UBS Group Issues Positive Forecast for Shopify (NYSE:SHOP) Stock Price

Shopify (NYSE:SHOP) (TSE:SHOP) had its price target upped by UBS Group from $110.00 to $125.00 in a research note published on Wednesday, MarketBeat.com reports. They currently have a neutral rating on the software maker’s stock.

Several other analysts have also weighed in on the stock. Loop Capital upgraded shares of Shopify from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $140.00 in a research note on Friday, December 6th. Oppenheimer raised their target price on Shopify from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday. DZ Bank downgraded Shopify from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Scotiabank raised their price objective on Shopify from $115.00 to $120.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, New Street Research assumed coverage on Shopify in a report on Friday, January 10th. They set a “neutral” rating and a $115.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Shopify has an average rating of “Moderate Buy” and a consensus price target of $125.14.

Shopify Stock Down 2.5 %

Shopify stock opened at $120.46 on Wednesday. The firm has a market cap of $155.65 billion, a price-to-earnings ratio of 112.58, a PEG ratio of 2.49 and a beta of 2.47. Shopify has a 52-week low of $48.56 and a 52-week high of $125.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.10 and a current ratio of 7.10. The firm has a 50 day moving average price of $111.29 and a two-hundred day moving average price of $91.82.

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

Institutional Investors Weigh In On Shopify

Several large investors have recently modified their holdings of SHOP. Jennison Associates LLC purchased a new position in Shopify in the fourth quarter valued at approximately $132,323,000. Swiss National Bank raised its stake in shares of Shopify by 0.9% in the third quarter. Swiss National Bank now owns 3,657,800 shares of the software maker’s stock valued at $293,507,000 after buying an additional 33,300 shares during the period. Watts Gwilliam & Co. LLC raised its stake in shares of Shopify by 53.0% in the fourth quarter. Watts Gwilliam & Co. LLC now owns 13,401 shares of the software maker’s stock valued at $1,431,000 after buying an additional 4,641 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in shares of Shopify by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 342,030 shares of the software maker’s stock valued at $27,409,000 after buying an additional 77,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Shopify by 26.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,609 shares of the software maker’s stock worth $2,693,000 after acquiring an additional 7,027 shares during the period. Hedge funds and other institutional investors own 69.27% of the company’s stock.

About Shopify

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.