The business’s fifty day moving average price is $111.29 and its 200 day moving average price is $91.82. The firm has a market capitalization of $155.65 billion, a PE ratio of 112.58, a P/E/G ratio of 2.49 and a beta of 2.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.10 and a quick ratio of 7.10. Shopify has a 1-year low of $48.56 and a 1-year high of $125.95.

Shopify (NYSE:SHOP) (TSE:SHOP) last issued its earnings results 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 return on equity of 11.60% and a net margin of 16.84%. As a group, sell-side analysts forecast that Shopify will post 0.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tidemark LLC raised its position in shares of Shopify by 3.6% during the 4th quarter. Tidemark LLC now owns 2,592 shares of the software maker’s stock valued at $276,000 after acquiring an additional 90 shares in the last quarter. Howland Capital Management LLC increased its stake in Shopify by 2.0% during the fourth quarter. Howland Capital Management LLC now owns 4,949 shares of the software maker’s stock valued at $526,000 after purchasing an additional 99 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of Shopify by 9.9% during the fourth quarter. Trust Co. of Vermont now owns 1,114 shares of the software maker’s stock worth $118,000 after purchasing an additional 100 shares during the period. First United Bank & Trust lifted its holdings in Shopify by 2.2% in the fourth quarter. First United Bank & Trust now owns 4,590 shares of the software maker’s stock worth $488,000 after acquiring an additional 100 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its position in Shopify by 50.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 300 shares of the software maker’s stock valued at $32,000 after purchasing an additional 100 shares during the period. 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.